Any experience of 'Moola' robo-investment?

dunstonh wrote: »

!!!!!!!!!! They are nowhere near the industry typical rates. This morning I completed a case with 0.33% and just starting one that is 1.3% (both all in for ongoing). That is full advice. DIY investors typically pay around 0.5-0.7% Some of these robo-advice sites really misrepresent the charges that are present elsewhere.



Ok, so everyone pays 0.75%. Thats in nice big text and clear to see. However, its not right. Expand the fee explanation (which is initially hidden) and it says:

So, its not 0.75%. Its now at 0.9%.

Why do these companies try and hide their charges and misrepresent others.

Forgive my ignorance. Is this in addition to the fund fee? I know platform is 0.75%, plus the 0.15-0.16% etf hidden fee, but I cant find if there is also a fund fee.

AnotherJoe wrote: »

Its not a hidden ETF fee, since they tell you what it is, and the "fund" is the ETFs that make up your investment.

Thanks. I meant the etf fee is relatively hidden (at the very bottom of the fee section behind some drop down menus and expandable tables). And it is deducted from the investment so does not appear as an identifiable charge. So not quite fully transparent I would say.

With other providers I am used to a platform fee and an OCF charge. Hargreaves Lansdown is 0.45% platform fee plus 0.22% ocf for a specific fund (which contains other funds) for example.

My question (which I think you answered) was whether Moola apply a clear 0.75% plus say 0.15% per etf, and then plus a fund fee for the management of the basket of etfs. Or, is the etf fee with moola the equivalent to an ocf?

Herbalus wrote: »

Thanks. I meant the etf fee is relatively hidden (at the very bottom of the fee section behind some drop down menus and expandable tables). And it is deducted from the investment so does not appear as an identifiable charge. So not quite fully transparent I would say.

With other providers I am used to a platform fee and an OCF charge. Hargreaves Lansdown is 0.45% platform fee plus 0.22% ocf for a specific fund (which contains other funds) for example.

My question (which I think you answered) was whether Moola apply a clear 0.75% plus say 0.15% per etf, and then plus a fund fee for the management of the basket of etfs. Or, is the etf fee with moola the equivalent to an ocf?

It isnt deducted from the investment. Its the fee the ETF charges within itself and it would be the same fee if you held that ETF via HL or iii or whoever.

There is no additional fee for the "basket of etfs" that is what their 0.75% fee is for, its the platform fee in the same way as HL have a platform fee of 0.45% fee, though more of course.

OTOH to buy £1200 of ETFs spread across several would be much more expensive with HL or iii or an IFA as there will be transaction charges to buy the ETFs, indeed whilst DunstonH says their fees are much less as a % and maybe they are, as an amount he isnt going to charge the £9 a month (or whatever it was) that moola would charge indeed he wouldnt be interested in someone saving £100/month.

JPears wrote: »

If I have both a Moola and an Orbis "platform", can both be in my s&s ISA wrapper or are you only allowed one "platform"?

Your S&S ISA contributions for this tax year needs to be with one provider but you could do the Orbis ISA offer and the Moola GIA offer. Moola defaults to ISA but there is a point early in the application process you can change to a GIA. At £100 per month it is highly unlikely that the Moola investment performance would cause you to pay tax anyway.

Alex