20 November 2017
visit www.avoka.com

UK robo-advisor Munnypot goes live

12 January 2017  |  2601 views  |  0 Source: Munnyport

Munnypot, a new service offering clear, affordable online financial advice to all is live from today.

Munnypot’s founders aim to help close Britain’s financial advice gap, which affects 16 million people1, by making high quality advice available to everyone.

Munnypot is an online savings and investment service giving anyone straightforward automated financial advice in a language they can understand, at a fraction of the cost of most financial advisers. The service requires a minimum investment of £25 per month and/or a £250 single investment amount.

It provides an intuitive WhatsApp style ‘chat-based’ user-interface that advises people on their savings and investment decisions. Conversational and jargon-free questions, coupled with state of the art technology and algorithms, learn about your financial situation and risk profile to help set the lifestyle goals you’re investing towards.

For each goal, from saving for a house deposit or a dream holiday, the time-frame, target amount and risk profile of each savings pot can be individually tailored to meet the needs of that investment. Munnypot then offers clear advice on where to invest your money2, and monitors your investment 24/7 to help ensure your goals are on track.

Unlike some other robo-advisors on the market, Munnypot doesn’t just track customer accounts, it works 24/7 to help ensure they achieve their goals- alerting people, in real time, when their goals are off-track and providing straight forward financial advice to help get them back on track.

Fees are clear, all-inclusive and affordable - not hidden behind layers of jargon or buried in lengthy T&C’s. Munnypot’s quick and easy fee calculator is designed to remove any confusion for investors by presenting costs upfront. For example, those looking to invest a total contribution of between £250 and £2,500 would pay a £5 one off fee for initial advice and a £0.42p monthly monitoring fee.

Munnypot launches as new data3, out today, reveals that almost a third (32%) of Britons don’t currently save any of their annual income. Despite this, the vast majority (76%) of people say they want to save more each month. But almost a quarter (24%) dismiss saving accounts as ‘pointless’ due to record low interest rates3.

Simon Redgrove, co-founder of Munnypot, said, “Wealthy investors have been using first generation robo-advice services for years, but until now they’ve not been accessible to the majority of people, particularly those who have little or no savings. We’re aiming to change that with a more intuitive and more cost-effective service that anyone with £25 a month to invest can use. We are determined to help Britain fall in love with saving again.”

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
visit https://www.niceactimize.comvisit www.vasco.comvisit www.aciworldwide.com

Top topics

Most viewed Most shared
Ripple boss predicts central bank adoption of blockchainRipple boss predicts central bank adoption...
18457 views comments | 28 tweets | 31 linkedin
Singapore central bank open sources blockchain prototypesSingapore central bank open sources blockc...
12737 views comments | 16 tweets | 29 linkedin
AmEx partners Ripple and Santander for blockchain-enabled cross-border paymentsAmEx partners Ripple and Santander for blo...
11307 views comments | 15 tweets | 41 linkedin
UK cryptocurrency exchange startup launches debit card for spending bitcoinUK cryptocurrency exchange startup launche...
9126 views comments | 26 tweets | 37 linkedin
Barclays warns of unprecedented online fraud this ChristmasBarclays warns of unprecedented online fra...
8523 views comments | 15 tweets | 31 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job