Gumtree co-founder Simon Crookall has launched a new UK digital financial service – InvestEngine – which offers globally diversified investment portfolios for people with as little as £ 2,000 to invest.
InvestEngine is a web-based platform (with an app launching in the coming weeks) that has a management fee of 0.45% per annum, making it one of the lowest fixed rates available. There are no transaction fees, set-up, custody or exit fees, and InvestEngine rebalances portfolios as part of the service.
Unlike many other players, InvestEngine uses a “buy and hold” approach, which means less room for human error.
InvestEngine combines its smart technology with over 70 years of financial experience through its close and unique relationship with Ramsey Crookall, an independent investment management firm that acts as InvestEngine’s broker. This direct relationship allows the smart investment department to keep costs competitive and to trade more efficiently.
According to Simon – who co-founded InvestEngine with his sister Joanna Crookall, CEO of Ramsey Crookall – fairness and accessibility are at the heart of the business.
Simon said, “After I sold my tech companies I went back to financial services and immediately saw that there was a real opportunity for a quality solution for people with smaller sums. Ordinary people simply weren’t able to access the same level of money management as those with larger sums.
“InvestEngine offers people a regulated, inexpensive and easy solution to take control of their own investment in high quality market trackers where all the hard work is done for them. We deal with carefully selected exchange-traded funds (ETFs), combined with a proven methodology and market-tracking technology to offer diversified investment portfolios across countries and markets – essentially, people don’t. not all of their eggs in one basket.
“InvestEngine’s vision is to become the ultimate destination for investors and savers. Over time, our offering will diversify and expand to include a range of services from pensions and ISAs to investment advice and ethical investment options with green portfolios.