Elphinstone

Elphinstone provides automated portfolio management to individual and institutional clients through a mobile website and apps, acting as sponsor and portfolio manager for a wrap-fee program. The firm offers both advised ETF-based portfolios and the option for clients to make self-directed trades, and its US product has no account minimum.

Advice and portfolio construction are delivered algorithmically using modern portfolio theory and an onboarding questionnaire that sets a sliding risk/return preference; portfolios are allocated between equity and fixed‑income ETFs (with Shariah‑compliant equity and sukuk options for Islamic profiles). Account reviews and rebalancing are performed by Elphinstone’s automated algorithm, and the firm does not provide personalized human investment advice beyond the software’s recommendations.

Noteworthy distinctions include its internet‑only delivery model (Google Play, App Store and mobile site) and a high client-to-advisor ratio (579 clients with automated oversight and roughly $992k in reported AUM), reflecting a reliance on automation to scale. The firm operates a wrap program that absorbs transaction costs, partners with custodians/brokers such as Alpaca, Interactive Brokers and GTN/Velocity (including disclosed payment-for-order-flow arrangements), and maintains an affiliated Pakistan business that both supports technology and places clients with Pakistani mutual funds.