flatexDEGIRO adds Whitebox’s robo-advisory for retail investors

Rick Steves

The partnership with Whitebox forms the next step in the verticalization of flatexDEGIRO as the low-cost brokerage platform addresses new customer groups and targets previously less trading-active customers. 

flatexDEGIRO has extended its long-standing B2B partnership with digital wealth manager Whitebox, an independent robo-advisory for retail investors.

Both firms have been partners in the B2B space for more than seven years already and Whitebox’s reputation as only grown since then, having been awarded best robo-advisor in Germany several times fpr its product offer, service quality and pricing model.

Europe’s largest and fastest growing online broker for retail investors will thus leverage Whitebox’s robo advisory and offer a fully digital investment solution to its users, starting at flatex Germany in summer 2022. After the successful launch at flatex, flatexDEGIRO will look into expanding the offering to all DEGIRO customers.

Primarily low-cost, exchange-traded index funds (ETFs)

Frank Niehage, CEO of flatexDEGIRO, commented: “The extended partnership supports flatexDEGIRO’s strategic priority to provide millions of retail investors in Europe with the best online brokerage platform in terms of product, platform and price. It enables us to offer our customers access to an additional, highly attractive and comfortable way of investing. This benefits in particular customers who were previously less active in trading.

“In addition, it enables us to address new client groups that are generally looking for support in accessing the capital markets on a sustainable, long-term basis. Offering digital wealth management in form of robo-advisory is the next, logical step in verticalizing our unique European brokerage platform.”

Salome Preiswerk, Founder and Managing Director of Whitebox, said: “We are very excited about the opportunities that arise from the strategic partnership. Our aim is to offer investments that are tailored to individual needs, simple, transparent, cost-effective – and of high quality. Expanding our reach with a trusted partner such as flatexDEGIRO to potentially several million retail investors across Europe means a big step forward for us.”

Muhamad Chahrour, CFO of flatexDEGIRO and CEO of DEGIRO, added: “With flatexDEGIRO, we retailise capital market access. A wide range of products, low prices, easy handling. However, many customers still need guidance when it comes to investment. Be it due to indecision, lack of ideas or the desire for a simple, tailor-made product. ETF savings plans are an important step in the right direction, but clients still have to search for, analyse and select the right ETF themselves. Many customers have asked us for a simple solution – we now deliver this in partnership with Whitebox. In a few clicks, everyone can create their own portfolio – and benefit sustainably from Europe’s easiest access to capital markets.”

The partnership with Whitebox forms the next step in the verticalization of flatexDEGIRO as the low-cost brokerage platform addresses new customer groups and targets previously less trading-active customers.

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