we are considering this space and might enter it very soon.
I was wondering if you guys had any experience with MoneyBox, Plum, Tickr or any of the robo advisors out there?
We are thinking it would be great to offer long term investing as part of our subscription with very little or none platform management fees.
I’ve used Tickr but don’t think their performance was amazing. Nutmeg’s robo-investor is good. Fees are not always the biggest turn off if the performance is decent.
Yes, cause Nutmeg has a platform fee of 0.70% if I am not wrong. I think we can offer 0.10%.
If you enter into this space I’d suggest offering low cost multi-asset funds like vanguard lifestrategy and blackrock consensus. They do something very similar to the so-called robo-advisors (packaged multi-asset portfolios based on index funds) but at significantly lower cost.
We are looking at a very cheap platform fee 0.10% and very cheap funds.
We are not interested in making money on the deposits, so we can put this into Emma Pro or another plan.
Have you guys considered entering the crypto space at all? I think it’s been quite na good money maker for Revolut.
But BlockFi’s model might be interesting for you guys to look at. They offer a few services, that are quite circular in their nature.
The primary one is earning interest on certain Crypto, with up to 6% interest on BTC. It looks like they can manage these high interest rates by also offering crypto loans (They also offer trading, but this might be way out of scope). Another service they offer is cash loans by putting up their crypto as collateral (This allows users to get cash if they need it now without having to liquidate their assets).
Another really interesting concept is the recently launched https://alchemix.fi which provides instant loans that repay themselves (They do this by allowing users to deposit DAI, which is a stable coin pegged to the dollar. Due to the high demand for liquidity of stable coins they offer really high interest, on the DYDX exchange the APY was around 20-30% last week.
The DeFi space is getting very, very interesting so there could potentially be a lot of opportunities for you guys. If you want a bit more detail DM and we can have a chat.
But really like Emma so hope you guys are around for the long term (Saying that my dashboard hasn’t been updating for a few days now. Hope that gets fixed soon )
Was going through the thread and there seems to be a number of crypto related threads, so there definitely seems to be some demand from the Emma user base
As of today, we connect and display data, but would love to enable you to trade.
Yes, I would be totally up for this. Personally, I don’t mind paying a slightly higher fee if the historical performance is solid, but I think 0.10% would definitely draw in the punters. The more options we have, the better!
Yes, we are looking at this in particular.
Appreciate the desire to get into direct investing but a lot of us are already in Vanguard, Freetrade, T212 etc and aren’t likely to swap out for an Emma centric product v easily. Building some compatibility for a live link to these platforms would be orders of magnitude more useful to me than direct access in my view!
This is actually coming out in May.
You will be able to buy and sell US stocks directly from Emma.
Does anyone have particular interesting features in mind?
You can have a look at the Lightyear.
I find their app the best in the UK.
Apart from being free up to £3000 they make the investment real easy.
Yeah, I have been using it for a while, but not really a fan of 3 currencies.
If you are on the last app update, you should see a new tab.
So, I have the new Invest tab and am on the waitlist. Teasing us with little info! Any more details yet??
Commission-free stock trading
When do you plan to launch it?
We should be able to start onboarding users by the end of the month.
We have about 1,500+ fractional stocks (all US based).