The 'Robo Effect' takes DIY investor accounts to over 6 million

As at Q2 the DIY investment platform market had recovered to £260.5bn, slightly over £2 billion shy of its all-time high in December 2019.

  • Although an uptick in markets has accelerated the recovery, this jump back up is also a result of more investors opening accounts that ever.
  • Numbers are at an all-time high, surpassing 6 million DIY investment accounts for the first time ever.
  • Robo advisers now account for 1 in 5 of all DIY investment accounts

Holly Mackay, CEO of Boring Money comments;

In the last 3 years, we have seen the number of DIY customer accounts grow by 48% from 4.3 million in Q2 2017 to 6.3 million today. Over the same 3 year period, £AUA has risen by a more modest 29%. This is partly attributable to the ‘robo effect’ – we are seeing average balances fall as newcomers to investing and those with smaller balances enter the market.

By “£ assets” the top 5 traditional platforms continue to dominate, with a 69% market share. Hargreaves Lansdown still enjoys a consistent 40% market share. The robo advisers account for just 3% of the market by £ assets today although by customer accounts they now account for 18%.



Notes to editors:

1) Source of £AUA and customer account data: direct from platforms and robo advisers Q2 data correct as at 30 June 2020

2) Historical data source: Boring Money Data Portal – data sourced directly from platforms and robo advisers

3) About Boring Money:

Boring Money is an independent research and content business which provides information, tips and Best Buys to consumers. The business conducts regular research with industry providers and consumers and looks at the developing DIY investment market from both the customer and provider perspective. Boring Money holds test accounts with over 25 providers and also holds regular focus groups and interviews with consumers to ensure regular input and feedback from the user perspective.

Founder Holly Mackay has worked in the investment industry for 20 years and is supported by a team of 12 researchers, analysts and marketing execs. Boring Money is not regulated to give personal financial advice, nor is it regulated by the industry watchdog.

4) All the data referred to in this press release can be accesses on our Data Portal, which is updated on a quarterly basis

Data Portal

All of this data can be accessed on our Data Portal, which is updated on a quarterly basis.

Get comprehensive, up to date market and consumer data straight to your desktop with our new Data Portal. Build a picture of the investment space with regularly updated demographic, behavioural and attitudinal insights from thousands of UK savers and investors.

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