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  • FIRST POST
    • LHZ
    • By LHZ 11th Apr 18, 9:31 AM
    • 24Posts
    • 8Thanks
    LHZ
    Any experience of 'Moola' robo-investment?
    • #1
    • 11th Apr 18, 9:31 AM
    Any experience of 'Moola' robo-investment? 11th Apr 18 at 9:31 AM
    Hello all. I'm tempted to take up the latest offer from Moola robo-investment platform via MSE (125 cashback after 12 months with minimum 1200 investment over the year). Does anyone have any experience of this? Seems like a reasonable offer. Also, is there any reason for me not to put this in a S&S ISA? I'm completely new to this and whilst I've been tempted to jump in to shares I've always held off. This Moola app seems an easy way in.

    Many thanks!
Page 3
    • fun4everyone
    • By fun4everyone 12th Apr 18, 5:15 PM
    • 1,245 Posts
    • 1,892 Thanks
    fun4everyone
    We applied just before 2pm yesterday and just received the below email.
    Originally posted by Alexland
    Well done, I was going to apply today and see I am too late.
    • dunstonh
    • By dunstonh 12th Apr 18, 11:42 PM
    • 97,007 Posts
    • 64,995 Thanks
    dunstonh
    Real advice would have an initial charge. Lets say 2%. However, if its 0.5% a year cheaper than Moola then it will breakeven with a short number of years.

    Advisers are not interested in small amounts. Its not cost effective. However, for larger amounts, it would be better to use an adviser or a better DIY option.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • thenewcomer
    • By thenewcomer 13th Apr 18, 6:32 AM
    • 97 Posts
    • 22 Thanks
    thenewcomer
    Where can you get bespoke financial advice for 7.50.?
    Originally posted by AnotherJoe
    HSBC has been trying to offer me to meet up with their financial advisor for years for free. ive not taken it up.
    Aim to retire by 45.
    • Malthusian
    • By Malthusian 13th Apr 18, 10:06 AM
    • 5,271 Posts
    • 8,706 Thanks
    Malthusian
    Where can you get bespoke financial advice for 7.50.?
    Originally posted by AnotherJoe
    Read the rest of my post. Moola are not targeting portfolios of 1,000, and if they were, they would run out of VC money and go bust.

    You know thats pushing the concept of bespoke
    by herbalus
    AnotherJoe didn't say that Moola offers bespoke advice, he's disputing my assertion that you can get bespoke advice for the same cost as Moola. Which you can - albeit not from every IFA - assuming you have the kind of portfolio that Moola is targeting.
    • Alexland
    • By Alexland 13th Apr 18, 11:59 AM
    • 4,486 Posts
    • 3,837 Thanks
    Alexland
    Their business plan might have ambitious long term aspirations for their ideal target customer but for now they are only asking 100 per month to get any random cashback punters through the door. Guess everyone has to start at the bottom.

    I don't see how this is any better than Moneyfarm which is also pretty average. Still happy to take their free money.

    Alex
    • Alexland
    • By Alexland 28th Apr 18, 7:17 AM
    • 4,486 Posts
    • 3,837 Thanks
    Alexland
    The first 100 direct debits left our joint account earlier this week (tick) and I logged in today to see how they were invested and it says "The funds we invest in on your behalf will appear here from 4th Jun" which seems a pretty long time away. Are we invested in the market? Who knows.

    I take back my above comment - so far they are making Moneyfarm look good.
    • Herbalus
    • By Herbalus 28th Apr 18, 8:16 AM
    • 2,278 Posts
    • 1,950 Thanks
    Herbalus
    The first 100 direct debits left our joint account earlier this week (tick) and I logged in today to see how they were invested and it says "The funds we invest in on your behalf will appear here from 4th Jun" which seems a pretty long time away. Are we invested in the market? Who knows.

    I take back my above comment - so far they are making Moneyfarm look good.
    Originally posted by Alexland
    That's interesting. My DD left on 23 April and I logged in to the following messages: "The initial investment process usually takes around 6 working days to be up and running."

    I also have the following: "We have received your money and it's being held by Winterflood, your first trades are in progress."

