Othis launches personal wealth management platform for individuals and families in Europe with diverse portfolios

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Mar 18, 2024, 07:00 ET

VIENNA, March 18, 2024 /PRNewswire/ -- European wealth tech company Othis unveils its initial product on the path to become a full-service wealth management company directly servicing individuals and families.

"We believe that the typical private banking client is changing. The new generation of high-net-worth individuals is globally connected, digital-native, and not afraid to take risks," says Evgeny Zasorin, co-founder and CEO of Othis.

Zasorin, who previously headed private market investments at an Austria-based family office adds, "Our goal is to address the needs of this growing population that seeks an on-demand, personalized, and digital wealth management experience. We believe the industry must evolve with the use of advanced technologies and a revamped pricing model to align with new customer needs."

Solving the chaos of controlling diverse portfolios with intuitive software

With the initial product, Othis targets individuals and families with portfolios of diverse assets. The company's clients no longer need to face the chaos of having to juggle multiple bank and brokerage portals because their data is automatically aggregated from all connected accounts. Alternative assets that are not handled by traditional financial firms, such as venture capital, can be processed by Othis.

All this data is neatly organized and presented in a single intuitive dashboard, available on both mobile and web. In the future, clients will be able to share the account access with their tax advisors to simplify the flow of information.

Seeking an edge with data science to understand diversification in portfolios

Beyond asset aggregation, Othis is building proprietary financial analytics tools that will enable quantitative analysis of multi-asset portfolios. Clients will be able to see true diversification, factor exposures, and separation of beta and alpha across their entire portfolio.

"Whereas off-the-shelf, pre-made solutions offered by in-person advisors were previously the only methods to receive wealth services, we think that technology has developed enough to allow for fine-tuned, hyper-personalized portfolios for all our clients," says Saang Lee, co-founder and CIO of Othis. "Artificial intelligence and machine learning allow for cross-asset analysis, across public and private assets, which wasn't possible before," the veteran trader added.

Full-service wealth management for individuals and families across Europe

In the future, Othis aims to become a full-service, tech-first wealth management company that helps clients organize, optimize, and grow their wealth in a holistic manner.

Former fund manager and now Othis' co-founder and COO, Stefan Haubner: "Our growth is driven by a clear mission of empowering personal wealth management for a wider audience than ever before. For us, this means that clients are in the lead and can take full control of their wealth to make optimal decisions in an independent and professional way".

Othis raised an undisclosed pre-seed round in summer of 2023, which included the backing of some of Europe's oldest legacy families, advisors to renowned ultra-high-net-worth individuals, and tech entrepreneurs. "The investment of established multi-generational families is a testament to the imminent evolution in the private banking industry and the aspiration of Othis to be that leading force," says Zasorin.

Contact: Mariia Saklakova
+4915777440243
[email protected]
https://www.linkedin.com/company/othis/

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SOURCE Othis