German Robo Assets Exceed €2bn
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Status Quo of German Robo Advisor Market
On our estimate German Robos assets under managment exceed €2bn already.
With the market being anything but transparent our estimate is based on the following assumptions and figures:
- Four German Robos (Scalable Capital, cominvest, LIQID and Quirion) have disclosed asset under management figures in the past.
- We have extrapolated their past net capital inflow numbers (precisely it is a combination of market value changes and net capital inflow) to the current date.
- This leads us to assume that the above Top4 German Robos manage a total of €1.5bn already. We consider this to be a conservative number as we feel that major cooperations are running extremely well providing upside to our number.
- We estimate that Next 6 German Robos manage another €300m+ of assets.
- We estimate that remaining 30+ German Robos manage another €200m+ of assets.
Ample Room for Future Growth
Consequently, we get to a total assets under management of €2bn+ for the German Robo market. As this represents ca. 0.2% of retail investments in stocks, bonds and funds or 0.04% of total private financial wealth, it leaves ample room for future growth.
Winners Already Take (Almost) All
The concencration of this very nascent market is astonishing. Germany’s leading robo accounts for almost 40% of the market, Top3 for 2/3 and Top4 for 3/4. This is, however, likely to change with a number of deep pocketed incumbents with a huge client base having entered the market recently. At the same time consolidation of German Robo startups seems inevitable.