Our ongoing advice to you

Will Lenehan

Financial Adviser

October 13, 2021

We care about our customers. Helping you make the right financial decisions and reach your financial goals is as rewarding for us as reaching those goals is for you; we’re in this together!

We also understand that the road to reaching your financial goals isn’t straightforward, and it can be a little bumpy too. Circumstances can change for better or for worse, so it’s important that our financial advice does too, and you have support when you need it most.

What’s included in our ongoing fee?

As part of our ongoing advice fee of 0.5%* (50p for every £100 invested), we offer complete support for every customer throughout their financial journey. From the day you become an OpenMoney customer, we offer ongoing support through adviser appointments, Annual Reviews and Transfer Reviews, which are all included as part of our low annual fee.

So, whether you’re investing £100, £10,000 or £100,000, we can offer the same level of service to keep you on track with your financial goals.

Access to a dedicated Financial Adviser

Got a question about your investments? Or want to chat about your options to a qualified financial adviser? Every one of our customers receives a dedicated financial adviser when they invest with us, giving you access to professional and trustworthy advice on your finances, whenever you need it. You can book as many appointments as you want with your adviser through your OpenMoney portal

Annual Reviews

Every year, on your OpenMoney anniversary (don’t worry, we don’t expect a card) we offer you the opportunity to update the financial details that they originally provided to us. This allows us to identify any potential changes in circumstances - such as a pay rise or a new financial goal - and update your recommendation based on what you tell us.

Annual Reviews are a great way to make sure your investments are always right for you and if you have had a change in circumstance, we can update your investments to reflect that.

We recently updated our Annual Review service so that it’s all automated too! It only takes 5 – 10 minutes to complete, and we’ll automatically update your recommendation based on the new information you provide to us. If you’re unsure of any changes to your recommendation, you can still speak to your dedicated adviser at no extra cost too.

Transfer reviews

Finally, our financial advisers offer free transfer reviews of your current investments all year round. If you have Stocks & Shares ISAs or Pensions with other providers, we can look at your products to see if you’d benefit from transferring to us. Our advisers look at several factors such as ongoing charges, risk profile and past performance to create a bespoke recommendation on whether you should transfer the product to OpenMoney.

Our transfer reviews are honest and transparent, and we’ll only tell you to transfer if it would benefit you. We often tell our customers not to transfer to us! To review your current products, you can take our transfer review journey.

* As of 20/04/2021, OpenMoney’s total charges are 0.50% or less* per year and includes ongoing advice, management of your investments, access to our free money management app and VAT.