More catch up chronicals from the incumbents.
Do these moves pose an existential threat to the likes of Wealthify, Moneybox, etc? Or even Monzo, who suggested they were looking at offering their own capital at risk investment product?
A simple digital tool, for a new kind of investor
Sounds a bit like a roboadvisor. I wonder what their fees are?
They sell a “suitability report” for £20 under “Invest with online advice” Says it all.
I don’t think so. Moneybox is a very different product, and I think there’s enough room for indy robo advisors like Wealthify even if banks get involved. Although I’d question why people even bother with robo advisors when Vanguard Lifestrategy offers much better value for money and only slightly higher knowledge requirement on the part of the investor.
Must have missed that. When did they say this and did they give any more information?