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Komfie Manalo, Opalesque Asia: The island of Guernsey in the English Channel off the coast of Normandy has a reputation for developing innovative products, including a robo-advisor technology called Wealthify. The UK-based robo-adviser was an innovation that came out of the island, said Dominic Wheatley, Chief Executive of Guernsey Finance at the latest Opalesque Guernsey Roundtable.
Wheatley said that Wealthify’s co-founder was born in Guernsey and trained at one of the island’s investment management houses. Also, much of the seed investment came from the island’s angel investor network, he said.
Wheatley stated, "A local investment adviser is still retained by Wealthify for their expertise. Those sorts of FinTech products are very much a part of where the island is headed. Led by a committee made up of people from the government, regulator and industry, who are very much developing the island as a center of innovation."
William Mason, Director General of the Guernsey Financial Services Commission expressed excitement that a robo-advisor technology was developed there. He commented, "I can remember many years ago when I was working as a supervisory manager for the Financial Services Authority in the UK, we were wrestling with this problem of, frankly, vast numbers of retail consumers...................... To view our full article Click here
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