Moneyfarm has relaunched its portfolio review service, which allows investors to speak to an adviser to get a better understanding of their investments.
In an email announcing the update, the digital wealth manager stated the free service is intended to give its customers a “holistic overview” of their investment positions.
The session offers a breakdown of each portfolio, showing its level of diversification, risk factor, visualisation of the impact of fees and any other issues customers wish to discuss.
Portfolios on the platform are put together by investment managers rather than a fully automated process, with its technology fine-tuning investments to match each customer’s risk tolerance.
The relaunch of the service comes as Moneyfarm is offering customers a referral bonus of 0.2% off fees for six months for each person they invite to the platform as well as those who join through a referral. This will last until 31 December.
The firm’s fees for a general investment account are tiered, starting at 0.70% to 0.45%, depending on whether active of passive management is chosen.
The management fee can fall further depending on how much money is invested. For example. A £20,000 portfolio is charged 0.65% per annum, while a £100,000 portfolio is charged 0.45%/
The business was launched in Italy 2012 by Italian bankers Paolo Galvani and Giovanni Dapra. It is now headquartered in the UK.
It currently serves more than 130,000 active investors, for whom it manages more than £4 billion in assets.
Last year the company introduced thematic investing, allowing users to invest in a series of growth-oriented themes. These include Technology, Sustainability, Society or a mix of all three.
The latest Good Money Guide review of Moneyfarm found it to overall be a “great investment platform for a broad range of wealth and investing goals”.
Robin has more than six years of experience as a financial journalist, most of which were spent at Citywire, and covers the latest developments in the investing, trading and currency transfer space. Outside of work, he enjoys reading literature and philosophy and playing the piano.
You can contact Robin at robin@goodmoneyguide.com
