The start up firm is the latest in a flurry of new launches aimed at disrupting the wealth management market.
Investors have a new robo advisor to choose from following the soft launch of Moola.
The firm, which is backed by private equity specialist asset manager Octopus, announced back in December that it had received full regulatory approval from the Financial Conduct Authority (FCA) as well that it had arranged a tie-up with Blackrock-owned ETF provider iShares.
The passive only portfolios are risk targeted and cost just 0.75 per cent per year. Now the firm’s automated advice portfolios are – mostly – live. The firm said via email to ‘pre-launch members’ this week:
“This is a very exciting time. As your consumer champion, we remain committed to offering you world-class investments and making the process of investing easy.”
“For instance, many of you wanted to try out the service with a small amount, before committing more. You also wanted the freedom to take out any amount, without charges or penalties.”
Investors can choose between a stocks and shares ISA as well as a general investment account and can set up a portfolio with as little as £200.
Moola is also backed by Run Capital, Odysseus Investments and some private investors.