Moneyfarm is a discretionary investment service. This means that although you build your own risk profile, Moneyfarm’s investment managers will pick the individual ETFs.
Despite being a Robo-Advisor, Moneyfarm have a robust customer service to deal with any questions you may have.
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Moneyfarm charges come in two parts as most Robo-Advisors do. The first is the management fee charged by Moneyfarm and the second is the underlying charge of the ETF.
The ETFs Moneyfarm invest in have an average annual charge as low as 0.25%.
Moneyfarm charges a management fee which ranges from free to 0.6%.
Up to £10,000 is free
£10,001-£100,000 is 0.6%
£100,001-£1,000,000 is 0.4%
£1,000,000 + is free
Taking into consideration Moneyfarm’s annual charge and ETF fees, the maximum an investor can expect to pay is around 0.85%.