as of 26/02/2019 at 10:59 am
Moola is a new ‘robo-adviser’, though the group doesn’t offer advice – unlike a few other groups, you don’t get a series of questions that leads you to a recommended portfolio of investments. What you get is a choice between three ‘plans’ at different levels of risk.
You can’t pick your own funds or shares. You pick one of the plans and your investments are then managed for you. It’s best for beginners and those that want someone else to put together and manage their investments.
Charges start at 0.75% for Moola, and an additional 0.14% for the investments that make up your portfolio. So that’s around 0.9% in total – £9 per year on a £1,000 investment.
They also offer an ethical porfolio that comes at a higher fee of 0.20%-0.33%. So that's around 0.95%-1.05% in total – £9.50-£10.50 per year on a £1,000 investment.
£50 minimum initial amount
"I am a beginner investor and would like to invest in a "socially responsible" Stocks & Shares ISA. I have looked into the Nutmeg and Wealthify funds, having found out about them through the Money Saving Expert website. Is there information about any other such providers on your website? And do you have any advice about how to compare the "socially responsible" criteria on the different funds?"
16/04/2019Read our reply