SBO Invest

What SBO Invest does

SBO Invest is a digital wealth management platform offered by Sparkasse Schwaben-Bodensee, a public-law savings bank (Anstalt des öffentlichen Rechts) headquartered in Memmingen, Bavaria, Germany. It serves individual retail investors — including joint depots and junior depots for minors — through a fully digital, paperless onboarding flow that combines an online risk-profiling questionnaire (Anlageassistent) with remote identity verification (video, eID, or Face-Ident). The platform presents two portfolio approaches: Select (globally diversified, predominantly ETF-based with active fund overlays) and Select ESG (sustainability-screened equivalents), each available in five risk tiers (0, 25, 50, 65, 90). Assets are custodied at DekaBank Deutsche Girozentrale and professionally managed by Deka Vermögensmanagement GmbH, which also delivers the Autopilot service (automated fund switching, rebalancing, and structural adjustments) and the optional Anlageschutz loss-protection module (threshold-based reallocation into money market funds at -5% to -20% drawdowns, for an additional 0.20% annual fee). Customization is offered through up to three Investmentthemen thematic overlays (AI, Cybersecurity, Climate, Healthcare, Digital Lifestyle, etc.) and the Sparen durch Dritte gifting feature, which lets third parties contribute to existing depots.

The business model is a subscription-style recurring fee on average depot value: 1.50% per year for the base service (1.70% with Anlageschutz), plus third-party fund costs of 0.12%-0.24% (0.16%-0.21% for Select ESG). SBO Invest charges no transaction fees, no issue surcharges (Ausgabeaufschläge), and no depot fees, and rebates commissions on actively managed funds to customers. Minimums are 25 euros per month for a recurring savings plan or 500 euros one-time. Distribution is entirely digital (sbo-invest.de website and mobile app) plus cross-sell from the Sparkasse Schwaben-Bodensee branch network across southwestern Bavaria. A 50 Euro welcome bonus promotion (01.06.2026 – 31.08.2026) is currently active to drive new customer acquisition.

Name

SBO Invest

Legal name

Sparkasse Schwaben-Bodensee

Website

https://sbo-invest.de

Company type

Private

Operating status

Operating

Short description

SBO Invest is a digital wealth management platform offered by Sparkasse Schwaben-Bodensee, serving Bavarian retail investors with professionally managed ETF-based portfolios via Select and Select ESG strategies, paperless onboarding, and an optional automated risk-protection module.

Ownership category

akta.pro rank

Product category

Digital Wealth Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Direct-to-Consumer Robo-Advisors (Retail Automated Portfolios) (FSAGAEAA)

akta.pro secondary industries

Robo-Advisors & Digital Wealth Managers (FSAAAAAD), Digital/Hybrid Robo-Wealth & Retirement Advisory (FSAEABAK)

Keywords

• Digital wealth management
• Portfolio management
• ETF investing
• ESG investing
• Savings plans

Headquarters

HQ city

Memmingen

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure, Others

Revenue model

1. Service Fee (Management Fee): SBO Invest charges an annual service fee on the average depot value. The base fee is 1.50% per year. With Anlageschutz enabled, the fee increases to 1.70% per year (1.50% + 0.20% for protection). Fees are debited annually in December from the customer's reference account.
2. Third-party Fund Costs (Fremdkosten): In addition to the service fee, third-party costs are charged by the respective capital management companies for fund administration, audit, and custody. These vary by selected portfolio and range from 0.12%-0.24% for Select and 0.16%-0.21% for Select ESG.
3. Commission Rebates on Actively Managed Funds: SBO Invest refunds commissions (provision refunds) received from actively managed funds to customers. No transaction fees, no issue surcharges (Ausgabeaufschläge), and no additional depot fees are charged.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

SBO Invest is a fully digital wealth management platform that enables private investors to open a depot online, complete a risk-profiling questionnaire (Anlageassistent), and invest in professionally managed globally diversified ETF and actively-managed fund portfolios across five risk levels. The platform offers two portfolio concepts — Select (conventional) and Select ESG (sustainability-screened) — with optional Anlageschutz downside protection, Autopilot automated rebalancing, customizable Investmentthemen overlays, and a Sparen durch Dritte gifting feature, all delivered via a paperless web and mobile app experience backed by Sparkasse Schwaben-Bodensee, DekaBank custody, and Deka Vermögensmanagement asset management.

