Digital advisory firm OpenMoney has increased its advice fee for the first time since its launch in 2017.
The firm announced that its annual total fees, based on its lowest risk portfolio (including the portfolio's fund cost, advice fee and product fee), will increase from 0.51% to 0.76%, or 76p for every £100 invested. The increase will take effect from 1 September 2022, applying to any existing or new investments, it said. The firm added that the following would be offered as part of its service with no additional cost: access to financial advice appointments with a qualified financial adviser, tailored investment recommendations based on individual circumstances, annual reviews service...
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