Japanese bank Nomura is the latest in a long convoy of financial institutions to begin offering robo advisor services to their clients.
Rather unoriginally named «Nomura Goal-Based», the new robo advisor proposes model portfolios based on investors’ answers to a series of questions designed to understand their financial situation and goals.
Investors have the option to immediately access Nomura’s fund offerings based on these model portfolios.
The new technology was developed jointly with Nomura Research Institute, the service is now available via the Nomura Securities Japanese homepage.
Two Unique Functions
The firm claims the new offering will enable Nomura to provide clients with new and convenient services while contributing to Japan’s initiative to promote the shift from savings to asset accumulation.
Nomura Goal-Based offers two functions that other robo advisors currently available in Japan do not. Investor Style Diagnostics, provides personality assessments, while Investment Goal Setting, allows investors to embed life events such as home mortgages and education fees into their goal setting process.
The Robo-Advisor Battle
The use of digital technology for portfolio management services has expanded rapidly and will no doubt continue to become more widespread and sophisticated.
This week alone several new «robo» initiavives have been announced including the Hong Kong fintech startup, 8 Securities, who launched their Robo-Adviser, «Chloe» on Google Play and the Apple App Store.
