Quantit Investment Advisory, the operator of the artificial intelligence (AI) financial planning platform "Pinter," is expanding into the retirement pension management market.
Quantit Investment Advisory said on the 25th that it launched a "personal retirement pension (IRP) AI discretionary investment service" in partnership with Woori Bank. Users can link a personal IRP account and sign a discretionary contract through the Woori WON Banking application (app).
Quantit Investment Advisory's AI discretionary investment service analyzes an individual's investment propensity and then conducts asset allocation using exchange-traded funds (ETFs) as the underlying asset. By using AI analysis to carry out regular, systematic rebalancing, it is also designed to respond quickly to the market.
Quantit Investment Advisory also plans to provide a monthly report detailing account management status. The company said it lowered investors' expense burden by setting the annual management fee at 0.24%. In addition, users can choose between a management fee and a performance fee (7% per year).
In Dec. last year, Quantit Investment Advisory was selected as an innovative financial service provider for its retirement pension robo-advisor discretionary service. Since then, it has formed a consortium with Woori Asset Management and Woori Bank and prepared to launch the IRP discretionary investment service.
Song Seong-hwan, CEO of Quantit Investment Advisory, said, "Starting with the Woori Bank retirement pension discretionary investment service, we will work to establish ourselves stably in the retirement pension market through cooperation with various pension providers going forward."