Standard Life’s financial planning arm 1825’s has listed its proposed robo-adviser as part of the UK Financial Conduct Authority’s fintech regulatory sandbox scheme.
1825’s robo-adviser has been developed to help individuals that do not have time or cannot afford the services of a financial adviser to be able to receive help with their retirement options.
The FCA said in a statement that it had received 69 applications for the fourth run of its sandbox scheme and has approved 29. Around 40% of the latest round of entrants were exploring blockchain technology, the regulator said.
1825 is among the latest major firms to perform a dry run of a new proposition via the FCA’s scheme. They follow on from Investec and Moneyfarm that have also utilised the sandbox scheme in the last 12 months.