OpenMoney
OpenMoney is a robo-adviser that also offers access to real advice. It aims to guide inexperienced investors through financial services and provides a low-cost investment solution on top. Advisers provide a free assessment of an investor’s finances and can recommend the best suited OpenMoney products and portfolios.
Investors can open ISAs, pensions and general investment accounts and there are three ready-made investment portfolios to choose from. The portfolios consist of trackers and are the same as the ones on the eVestor robo. Total fees are a maximum of 0.76% — some of the lowest charges in the market.
Available products & wrappers
General investments | ISAs | Lifetime ISAs | Junior ISAs | Pensions & SIPPs | Junior pensions & SIPPs | Other |
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Table of charges
Platform charges | Product charges | Other charges | |
---|---|---|---|
Robo charge | 0.50% | ||
Product charge | 0.10% | ||
Underlying fund charges | 0.13% to 0.16% |
Minimum investments
Lump-sum | Top-ups | Monthly |
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£1 | £1 |
Compare + Invest review of OpenMoney
Products & wrappers | Research & guidance | Charges | Overall rating |
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Openwork is rare among robo-advisers for focusing primarily on advice. After a 30-minute meeting with an adviser, customers receive a personalised recommendation, and if suitable, an investment plan for one of the three portfolios on offer.
OpenMoney review
Personalised advice and recommendations will reassure many customers who may be wary of fully automated services.