Robo-adviser Wealthsimple is to quit the UK market after four and half years and transfer all clients to rival Moneyfarm.

I have to confess that I scratched my head this week when I heard the news that JP Morgan Chase was buying the loss-making robo-adviser Nutmeg.

Digital IFA disruptor Fintuity has raised £2.15m of private and institutional investment to develop solutions to extend financial advice and attempt to close the UK’s growing financial advice gap.

New research suggests that millennials, those aged 18-35, are increasingly likely to turn to robo-advisers although trust in human financial advisers remains high.