Wombat is a mobile app-based robo-adviser aimed at younger people who are new to investing. The app features 25 themes to choose from with each theme represented by a single ETF. Wombat allows you to pick and compile different themes (ETFs) into a wider portfolio of investments. Wombat has both ISA and GIA accounts.
Wombat is a highly stylised and visual thematic investor that is banking on the fact that investors will be drawn to their areas of interest or belief. While an interesting angle, no mention is made of the benefits of asset allocation and the risks of thematic investment. Wombat customers can also buy fractional shares in well-known companies across the UK and US. Once a portfolio exceeds £250, Wombat charges a robo fee of 0.10%, underlying fund charges and a £1 subscripton fee.
Everything is done on the app. Transaction round-ups are available to help you save and invest more.
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Available products & Wrappers
|General Investments||ISAs||JISAs||Pensions & SIPPs||Junior SIPP||Lifetime ISAs||Others|
Table of charges
|PLATFORM CHARGES||PRODUCT CHARGES||OTHER CHARGES|
|£250+||£1 pm and 0.10%.|
|Underlying fund charge||0.07% to 0.75%|
Compare the Platform Says
|Products & Wrappers||Research & Guidance||Charges||OVERALL SERVICE|
|An interesting approach, but lacks asset allocation overlay.|