Robo-advisers were selected as the preferred investment provider by 4% of the UK's mass affluent investors, a sharp increase on the 1.3% seen in 2018.

Goldman Sachs has acquired a large stake in robo adviser Nutmeg, investing £45m in the business as part of the deal.

Robo-advice firm Nutmeg is piloting a full financial advice service.

A former Nutmeg boss has moved to take a new role at investment and wealth management group Walker Crips.