In February, the net inflows of FinecoBank, the multi-channel direct bank of the UniCredit group, amounted to 458 million euro (-11% y/y), with an improvement in the asset mix compared to the previous year. In February, assets under management amounted to 311 million, assets under administration stood at 294,4 million euros and direct assets at -€ 147,5 million.
Since the beginning of 2017, net inflows amounted to 723 million euros (-29% y/y), of which 445 million in assets under management (+693 million y/y), 579 million in assets under custody while direct amounted to – € 301 million. The growth trend of “Guided products & services” continues: since the beginning of the year, inflows amounted to 548 million euros (+490 million y/y), of which 362 million in the month of February alone (2,7x a /to). The incidence on the total AuM rose to 58% compared to 46% in February 2016 and 56% in December 2016.
Funding through the network of financial advisors amounted to 676 million, down 21% compared to the same period of 2016.
In terms of customer acquisition, 21.431 new customers have been acquired since the beginning of the year (of which 9.592 in February alone). The number of total customers as of February 28, 2017 is more than 1.134.000, up 6% compared to February 2016.
Total assets amount to 61.085 million euros (+1,5% and +13,5% respectively compared to December and February 2016).
Satisfied with the comment of Alessandro Foti, Chief Executive Officer and General Manager of Fineco: "The collection data once again confirm the long-term sustainability of a business model based on organic growth and a transparent relationship with customers and fair pricing. February also recorded a further acceleration in the trend of new flows towards advanced advisory solutions, in line with the bank's focus on the quality of the funding mix. Data that underline the ability of the network of financial advisors to better and more efficiently follow customers in the management of their savings, taking advantage of the tools made available as part of our cyborg advisory model."