    Interesting to know how your c6 weeks have come about.
    • slapmatt
    • By slapmatt 28th Apr 18, 8:43 AM
    • 101 Posts
    • 1,072 Thanks
    slapmatt
    The biggest downside for me of these platforms is that there is no cap on the fees. So once you get up to around 6,000 invested the fees will start to exceed to maximum charged by the likes of HL and Fidelity.
    • Herbalus
    • By Herbalus 28th Apr 18, 8:48 AM
    • 2,278 Posts
    • 1,950 Thanks
    Herbalus
    The biggest downside for me of these platforms is that there is no cap on the fees. So once you get up to around 6,000 invested the fees will start to exceed to maximum charged by the likes of HL and Fidelity.
    Originally posted by slapmatt
    Are you going to be there when you have 6k in it?
    • Alexland
    • By Alexland 28th Apr 18, 9:12 AM
    • 4,486 Posts
    • 3,837 Thanks
    Alexland
    Moola's fees are 0.75% + fund costs so are more expensive than holding funds on HL from day 1.
    • cfw1994
    • By cfw1994 6th Feb 19, 11:41 AM
    • 236 Posts
    • 150 Thanks
    cfw1994
    Holy Thread resurrection, Batman!

    Just curious how folk are going with their Moola investments?
    I (perhaps foolishly!) went adventurous (heck, in for a penny...), & thus far, the 100pcm has swallowed 1100 of my cash....with a value of 1088....could be worse

    For me, the main draw was the bonus:
    UPDATE: Just spoke to Moola via online chat. They told me that they will be making sure that the MSE cashback is paid in the 2018/2019 tax year. They also confirmed that I was eligible for the cashback (I applied around 10:30am yesterday).
    Originally posted by LHZ
    Any update on WHEN they will pay that in?!

    <edit to add> - they have pointed me to this page, which suggests it will occur before April 30th...& "Once the cashback has been paid into your Moola account (ISA or GIA) it will be invested in the next investment cycle"

    Do we need to stop DDs to prevent an ISA being started for next year?
    I had nothing else this year (& no spare cash lying around aside from this small amount), so it made sense, but I will revisit things for 2019-20....might need to dig deeper into when the "investment cycle" happens to whip the bonus out & prevent it being invested (& thus forming a 2019 ISA!)
    Last edited by cfw1994; 06-02-2019 at 12:58 PM.
    • TBC15
    • By TBC15 6th Feb 19, 2:23 PM
    • 760 Posts
    • 417 Thanks
    TBC15
    HSBC has been trying to offer me to meet up with their financial advisor for years for free. ive not taken it up.
    Originally posted by thenewcomer
    Always worth a sit down with a nice cup of coffee. When the man in the suite tells you what he could have done with your money last year, show him what you did. Could be a reality check either way.
    • Shedman
    • By Shedman 6th Feb 19, 2:59 PM
    • 252 Posts
    • 169 Thanks
    Shedman
    Holy Thread resurrection, Batman!

    Just curious how folk are going with their Moola investments?
    I (perhaps foolishly!) went adventurous (heck, in for a penny...), & thus far, the 100pcm has swallowed 1100 of my cash....with a value of 1088....could be worse

    For me, the main draw was the bonus:


    Any update on WHEN they will pay that in?!
    Originally posted by cfw1994
    The wife and I went for this as well but both went for Conservative option. I dumped my 1200 in one lump (well strictly it was 200 followed by 1000), the wife's was 200 followed by 100 a month over 10 months so we both now have contributed the full 1200 required. Mine is showing around 1195 and hers is actually in profit at 1203 woohoo. Assuming they do pay out the 125 each (and we had email confirming we're eligible) then pretty happy with that.

    We have stopped Wife's DD now as well by the way. We're both in general investment accounts not ISAs so obviously the timing of the bonus doesn't impact so much but hopefully they will do as promised and pay out the bonus before end of current tax year. Might be worth somebody who went for the ISA version giving them a nudge and double checking.

    Don't think we'll be able to repeat last years bumper referral / cashback / bonus / switches offers this year as we seem to have already done most of the ones that are still around. Oh well reckon we've had over 2500 from them so far in this tax year so can't complain.
    Last edited by Shedman; 06-02-2019 at 3:02 PM.
    • Alexland
    • By Alexland 6th Feb 19, 10:18 PM
    • 4,486 Posts
    • 3,837 Thanks
    Alexland
    We are 10 months into the Moola balanced risk option and down about 2 on each account today. At worse we were around 30 down a couple of months ago. Again it's a GIA so not too precious on the timings of the bonus.

    Similar to our GIAs with Wealthify and Orbis we are only looking for the bonus and to get most or all of our original capital back so not taking too much risk.

    Alex
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