In a recent conversation with Emerce Financials, Bernadette Wijnings (co-CEO Blanco) shared Blanco’s aspirations to raise funds for further internationalisation. Realising these ambitions will help independent wealth managers across Europe to easily stay compliant and focus on their clients.
The Blanco platform provides asset managers with automated solutions for onboarding, client data management and wealth management. Wealth management processes must comply with extensive legislation, which can be time consuming and costly. Blanco’s platform automates these processes, removes friction and helps asset managers to stay compliant with ease.
Wijnings also mentions how the combination of Blanco’s innovative technology with the recent Knox initiative offers a unique proposition for asset managers. Banks charge independent asset managers higher fees and regulatory costs for asset managers have also risen sharply in recent years, putting ongoing pressure on margins. Knox is a cooperative of asset managers, which earlier this year received a licence from the Netherlands Authority for the Financial Markets to carry out mediation activities and to act as a custodian. This allows Knox to store the assets of asset management clients under AFM supervision. By working together in Knox and with Blanco’s innovative technology, independent wealth managers can work more efficiently and cheaply.
Although Blanco is already active in six countries, the majority of our activities are based in the Netherlands. In the Netherlands, the market for independent asset managers accounts for at least 10 per cent of the total market in the Netherlands (estimated at EUR 350 billion). As the market share for independent asset managers in the Netherlands and across Europe continues to grow, Blanco is looking to raise funds and scale up so that its solution is accessible across Europe. Watch the video of the interview here (in Dutch).