Monzo, the leading digital bank in the UK has launched “Monzo Investments.”
This product aims to simplify, make investing affordable, and provide direct access through the Monzo app, responding to the 70% of the UK population that lacks clarity on accessible investment options, as revealed by recent YouGov research.
Investment Pots: The Monzo Way
Personalisation for Every Investor
Monzo Investments offers customers the flexibility to tailor their investment approach with three distinct risk profiles: Careful, Balanced, and Adventurous. This allows individuals to align their investments with their financial goals and risk tolerance.
Management with BlackRock
Monzo has partnered with BlackRock, the world’s largest asset manager, to provide customers with professionally managed funds. BlackRock’s trusted expertise ensures that customers’ investments are in capable hands, instilling confidence in their financial decisions.
Affordability and Accessibility
Breaking down the financial barriers to investing, Monzo Investments permits customers to start with as little as £1. This low minimum investment empowers even those with modest budgets to begin their investment journey.
Clarity and Guidance
The Monzo Investments experience is designed with simplicity in mind. Throughout the entire process, users receive clear and jargon-free guidance, eliminating the confusion that often deters individuals from investing.
Flexibility at Your Fingertips
Monzo Investments gives customers the power to adjust, cancel, or withdraw their investments at any time, providing a level of control that traditional investment platforms often lack.
Seamless Integration
Monzo Investments seamlessly integrates with the Monzo app, making investing as familiar as checking your balance. This integration ensures that your investment pot is always within reach alongside the rest of your financial information.
Transparent Fee Structure
Customers benefit from a transparent fee structure, with a total fee of 0.59% of their investment value. This includes a 0.14% fund fee and a 0.45% platform fee. For example, with a £1000 investment through Monzo, you would pay just 48p per month in fees.
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Monzo Investments: Your All-in-One Financial Hub
Monzo Investments represents a significant stride towards Monzo’s vision of becoming the ultimate financial management app. According to Monzo’s research, 57% of people feel more in control when they can monitor spending, saving, and investing in one place – a feat now achievable with Monzo. The product is scheduled for a phased rollout to eligible customers in the coming weeks.
YouGov Research Findings
Commissioned by Monzo, recent YouGov research uncovered valuable insights into the UK’s investing landscape:
- Lack of Clarity: Nearly 70% of the UK population struggles to find accessible and straightforward investment products.
- Minimum Investment Barrier: 60% of all adults cite the lack of funds as the primary reason for not investing, emphasising the need for low minimum investment options.
- Rising Living Costs: Approximately a quarter (24%) of respondents reported that increasing living expenses have motivated them to invest for long-term financial security.
- Casual Investors: Shockingly, 2.5 million Brits who currently invest admit to ‘winging it,’ highlighting the need for accessible and informative investment solutions.
Monzo CEO, TS Anil, said:
“I’m so excited to get this product into the hands of customers, at a time we know they want to invest in longer-term financial goals but don’t know where to turn or how to get started. With Monzo, they now have investment expertise at their fingertips, can invest as little as £1 and track progress alongside their saving, spending and borrowing in the Monzo app. This is an important next step on our mission to make money work for everyone as we put the Monzo stamp on another corner of finance that is perceived as complex and inaccessible. Millions of people in the UK feel investing isn’t for them – it is now.”
Sarah Melvin, Head of UK, BlackRock said:
“BlackRock is thrilled to have been selected by Monzo to support their customers as they become investors, helping more and more people experience financial wellbeing. We know that for many, taking the first steps into investing can be daunting and it’s often difficult to know where to begin. That’s why I’m so proud and excited to bring our global investment expertise to millions of people in the UK through Monzo’s app, giving them the ability to invest in a simple, affordable and accessible way.”
