With an overall grade of 1.6, we shine in a major comparison of digital asset managers by Stiftung Warentest. Especially in focus: costs and transparency towards investors.
Nothing is harder than defending a title, they say in sport. All the more, then, are we delighted that we can still call ourselves test winner at Stiftung Warentest. In the current major comparison of digital asset managers (Finanztest 7/2021), we once again perform brilliantly in many of the categories examined – and take the win in the evaluation for a sample portfolio of €40,000. "Returns for everyone, that's our vision," underscores quirion founder Karl Matthäus Schmidt. "That's why we see it as confirmation to stand out in the current test especially on transparency and costs." After all, costs make up a large share of what ends up being left over from an investment at the bottom line.
Evaluation of two sample portfolios
A total of 25 digital asset managers that offer portfolios with funds entered the race. Stiftung Warentest examined two model cases: the first evaluation involves a sample investor who has parked €55,000 in an overnight deposit account and wants to have €40,000 of it managed by a robo-advisor for ten years. The second evaluation revolves around investing €100,000 out of total financial assets of €115,000. Particular weight is given to the information offered on product and costs (45 percent) as well as the costs themselves (40 percent). The grading scale ranges from "very good" (0.5 – 1.5) through "good" (1.6 – 2.5) to "poor" (4.6 – 5.5).
First place for the €40,000 sample portfolio
In the evaluation of the €40,000 sample portfolio, we come out right at the front of the field with a rating of 1.6. In doing so, we achieve a "very good" (0.8) in the "Information on product and costs" category. On "annual costs," we are the second best in the overall field with the grade "good" (2.2). In the evaluation of the €100,000 sample portfolio, we take the "silver" spot with a rating of 1.6. These grades carry even more weight given that Stiftung Warentest handed down an overall verdict of "poor" to eight digital asset managers.
We score not only in the main categories of transparency and costs, but also on "determining the client's status." This category is about whether the client's profile is determined precisely enough before the portfolio is opened – such as the investment goal, the financial situation and the investor's financial knowledge. With the grade "very good" (1.3), we achieve a rating in both sample portfolios that no other participant can beat. Flaws in the portfolio or in the contract terms? "None," is the test verdict.
Expanding our pioneering role
"There are now quite a few digital investment solutions like robo-advisors," observes Martin Daut, CEO of quirion. "We took on a pioneering role in 2013 and are delighted that our services continue to impress." From the very beginning, quirion has focused on diversifying wealth as cheaply as possible via ETFs and, through these, implementing a transparent, forecast-free investment strategy. "We're working to remain a pioneer in our industry and, if possible, to expand this role even further."
You can find more on the test results here.
