Robo Advice – Automated Advice offered by Interface Financial Planning
Our Robo Advice facility has been available as a facility to clients since July 2016. When they log in to their Personal Finance Portal account, they all see a tab named: ‘Planning and Advice’ where they can invest in a general investment account or an individual savings account at very low cost. This is an automated advised service where they are guided through their circumstances, their risk profile, and their affordability and they are supplied with a suitability report before they invest any money. Alternatively, they may be told that their proposed investment is unsuitable for them in which case they are not allowed to proceed. A range of risk rated model portfolios is available.
The minimum investment is £250 with a maximum of £50,000. They can start with only £250 and top up at any time. We have used this service ourselves and invested our own money and we can confirm that it is very easy to use, and it is easy to monitor via your PFP account. Currently you can only invest lump sums into GIAs or ISAs while regular payments and SIPPS are being considered for development.
Why does Interface make Robo advice available to our clients?
- Firstly, with several Robo Advice options available from different providers we want to offer a service which is fully integrated with every client’s Personal Finance Portal account
- Our Robo Advice offering provides information to our clients about Robo investing and it demonstrates that we are looking for all opportunities for our clients and that we are open minded about alternatives.
- It has been priced as cheaply as possible in order to provide our clients with real value. The is no initial adviser charge and the ongoing charge is only 0.3% or £3 a year per £1000 invested with additional platform charges of 0.55% or £5.50 a year making the total charge per £1000 only £8.50 ⦁ Robo Advice provides investors who are starting to invest an opportunity to dip their toe in the water at very low cost
- Adult children of our clients often want to start investing but they are not yet ready for a full financial planning service and Robo Advice provides them with the same facilities as ‘mum and dad’ but with no initial cost.
- It provides an opportunity for small investors, children of our clients, younger investors just starting who do not want or need a full financial planning consultation at this stage.
- The integration of Robo Advice with our back-office system allows us to provide Robo advice clients with a range of other services such as cash flow planning with very little administration and low cost. If they used an alternative Robo Advice system and wanted to use our cash flow planning service additional administration would arise which would use time and inevitably add cost.
- If at any time Robo advice clients want to step up to full advice or need advice in other areas, they are already set up and in place for us to help them
Further development of our Personal Finance Portal means that soon clients will have access to their own cash flow management tools where they can see their full financial planning and lifetime cash flow. They can already use the PFP open banking link so that they can see their bank accounts as well as all of their investments in one place.
Financial planning is not about investment advice, it involves life planning and goal setting, and it includes lifetime cash flow planning including considerations of ‘what ifs’. The investment advice comes at the end of the process and not at the beginning. It is financial planning that provides our clients with real value and if clients use Robo advice which is integrated with Intelliflo Office and that in turn is integrated with a cash flow management system our clients can receive full financial planning with much reduced admin time and much more cost effectively.
Sources of Information
What is a Robo Adviser? Investopedia updated March 2021
Things Robo advisers can do and things that they can’t. The Times Money Mentor updated May 2021
Robo Advisors UK – The Ultimate Guide To Robo Investing. Investing Reviews with links to the 13 best UK Robo Advisers updated August 2021
Compare The Best Robo Advisors In The UK. From Koody with links to 16 Robo Advisers with a good chart which you can sort on cost – updated August 2021
Best Automatic Investment Apps – also from Koody a comparison of Apps that you can use to invest from your mobile phone updated April 2021
Comparison of Robo Adviser from Ask Traders updated July 2021
Which is the cheapest robo advisor in the UK? A comparison of 7 Robo Advisers from Pension Craft
Best Robo Advisors UK. A UK 2021 list of Robo Advisers prepared by Buy Shares updated June 2021
What our Clients say
Alan has the ability to listen and care about people
We first met Alan in 1999; we both wished that we
had known him many years before. Alan has several attributes, in addition to his financial skills, the ability to listen and caring about people. From the first day that we met our financial affairs became organised, now to the point where we can say that we never have any financial worries, in fact we seem to be better off financially now more than ever before. All due to Alan's guidance and expertise. We both consider Alan a very good friend, nice to know he would be there if we needed him.
