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Robo-Adviser Scalable Hits $1.2 Billion by Joining With Banks

Edward Robinson

When a quartet of German and British finance professionals started their computer-driven asset management offering 28 months ago, they were joining a crowded field. Now their startup, Scalable Capital, has amassed 1 billion euros ($1.2 billion) in assets under management, the company said Tuesday, joining the ranks of the largest independent firms. One reason why: Scalable Capital wasn’t shy about joining forces with the investment giants robo-advisers are supposed to be disrupting.