Product overview

SBO Invest is a digital wealth management platform operated by Sparkasse Schwaben-Bodensee (a German public-sector savings bank), providing retail investors with a fully digital, paperless depot-opening process and professionally managed ETF/fund portfolios. The platform is built around two portfolio approaches — Select (conventional diversified portfolios) and Select ESG (sustainability-screened equivalents) — each offering five risk tiers (0, 25, 50, 65, 90). Users are onboarded via the Anlageassistent, a questionnaire-based profiling tool that recommends a tailored strategy; the core Autopilot service then continuously manages fund selection, structure, and rebalancing automatically. Optional paid add-ons include the Anlageschutz loss-protection module and customizable Investmentthemen overlays for thematically focused exposures (AI, climate, infrastructure, etc.). All portfolio management is outsourced to Deka Vermögensmanagement GmbH, with assets held in a depot at DekaBank. The platform also offers Sparen durch Dritte, enabling friends and family to contribute gifts to a depot.

Differentiator

Problem solved

Functional benefit

Brands

• Select: Classic investment concept with globally diversified portfolios using predominantly cost-efficient ETFs across different asset classes. Offers five risk levels (Select 0, 25, 50, 65, 90) with optional investment themes.
• Select ESG
• Anlageschutz
• Autopilot
• Anlageassistent
• Sparplan
• Sparen durch Dritte

Products and services

• Select Conventional investment concept with globally diversified ETF-based portfolios across five risk levels (Select 0, 25, 50, 65, 90). Built on Michaud-Resampling quantitative portfolio construction by Deka Vermögensmanagement GmbH, with optional Investmentthemen overlays and Anlageschutz risk protection. Designed for individual retail investors seeking professional, low-cost digital wealth management.
• Select ESG Sustainability-oriented investment concept following the same five portfolio risk tiers (Select ESG 0, 25, 50, 65, 90) as Select, but with fund selection restricted to ESG criteria, exclusion of companies violating UN Global Compact principles, alignment with EU Sustainable Finance Disclosure Regulation (SFDR Article 8), MSCI ESG scoring (BBB minimum), and a target of at least 5% sustainable investments aligned with UN Sustainable Development Goals.
• Anlageassistent (Investment Assistant) A guided digital questionnaire that profiles the investor's risk tolerance, financial situation, investment knowledge, and time horizon to recommend a suitable Select or Select ESG portfolio strategy. Available in less than 5 minutes and offered for individual, joint, and junior depot types.
• Autopilot Fully automated portfolio management service comprising fund switching (Fondstausch) when better alternatives are identified, automatic portfolio structure adjustments (Anlagestruktur) based on market conditions, and rebalancing to target allocation (quarterly or annually). Delivered by Deka Vermögensmanagement GmbH specialists and included in the Select and Select ESG service offering.
• Anlageschutz (Investment Protection) Optional risk-management add-on that monitors the portfolio's daily value against a defined loss threshold (ranging from -5% for Select 0/ESG 0 to -20% for Select 90/ESG 90); if breached, assets are automatically reallocated into a money-market fund with automatic re-entry when markets recover. Costs an additional 0.20% p.a. on top of the base service fee.
• Investmentthemen (Investment Themes) Thematic investment add-on allowing users to overlay their Select or Select ESG portfolio with up to three specialist themes, including Klimawandel (Climate Change), Wasser (Water), KI (Artificial Intelligence), Digital Lifestyle, Gesundheit & Pflege (Healthcare), Industrie 4.0, Infrastruktur, Cybersecurity, and Video Gaming, via dedicated thematic funds selected by Deka's fund research team.
• Sparen durch Dritte (Savings by Third Parties) Gifting feature allowing family and friends to transfer money into a SBO Invest depot via bank transfer (with QR code, email, or WhatsApp shareable payment details), automatically invested according to the depot owner's chosen allocation. Accelerates wealth building and provides a viral acquisition channel.
• SBO Invest Sparplan (Savings Plan) Monthly recurring savings plan that enables investors to invest regularly from €25 per month into their chosen Select or Select ESG portfolio strategy. Can be combined with one-time investments from €500 and is unbonded with no fixed term.

Quantifiable outcome

• No transaction costs, no issue surcharges, and no depot fees for customers
• +2 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Six partnerships are on record, tiered core and supporting.

