Pritle: 'We make dreams accessible'
Online asset manager Pritle wants to make automated asset management accessible to large groups of Dutch investors who want to realize a personal dream. That can stop working, a boat or even a world trip. Easier and cheaper, those are the words that Pritle founder Thomas Bunnik regularly drops. Investors can start with a decade and set a time and purpose themselves
Online asset manager Pritle wants to make automated asset management accessible to large groups of Dutch investors who want to realize a personal dream. That can stop working, a boat or even a world trip.
Easier and cheaper, those are the words that Pritle founder Thomas Bunnik regularly drops. Investors can start with a decade and set a time and purpose themselves. They are accompanied with visualizations and automated recommendations.
With savings at the bank it is becoming increasingly difficult to realize dreams, but for investing a good coach is indispensable, says Bunnik. By largely automating that, no high costs have to be charged. The startup charges an annual commission of 0.5 percent. The underlying investment funds cost on average 0.2 percent per year. Pritle is, in its own words, seventy percent cheaper than traditional banks and asset managers.
Together with co-founders Azman Hamid and Stewart Bowers, Bunnik decided last year not to set up a new company, but to take over the existing asset manager Fundix and convert it. "We first looked at whether we could realize this concept from existing financial institutions. I worked for ABN AMRO for eight years myself, where I was responsible for the fund supply worldwide. The IT infrastructure of banks, however, originates from the nineties in many cases. That is why banks can not make a quick switch to modern technology. "
Starting from scratch is also a disadvantage, he acknowledges. "Applying for a banking license takes time, and we did not want to wait any longer. Due to the low interest rates at banks, this is the time to come up with something new. "So the purchase of Fundix, with about one hundred million euros of invested capital, was located.
Everything revolves around trust, emphasizes the co-founder. The year 2015, after all negative publicity about underperforming Alex Asset Management, was not exactly the year of online asset management. "Alex was able to prevent a loss in 2008, after which it was expected that they could repeat this. We do maximum risk diversification on the basis of 25 years of solid investor history. And invest in equities, bonds, money markets, listed real estate companies and commodities. "Pritle also gradually builds the investment risk as customers move closer to the financial target. "This minimizes the risk of surprises."
The most striking thing is that the goals are made as real as possible. Via a button for example, with which in the near future the dreamed boat can be ordered or a world trip can be booked. To this end, the startup works together with partners such as Booking.com and Uber. "This approach also has the advantage that the customer does not have to be constantly encouraged to take action himself, as is the case with many asset managers. He can immediately see whether the intended goal is achieved. "
Bunnik is convinced that the formula is ripe for large parts of Europe and so Pritle is expanding to Belgium this quarter. "Then we want to spread the wings to even more European countries."
* This article appeared earlier in the Febraury issue of Emerce magazine (# 146)