London/Munich 17 January 2017. Siemens Private Finance Versicherungsvermittlungsgesellschaft mbH (SPF) partners with the European fintech start-up Scalable Capital to offer current and former Siemens employees in Germany access to a technology-driven and cost-efficient investment management service.
"It is our mission to educate our employees on the importance of investing in capital markets to build their future wealth and we want to make it easy for them to choose from a wide range of financial products. We have analysed the market in detail and opted for the service with the greatest added value for our employees. With this digital solution, we can offer our employees access, for the first time, to a customised wealth management service. Scalable Capital makes investment decisions based on each client’s individual risk tolerance and continually monitors their portfolio with a data-driven risk management technology - which is ideal for long-term wealth creation", said Dr. Alexander Mahnke, CEO of the Business Unit “Insurance” at Siemens Financial Services (SFS).
"As a technology start-up, we are very pleased to be entrusted by Siemens, one of the world's largest technology groups, to manage the personal wealth of their workforce. Together, we now have the opportunity to inform Siemens employees about the benefits of digital investment management," said Erik Podzuweit, Co-Founder and Co-CEO of Scalable Capital.
Siemens Private Finance offers a comprehensive portfolio of attractive and high-quality financial services products for employees and retirees (as well as their dependents) at Siemens in Germany. To date, the portfolio has included insurance and pension products as well as mortgage lending services. Now, Siemens Private Finance is expanding its offering in the area of wealth management. The offer is currently limited to Siemens employees, former employees and their dependents in Germany.
With over 120 million euros of Assets under Management (AuM) and weekly inflows of up to 5 million euros, Scalable Capital is a leading digital investment manager in Europe. It has recently been selected by online portals Brokervergleich.de and wallstreet: online as the best online investment manager in Germany. The fintech start-up uses technology to build and manage globally diversified ETF portfolios for its clients. Its proprietary risk management technology continually manages the risk in the portfolios, with the goal to build long-term wealth for its clients. As a financial services institution regulated in Germany by BaFin in accordance with section 32 of the German Banking Act (KWG) and in the UK by the Financial Conduct Authority, Scalable Capital makes discretionary investment decisions on behalf of its clients.
About Siemens Private Finance:
Siemens Private Finance Versicherungsvermittlungsgesellschaft mbH (SPF) is a company of Financial Services, the financial division of Siemens. It offers a comprehensive portfolio of attractive and high-quality financial services products for employees and retirees (as well as their dependents) at Siemens. The focus of their activities is Germany. A new addition is the "Investing" division with Scalable Capital as a partner.
About Scalable Capital:
Scalable Capital has fundamentally changed investing by using a technology-driven, data-led investment approach to create personalised, globally diversified ETF portfolios for its clients.
Built by a team of 45 experts spanning the world of finance, technology and academia, Scalable Capital has created a service which not only makes investment management cheaper, more accessible and more convenient, but better as well. All by using technology in every step of the process.
The company was founded in 2014 by Erik Podzuweit, Florian Prucker and Adam French (ex-Goldman Sachs). Its unique risk management technology was developed in close collaboration with Professor Dr. Stefan Mittnik, Director of the Chair of Financial Econometrics and Director of the Center for Quantitative Risk Analysis at the Ludwig Maximilians University in Munich.
Scalable Capital Vermögensverwaltung GmbH is a financial services institution regulated by BaFin in accordance to section 32 of the German Banking Act (KWG) and Scalable Capital Limited is regulated by the Financial Conduct Authority (FCA) in the UK.