Silo goes beyond the existing market offering in giving users three ways to save using one platform. It allows users to set up either a Stocks & Shares ISA or General Investment Account (GIA) in fewer than 15 minutes, enabling instant access to a tailored, well-diversified portfolio of funds managed by Killik & Co’s Mick Gilligan. Investors are offered three effortless ways to save into a selection of up to 16 different funds, according to personal preference and circumstances:
• MONTHLY RECURRING SILOS - users can contribute via Direct Debit from as little as £25 a month

• INTELLIGENT SILOS - users can link their bank account to the app, which, using AI-powered algorithms, studies their spending habits, calculates how much they can afford to set aside each day and makes investments on their behalf

• SILO AD HOC BOOSTS - ‘Boosting’ in-app enables users to add money to their funds anytime. Users are easily able to withdraw money from Silo anytime at no cost
Powered by Killik & Co’s award-winning investment management and financial planning teams, users looking for more in-depth advice as their investment journey progresses, are able to easily move onto a more advanced service.

Silo is available to download through the Apple App Store and Google Play.
Georgie Killik, Head of Innovation at Killik & Co, said:
“With the wealth management sector becoming increasingly automated, more clients are looking for tailored, yet accessible save and invest solutions. We are so excited to bring Silo to market - a true labour of love, we have been working hard on building a save and invest service that has been designed to both look and feel innovative.

“Silo offers three different ways to save, enabling users to begin their investment journey in a way that meets their needs. Regular savers can opt in for the Monthly-Recurring Silos, whereas contractors or ad-hoc savers would find “boost” more appropriate. For added efficiency, Silo’s Intelligent Saving algorithm can determine available cash to help meet the users’ objectives. These advanced technological and personalised features of the app make the experience beautifully simple.

“The launch of Silo coincides with Killik & Co’s 30 year anniversary and showcases our long-standing mission to make the benefits of investing easily accessible to all, whether you are a seasoned investor or a young professional who is looking to grow their lifetime savings and do more with their money. Today, we get a step closer to achieving that goal with the launch of Silo, our intelligent save & invest app”

Clem MacTaggart, Chief Operating Officer at Killik & Co says:
“Over the next few years, our intention is to transform the Killik & Co business and we aim to achieve this through the build and licensing of new technologies. We are acutely aware that our industry is changing as a result of both new disruptive technology and, most importantly, a changing client need. Because of this, we have never been more receptive to, and directed by, the needs of the consumer.

Our ultimate aim is to have a technology stack that is able to support our existing business, with the scope to expand to a new set of services and users. These will include intelligent savings, new branch concepts, stronger integration, business risk mitigation and much more. Silo is just one step on this journey.”