Will Dunn 16th Jan 2018
Robo-advisers are growing fast. The UK’s leading online investment manager, Nutmeg, more than doubled its customers to over 45,000 investors last year while increasing its assets under management to over £1bn. But growing even faster is the trend for millennials to switch banks – Monzo, the UK’s top challenger bank, attracted over 400,000 new customers last year. These financially fickle youngsters spent over £1bn on Monzo’s distinctive luminous-orange cards last year, including more than £66m on entertainment and almost £7m on Pret a Manger.