FinTech: Euclidea goes live with

the first Private Banking service available to all


Euclidea is a wealth manager authorised by Consob which offers clients high-quality, personalised investment solutions with half the average fees of traditional wealth management services

Euclidea is the first digital wealth manager to bring together cutting edge technology

with the extensive investment management experience of the founding partners

Low minimum investment, starting from €10,000

Investments in ETFs and the best active funds to exploit the best market opportunities

Accessible through www.euclidea.com with multichannel Customer Care

 

Milan, 20 February 2017, a new player enters the wealth management arena, a unique organisation which will revolutionise how individuals invest their savings. Euclidea SIM S.p.A. is the first wealth manager that brings together the power of digital technology with the extensive experience in the field of its founders. Euclidea provides personalised investment management solutions with high quality standards, half the management fees compared to traditional wealth managers and a comparatively low minimum investment of €10,000.

Within the dynamic context of wealth management where new technologies, the pursuit of better returns and novel business models come together Euclidea represents the best mix between personalisation with high quality service and low costs. Through a sophisticated digital platform and a team of portfolio managers with extensive experience, Euclidea creates and manages portfolios tailored to either large or small sizes and catering to all preferences and risk profiles based on the characteristics and financial objectives of the individual investor.

Supervised by the Bank of Italy, in November 2016 Euclidea received authorisation from Consob to operate as Investment Manager. The organisation, which is entirely independent, was founded in 2015 by a team of professionals with extensive experience in investment management: Mario Bortoli (CEO), Luca Valaguzza (Chief Product Officer) and Giovanni Folgori (Chief Investment Officer). They were supported by business angels and renowned entrepreneurs in the investment and web technology sectors: Roberto Condulmari, co-founder of Kairos SGR, and Marco Corradino, co-founder of Volagratis.com (now known as Lastminute.com).

Mario Bortoli, founder and CEO of Euclidea says: “The wealth management landscape is changing significantly: the changes in demographics, adoption of new technologies and evolving regulations are imposing a change in direction. Euclidea offers a unique proposition in Italy, enabling people with a relative small savings to benefit from high quality investment services which are traditionally offered only to private banking clients with sizable wealth. The technology we have developed enables us to drastically reduce costs and fees, which directly translates into higher returns for the client. We have created an innovative model in which it is people, and not just an algorithm, that select the best investment opportunities for clients and verify that portfolios are optimally diversified and performing. This is done through a structured investment process supported by proprietary quantitative models. Our independence enables us to make the best investment decisions without restrictions or conflicts of interest and always for the client’s benefit.”

To best exploit the opportunities that arise from global markets, as well as liquid alternative investment strategies, Euclidea uses both ETFs and the best actively managed funds. A team of experienced fund selectors and portfolio managers implements the guidelines established by the Investment Committee.

The management fees are half of the Italian market average, which is estimated to be around 1.5%, and vary depending on the size of investment, starting at 0.70% for an investment of €10,000 reducing to a minimum of 0.40%. There are no entry fees, exit fees, trading costs, administrative costs or deposit costs. To build portfolios, Euclidea will undertake an accurate profiling of the prospective client using an online MiFID questionnaire. Once investment objectives, risk profile, real wealth situation and client’s knowledge and experience have been established, we will recommend a personalised portfolio to the client which will be tailored to their needs and characteristics. The portfolio will always be well diversified and managed to navigate well through market volatility, it will then be re-balanced when appropriate to adjust to new market conditions. Clients also have the option to further personalise their portfolio. It will be possible for clients to redeem their investment at any time thanks to the high liquidity of the financial products used, and obtain their capital in just a few days.

Clients will benefit from a multichannel service, that allows constant and direct contact with Euclidea, both digitally and face-to-face. The service is available through www.euclidea.com and Customer Care professionals are available to clients through telephone, email and chat. Clients can also request an appointment to meet the entire Euclidea Team in their Milan offices.

Euclidea SIM S.p.A., when obtaining the authorisation from Consob to register to the “Albo delle società di intermediazione mobiliare”, was assisted by the legal firm Craca Di Carlo Guffanti Pisapia Tatozzi & Associati (5Lex).

Euclidea overview

 

Date established October 2015
Date launched February 2017
Consob authorisation November 2016
Minimum investment €10,000
Investment strategy Investment in ETFs and active funds, through a portfolio construction process that brings together automated techniques of asset allocation, accurate valuations and ongoing monitoring of the portfolio managers in order to guarantee a high standard of personalisation and quality, which previously have only been available to “higher-worth” clients.
Fees and costs Management fees: start at maximum 0.70% for an investment of €10,000 to a minimum of 0.40%.

No entry, exit, trading or performance fees.

Shareholders and Management Executive directors and founding partners:

•     Mario Bortoli (CEO)

•     Luca Valaguzza (Chief Product Officer)

•     Giovanni Folgori (Chief Investment Officer)

These partners have prior experience in organisations such as Fideuram Investimenti SGR, Eurizon Alternative Investments, Sofia SGR and Akros Alternative Investments SGR. They cumulatively have over 50 years’ experience in investment management.

Non-executive directors and partners:

•     Roberto Condulmari, co-founder of Kairos SGR

•     Marco Corradino, co-founder of Volagratis.com (now known as Lastminute.com).

Investment Committee The Investment Committee, which normally meets on a monthly basis, includes Mario Bortoli, Luca Valaguzza, Giovanni Folgori and Roberto Condulmari. The Investment Committee defines the asset allocation for all model portfolios.
Distribution agreements or shareholding interests with third parties None
Website www.euclidea.com
Customer care www.euclidea.com/assistenza/
Legal and operative office address Via Solera Mantegazza, 7 – 20121 Milano

 

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