Intelliflo to launch robo-advice service

robotIntelliflo has announced the six fund groups it will include in its new robo-advice service, which will launch this month.

The software provider announced last year it was planning to launch a robo-advice service, using the Intelligent Office Personal Finance Portal, initially through six advice firms for investment and protection products.

Architas, Legal and General Investment Management, 7IM, SEI Asset Management, Standard Life Investments and Vanguard will have a range of funds on the system.

Investors will be able to use attitude to risk and investment projection tools to help them select funds. Advisers are able to choose from a range of risk-rated investment products for investors to have access.

Nick Eatock, Intelliflo’s executive chairman, says: “The fund management partners we have lined up for the launch of our Automated Advice Service will offer clients of iO users a broad spectrum of options to meet their specific needs.

“The launch of this new service is a major step forward and opens up access to the much-discussed robo-advice market in a way that puts advisers at the centre of the process.”

Intelliflo has teamed up with Cofunds to provide integration for trading, execution and payment of Isas and general investment accounts.

The software provider says advisers will also be able to implement ‘stop scenarios’ whereby they can halt the investment process for clients.

Costs for the service will depend on the investment funds selected, says Intelliflo.