• DekaBank Deutsche GirozentralecoreTechnology or IntegrationSBO Invest (Sparkasse Schwaben-Bodensee) acts as an intermediary, facilitating the opening of depot contracts between customers and the DekaBank. The DekaBank serves as the custodian for customer funds, holding them in a depot at DekaBank, which is part of the Sparkassen-Finanzgruppe. DekaBank is also responsible for identity verification during depot opening and ongoing data exchange including transaction data, portfolio holdings, and important documents (quarterly reports, annual statements).
• Deka Vermögensmanagement GmbH (DVM)coreStrategic or Co-development PartnerSBO Invest facilitates the conclusion of asset management contracts between customers and Deka Vermögensmanagement GmbH (DVM). DVM provides the professional portfolio management including fund selection, the Autopilot service (automatic fund switching, rebalancing, and portfolio structure adjustments), the Anlageschutz service (investment protection), and the ESG investment strategy for Select ESG portfolios. DVM's experts use scientific quantitative methods (Michaud-Resampling approach) for portfolio construction.
• Sparkasse Schwaben-BodenseecoreStrategic or Co-development PartnerSBO Invest is a digital wealth management product developed and offered by Sparkasse Schwaben-Bodensee (Anstalt des öffentlichen Rechts). Sparkasse Schwaben-Bodensee operates regionally across southwestern Bavaria (from Augsburg through Unterallgäu to Bodensee). It provides the digital platform, customer support, identification services, and acts as the contracting party for the SBO Invest service. It has operated in the region for approximately 200 years.
• MSCI Solutions LLCsupportingTechnology or IntegrationMSCI Solutions LLC provides ESG data and ratings used in the Select ESG investment strategy. MSCI ESG scores are used as part of the fund selection criteria (funds with ESG ratings below BBB are excluded). MSCI also provides the Government ESG Score used to measure the environmental and social quality of sovereign and quasi-sovereign holdings in ESG portfolios.
• United Nations (SDGs Alignment)supportingTechnology or IntegrationThe Select ESG investment strategy aligns with the UN Sustainable Development Goals (SDGs). The 17 SDGs inform the classification of sustainable investments, which are required to contribute to at least one SDG. The strategy also references UN Global Compact principles and the Principles for Responsible Investment (PRI) supported by the UN.
• Adobe (Analytics and Experience Cloud)supportingTechnology or IntegrationSBO Invest uses Adobe Analytics for website usage analysis (statistical purposes) and Adobe Experience Cloud for marketing personalization. Both services involve data processing with customer consent. Adobe operates globally and uses sub-processors including Adobe Systems Incorporated in the USA.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Quirion: German digital wealth manager offering managed ETF portfolios with multiple risk profiles, ESG options, and scientific portfolio construction. Closely comparable to SBO Invest on product structure, methodology (quantitative optimization), and German retail targeting.
• Scalable Capital: Germany's largest independent retail robo-advisor, offering managed ETF portfolios with risk profiling, automatic rebalancing, and low fees. Directly comparable to SBO Invest in target customer (retail investors), product (managed portfolios), and digital onboarding, though operating nationally and at significantly larger scale.
• MorgenFund: A digital wealth platform also built on DekaBank infrastructure, offering managed funds portfolios to retail investors through cooperative banks. Operates in parallel to SBO Invest within the German savings-bank ecosystem and shares the same underlying Deka custody and asset management stack.
• Union Investment: Asset manager of the German cooperative banking group (Volksbanken Raiffeisenbanken), offering managed portfolios and savings plans through partner banks. Comparable to SBO Invest as a sister product within the German public-banking wealth management ecosystem with similar cooperative/savings-bank distribution model.

Broad incumbents

• Betterment: Pioneering US digital wealth manager offering automated ETF portfolios with goal-based planning and tax optimization. Comparable to SBO Invest on automated managed portfolios, risk profiling, and low-fee digital onboarding, serving as an international reference point for the D2C robo-advisor model.
• Wealthfront: US-based digital wealth manager offering automated ETF portfolios with risk profiling, tax-loss harvesting, and direct indexing. International benchmark comparable to SBO Invest on robo-advisory product structure, automated rebalancing, and risk-tiered portfolios, though serving the US market.
• DWS Group: One of Europe's largest asset managers (formerly Deutsche Bank's asset management arm), offering retail managed portfolios and Xtrackers ETFs across multiple European markets. Comparable to SBO Invest on underlying ETF portfolio construction methodology, though operates at much larger scale with broader institutional and retail distribution.
• Comdirect / Commerzbank Wealth Management: Major German retail broker and bank offering managed wealth products, savings plans, and ETF portfolios. Comparable to SBO Invest on retail German investor targeting and product breadth, though part of a much larger universal bank group with broader service portfolio.

Emerging players

• Trade Republic: German neo-broker expanding into managed investing products (savings plans, managed portfolios). Comparable to SBO Invest on retail German investor targeting, mobile-first UX, and low entry minimums, though primarily execution-led rather than fully managed.
• Liqid: German digital wealth manager focused on affluent and high-net-worth retail investors with managed ETF portfolios. Comparable to SBO Invest on digital onboarding and managed portfolio structure, but targets higher ticket sizes and serves customers nationally.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights3 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SBO Invest