Automated advice: OpenMoney launches online annual review service

0.5% for ongoing advice

Tom Ellis
clock • 1 min read

OpenMoney has updated its online advice proposition by launching a fully-automated annual review service for customers, prompting them to update financial details, investment goals and risk preferences at least once a year.

The firm, founded in 2016, said the annual review process would only take customers a few minutes. Clients are asked to confirm existing details and reminded that life events, like having a baby, buying a house or getting a pay rise can all impact the advice they are given. If the client wants to speak to a real person, OpenMoney said, they can book a telephone appointment with an adviser at no extra cost. The annual review is included in OpenMoney's 0.5% all-in fee, which includes the ongoing advice charge (0.25%) and fund (up to 0.15%) and administration (0.10%) costs. Hybrid advice...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

The five-minute complaint and the five-day investigation

The five-minute complaint and the five-day investigation

GSI Group CEO on complaints, AI and the latest set of FOS reforms

Mark Buck
clock 12 August 2026 • 5 min read
Andrew Goodwin: The advice gap - an embarrassment of riches?

Andrew Goodwin: The advice gap - an embarrassment of riches?

Andrew Goodwin: The advice gap - an embarrassment of riches?

Andrew Goodwin
clock 12 August 2026 • 4 min read
New Talent Alliance launches financial advice careers guide

New Talent Alliance launches financial advice careers guide

Designed to attract new entrants into the profession

Sophia Panayi
clock 11 August 2026 • 2 min read