Robo Advisor Scalable Doubles AUM in Three Months

UK robo advisor Scalable has doubled its assets under management in the last three months to EUR 200 million ($213 million); this includes approximately 5,000 client portfolios with an average value of EUR 40,000 ($42,659); the firm says it continues to grow steadily adding EUR 1 million ($1.07 million) in assets under management per day; Scalable launched in the UK in the summer of 2016; it has since expanded to Germany and Austria and has reported significant growth from a partnership with Siemens Private Finance for employee investment plans.  Source