What we say
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This platform will interest those who enjoy researching a mix of funds to create their own ‘pick and mix’ ISA. You will effectively be in a shop that only has what the shopkeeper likes on the shelves – so if you want to buy shares, you can’t, and if you want to buy a fund that isn’t stocked – tough. Effectively you’re buying access to the investment research and the fund list curation. A lot of thought has gone into ‘translating’ the fund’s objectives into language that actually means something, which is nice. Will still fry beginners’ brains in part but could be a nice experience for those keen to learn more.
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Ease of use
Tillit’s website has a crisp, modern design that is based around the user experience. It is easy to navigate around, aided by the availability of a video tour, which helpfully walks you around the site and shows you how to use the different tools. Chat is prominent and there is a sense – which is well-surfaced – that there is someone there to help you.
Once you sign up to Tillit with an email address, you can access the fund universe, which is when the website really starts to come alive. This is a separate stage to actually opening an investment account.
Mobile & Apps
Tillit do not currently have an app, but the site is quite simple to use on mobile and just as sleek.
Behind the scenes
The main USP is its fund research and guidance, which is the prominent feature of the logged in experience. Users are presented with a homepage neatly filled with a hive of hexagons, with each hexagon containing an investment focus, region, structure, or asset class. When clicking on any term, users are provided with a layman definition and can then find a list of relevant investments. Allowing Tillit users to “invest with ease in handpicked funds” is at the core of its offering and it definitely does exactly that.
The fund universe itself comprises of a precise selection of funds that Tillit consider to be ‘best-in-class’ and has a wide range of filters that can be applied to help you find the specific investment best for you. Each fund name has an innovative, short headline sentence that summarises what the fund is, which is a novel, unique and interesting way of conveying a key message that often gets lost.
An online chat feature – only available when logged in – also offers the option to book a short call to provide feedback on the platform.
Stocks and Shares ISA
SIPP expected to be launched later in 2022
The 'Geeky' Details
Tillit is a new addition to the DIY platform world for those who want some help in picking funds. With an ex-Baillie Gifford fund manager as the founder and a long-term goal of building the world’s best fund boutique, Tillit is focused on building a platform that makes investment decisions easier for consumers.
Tillit is unique in its approach as a platform, opting to offer a limited range of investments that it believes to be the best, instead of thousands of options for users to pick through. It covers a wide range of sectors/regions and offers a comprehensive filtering system to help users find exactly what they’re looking for. Simultaneously, Tillit provide jargon-busting flashcards, clear explanations and interesting, colloquial fund summaries/definitions, equipping users with the understanding that allows them to make informed decisions about their investments by themselves. This is compounded with an informative ‘insights’ section on the website, with quarterly market reviews and opinion pieces on various interesting topics.
Users currently have the option of an ISA and a General Investment Account (GIA), however Tillit is planning to launch its SIPP later this year. The fee structure is distinctive, rewarding long-term users, with the platform fee starting at 0.40% and reducing by 0.01% every year that you have a Tillit account, with a minimum fee of 0.25%. It’s not the cheapest so you are paying for the research and information, without getting all the bells and whistles of the bigger players.
The platform has around 100 investment options, does not offer access to shares and does not charge any trading fees (even on ETFs and Investment Trusts).
Important Facts & Figures
Provider size: Tillit is a fintech startup that opened to the public in late 2021.
Minimum amounts: £1