Capital Advisor, Bankinter’s fully online advisory service, attracts more than 10.4 million euros in investment in just two and a half months

Capital Advisor, the first fully-online banking advisory service in Spain, which Bankinter launched in October, has already attracted more than 10.4 million euros in investment. The new service has achieved this impressive figure in just two and a half months, outperforming past digital investment initiatives to have been launched in the Spanish market.

Capital Advisor is an innovative and fully online service aimed at investors looking to invest in funds and build and modify their portfolios. They receive regular recommendations but are free to decide on whether or not to follow them. The investor simply selects an investment objective, decides how much to invest and then builds the portfolio after viewing the recommendations proposed by Capital Advisor, always having the last word on how and where to invest their money. The service is only available to Bankinter customers who are able to invest 10,000 euros or more.

Within two and a half months of its launch, Capital Advisor has achieved its goal: attracting customers who like to invest, as demonstrated by the fact that 51% of users already had a securities account and 75% of them had previous experience investing in funds.

As for the profile of these investors, 56% are men with an average age of over 50, while almost 10% of all customers who have used Capital Advisor are aged under 40. Of the total, 64% of them had university qualifications and 47% owned an iPhone; a figure suggesting a customer profile with above-average purchasing power in the Spanish market.

Moreover, the investors attracted to Capital Advisor are typically established Bankinter customers, as shown by the fact that the average user has been with the Bank for 15 years. Indeed, another key objective of the new service is to provide added value to the Bank’s existing customers.

Average investment: 42,000 euros

Average investment comes to around 42,000 euros. However, it is worth noting that 12% of the fund portfolios arranged through the Capital Advisor service exceed 100,000 euros in assets under management. Bank customers pay no fee for using the advisory service, although they pay the same cost for arranging the funds as they would through any of the Bank’s other channels. Bankinter receives a fee (known as a retrocession) for marketing these funds, at no additional cost to the customer.

In terms of distribution by autonomous community, 22% of the customers immediately attracted by the launch of Capital Advisor are located in the community of Madrid, 19% in Andalusia and 14% in Catalonia. These figures are naturally subject to change as the digital advisory service evolves over time.

With its new digital advisory service, Bankinter has taken a further step forward in its commitment to digital innovation in Commercial Retail Banking, a business segment in which it has hit several milestones. It is now focusing on fully-online investment, an area in which it is already a pioneering figure with the launch of the first digital banking broker 20 years ago, which made it a leader in retail stock market brokerage services. This early initiative was soon followed by savings and mortgages platform COINC, the first digital mortgage, and the first robo-advisor Popcoin, among other milestones.