By Oliver Smith on Wednesday 1 December 2021
The digital wealth platform reduces its fee by 0.01% each year that customers remain invested.
It’s been a while since we’ve seen a novel new digital wealth platform, but that’s exactly what Tillit is launching with its service that rewards investors the longer they remain customers.
Rather than charging based on total assets, Tillit operates a single platform fee of 0.4 per cent, which drops by 0.01 per cent every year until it reaches 0.25 per cent, regardless of how large a customer’s portfolio is.
For those portfolios, Tillit offers 95 open-ended funds, investment trusts and ETFs on its platform, with custody, trading and settlement powered by wealth tech provider Seccl.
“Tillit is all about leveraging deep expertise from asset management and building an outstanding platform that fundamentally helps people make better and more informed long-term investment decisions,” said Felicia Hjertman, CEO and founder of Tillit and a former fund manager at Baillie Gifford for nearly a decade.
Hjertman has operated Tillit in private beta for the past six months before now opening it up to the public, and while there are no trading, transfer or exit fees, individual fund fees still apply.
“It has been an incredibly energising experience to partner with a team who are steadfast in its commitment to building an investment platform that offers investors clarity in what they own and how much they are paying for it,” said Seccl’s head of customer Daniel Marsh.