We offer a managed investment platform that’s suitable for those seeking advice on whether investing is right for them and if so, which product (S&S ISA, Pension and/or GIA) and portfolio suits their saving goals and risk profile.
We offer restricted regulated advice, meaning we need to ensure that our recommendation is suitable for our customer’s financial and personal circumstances. We ask our customers to provide some financial details, information on their saving goals and to answer a few risk questions to produce a suitable recommendation. We may even advise that investing isn’t suitable given your circumstances.
Our customers will always have the opportunity to book a free appointment to discuss their recommendation with a qualified financial adviser who can provide tailored advice for those with more specific or complex needs.
A range of investment wrappers including a Stocks & Shares Individual Savings Account (S&S ISA), a Pension (restricted Self-Invested Personal Pension) and a General Investment Account (GIA). Although we offer all these products, our recommended product will depend on your saving goals and personal circumstances.
Our OpenMoney brand also offer other services such as WorkLife, evestor and soon to be launched, Home by OpenMoney – our new mortgage proposition.
To open an account with OpenMoney, you must be at least 18 years old, and a UK resident. Please note that we’re unable to allow US persons to invest with us due to the comprehensive tax reporting requirements imposed.
Financial services professionals have developed our financial advice journey. Our automated system uses algorithms to provide you with a recommendation based on the information you provide us. You are able to discuss any investment related recommendation in a meeting with one of our qualified financial advisers at no additional cost. Please note that we provide restricted financial advice only.
As we offer regulated advice, we need to ensure that all recommendations are suitable based on the information gathered. If you have further details to provide that we have not considered, or if you were looking to adjust your recommendation, please book a free meeting with one of our qualified financial advisers who’ll be able to discuss and adjust your recommendation.
Not all our customers are provided with an investment recommendation. Our advice system assesses whether investing is suitable by looking at an individual’s risk tolerance, their investment timeframe and whether they’re in a financial position to invest. We don’t recommend investing to those who don’t have cash savings equivalent to three months’ worth of outgoings and to those who pay 15% of their income towards short term debt.
If you’re provided with an investment recommendation we’ll recommend one portfolio per product. Check out our investments section above for more details on our investment portfolios.
Our customers can begin investing with us from as little as £1 and we don’t require a minimum ongoing deposit.
Our customers are not fixed to our service. You’re able to request a withdrawal or account closure at any time.