Former quantum physicist Gemma Godfrey wants to help everyone save money.
When Gemma Godfrey (pictured) started her robo-advice firm at the end of 2016, it was in answer to the question that plagues many financial experts during family meetings and outings. What should people do with their money?
But for Godfrey, who was previously the head of investment strategy at Brooks Macdonald, that question was asked more frequently as a money and consumer expert on various TV shows.
She realised there was a savings problem in the UK and wanted to take the jargon out of finances, she told The Guardian in an interview earlier this year.
Godfrey founded the digital wealth management firm Moola in 2016. Since then, the platform has received backing from many prominent City business leaders, including Lansdowne Partners’ chairman Stuart Roden and retired hedge fund manager Marc Rubinstein.
Godfrey has also recruited a former chief investment officer of BlackRock’s own robo-advice platform, FutureAdvisor. Simon Moore, who left BlackRock in February of 2017, holds the same position at Moola.
Entrepreneurship and business isn’t all that Godfrey is known for either. With a degree in quantum physics, she has appeared on BBC, Sky News and was recently on the panel of Arnold Schwarzenegger in the US version of Celebrity Apprentice.
Her firm recently slashed its minimum investment amount from £200 to £50. The service is powered by BlackRock and clients get access to the financial services giant’s research and range of exchange traded funds through its iShares arm.
The goal of the platform is to make investing simple for all investors, regardless of income. Users will have one of several different portfolios depending on their risk tolerance. The portfolios are composed of a variety of ETFs from BlackRock.
Moola has also partnered with fintech firm eValue, which runs the financial planning capabilities and with market maker Winterflood. The platform charges an annual fee of 0.75 per cent.
In addition to its retail investments, the firm also has a white label offering for Independent Financial Advisers looking to use automation in their business.