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Friday, November 17


News

NatWest robo-advice service set to go live

RBS

The Royal bank of Scotland's NatWest unit will on Monday begin offering a digital investment service to its five million online banking customers. First announced in February, the robo-advice service will let customers invest from as little as £500 for a £10 charge plus fees. Find your next job. For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now.

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RBS Launches Low-Cost Robo Adviser Service With a Minimum £500 Threshold

RBS

RBS will run the newly launched robo-adviser service under its NatWest brand, the bank it bought more than 15 years ago. For retail investors, the investment threshold for the new service has been set at £500 ($660), which is by far a low amount compared to product limits of traditional banking wealth management. With banks in UK are still largely playing catch-up in embracing this digital technology, RBS is claiming to be the first among the nation’s big lenders to unlock the potential of the robo-advisers, which are being adopted rapidly by the wealth management industry worldwide. Moneyfarm provides all clients with over-the-phone access to Investment Consultants who can provide practical advice on the product and in-depth information on an individual’s investment.

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financemagnates.com
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Wall Street Banks Held for Rigging Treasury Bond Auctions

RBS

Once the bids are submitted, the Treasury proportionately allots the bonds to the banks. This new lawsuit claims that dealers at several banks secretly shared their client information in online chat rooms to rig auctions of the bond markets. Royal Bank Scotland PLC (The) (RBS): Free Stock Analysis Report. Goldman Sachs Group, Inc. (The) (GS): Free Stock Analysis Report.

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nasdaq.com
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Natwest's robo-advice to cost just £10

RBS

NatWest will launch its robo-advice service on Monday (20 November), charging just £10 if the customer decides to invest. Fund charges in the NatWest Invest service are capped at 0.6 per cent a year of the total fund size and customers will only be charged for the advice if they decide to invest. Phil Northey, managing director of premier banking at Natwest, said: "At NatWest we are very focussed on meeting our customers’ needs and it is clear that too many of our customers are not able to get the investment advice they need. If the service or investing isn’t right for a customer, it will suggest an alternative option for no charge.

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ftadviser.com
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NatWest robo-adviser service launched by RBS - CBR

RBS

Robots will soon be giving investment advice to banking customers as Royal Bank of Scotland (RBS) reveals its new robo-adviser service. The service also aims to provide advice to those customers who have been miss sold investment information in the past. There are many benefits to be brought to customers, from clever saving, more in depth advice and future planning but the banks will also benefit from the scheme. Services will offer the same risk-rated funds that are available to customers on its execution service to ensure continuity within the branch.

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cbronline.com
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Royal Bank of Scotland facing US$11bn mortgage fine says HSBC

RBS HSBA

The broker believes a settlement is imminent, after RBS confirmed it is in full talks with the DoJ in its third quarter update. Royal Bank of Scotland PLC (LON:RBS) faces a much higher fine than the market expects from the US Department of Justice for its involvement in mortgage mis-selling according to HSBC. Market forecasts are for RBS to be fined US$5bn-6bn, but HSBC cautions the final penalty might be anything up to US$12bn on a line through recent deals. The rise in base rates has prompted a rise in forecasts of 3-5% over the next three years, while the target prices climbs to 280p.

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RBS set to launch robo-advice proposition

RBS

According to the Financial Times, RBS will launch the service for around five million customers on Monday under its Natwest brand. The service, which aims to plug the 'advice gap', will be available for clients with a minimum of £500 to invest. We use cookies to give you the best experience on our website. We use cookies to improve your experience.

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When the last bank leaves town

RBS

The announcement on Wednesday by Ulster Bank that it is to close the Killyleagh branch next summer came as a real shock. "I only found out through my accountant on Facebook who posted something about the Killyleagh branch closing," he said. "There is a big passing trade, people come into the town, park in my yard get their bits and pieces in the shop here and go around to the bank. "People badly missed it and it's going to be the same with the Ulster Bank closure.

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bbc.co.uk bbc.com
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Thursday, November 16


News

Virgin Money: Can Sir Richard Branson's bank do better by small businesses?

RBS VM

Virgin Money: Can Sir Richard Branson's bank do better by small businesses? Can Sir Richard Branson’s Virgin Money, which has just re-heated plans to move in on the big four banks' turf, do the job? What I got was a quote saying 'we've done some research, and small businesses like Sir Richard Branson'. Still, you only need to spend a few minutes reading the revelations about the treatment of struggling small businesses by Royal Bank of Scotland’s “Global Restructuring Group” to see that something is rotten in Denmark.

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independent.co.uk
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Woodford buys RBS and Barclays

RBS BARC

Mr Woodford has long been invested in the shares of Lloyds Banking Group, but Barclays and Royal Bank of Scotland are more recent editions. Neil Woodford’s continued confidence in the outlook for the UK economy has seen him buy the shares of troubled banking giants RBS and Barclays. The uncertainty over what level of assets the regulator would require the banks to hold has, in Mr Woodford’s view, constrained lending and returns to shareholders in recent years. Central to Mr Woodford’s enthusiasm for the banking sector is his view that returns have been hindered by the levels of fines those companies have had to pay in recompense for previous conduct, and the uncertainty around how much capital UK banks would have to own.

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ftadviser.com
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