Norman & Peggy Howell, Birmingham
I always receive a fast and efficient response
It has been almost ten years now since David and myself first consulted you for advice and guidance on financial matters, so I feel that it's time that I wrote to thank you for the help and assistance that has always been forthcoming. Shortly after we had moved house in 1992, you advised us to switch from one type of mortgage to another, which turned out to be the most successful financial move we had made in years. Over the years we contacted you for financial advice and guidance when our daughter was heading for University, on taking out life and house assurance policies and general financial overhauls. Your recommendations have always been sound and given in a manner both efficient and friendly, none more so than when I was widowed just over two years ago and needed a considerable amount of help, immediately given upon request and with great sensitivity during what was a very difficult time for me. There is little I can add, except to also thank the rest of your staff, friendly voices at the end of the telephone who take and pass on my enquiries and ensure that I always receive a fast and efficient response. I can recommend, without reservation, Interface Financial Planning Limited.
Maureen Pittaway, Sutton Coldfield
A very special and caring person
Alan - A very special and caring person, who it's been a pleasure to meet - thank you again it's been a privilege and honour, your kindness has been second to none and we know you've helped probably more than you should but I can assure you it was all very much appreciated, more than you know.
Bill & Sue Ralph, Oldbury, West Midlands
Advice that has been invaluable
Alan has been our financial adviser for 5 years. He is professional, well informed and reliable, and his advice has been invaluable to us. He and his staff are courteous and efficient, and we have no hesitation in approaching him for advice on any aspect of our finances, or in recommending him to relatives, friends and colleagues.
Tony & Sue Critchley, Lichfield
Always friendly and considerate
Alan Moran has acted on our behalf for over 10 years. Alan has over this time always listened to our requirements and fed back to us the best options, given our constraints and made very useful alternatives suggestions. He has always been friendly and considerate. I would not now consider making any financial investment or savings decision without first consulting him.
Ian & Joyce Miller, Birmingham
Honest and always takes the time to explain everything thoroughly
Alan has acted as our family Financial Adviser for many years. He is honest, non-pushy and always takes the time to explain everything thoroughly as often as needed. Alan is not only our Financial Adviser but we regard him as our friend. We would have no hesitation in recommending him and his staff to anyone who needs a Financial Adviser they can trust.
Malcolm & Sylvia Smith, Perry Barr, Birmingham
Alan's sound advice has improved my life no end.
I was introduced to Alan Moran in 1999. I was juggling my finances just to keep afloat and was wary of taking outside advice. A close friend of mine recommended Alan as a reliable and honest adviser who would take great care in choosing the right path to get my financial affairs on track. Trusting their judgement, I arranged to meet Alan. I was treated with the utmost care, given time to consider the guidance that Alan provided and never pushed into taking on financial services. Meeting Alan and acting upon his sound advice has improved my life no end. Even on a limited income, prudent planning has enabled me to save for annual holidays and even cope with the occasional unexpected expense as well as keep up to date with all of my bills. I count Alan among my friends and have recommended him to both my sister and my parents. He really is the genuine article and I cannot thank him enough for all he did for me.
Zena Davis, Coventry
Alan's knowledge of financial matters is very comprehensive
Alan was introduced to me by a friend at the time when my finances were a mess and I just didn't know what to do for the best. Calmly, kindly and sympathetically Alan sorted everything out. Since then he and his wonderful team have sorted out my house and car insurances, my son's mortgage and pension plan and, last but not least, guided me through the ramifications of buying a property in Spain. I have recommended him to friends, as his knowledge of financial matters is very comprehensive and sound. Alan is able to offer advice without making the recipient feel a complete idiot and he takes time to explain things thoroughly and in a way that is understandable.
Tricia Adams, Cannock, Staffordshire
Alan's sound advice has improved my life no end.
I have been a client of Alan Moran's for 12 years and during that time he has given me valuable advice on all aspects of finance. He always explains everything thoroughly and has been particularly supportive during periods of crisis in my life. He helped my late husband and I when his business went into liquidation and was even more valuable when my husband died, pointing me in the right direction with my finances and getting me to invest my money sensibly and with the just rewards that I am now experiencing. I regard Alan not only as my Financial Adviser, but also as my friend, and would, and in fact have, recommended Interface Financial Planning Services to anyone needing a Financial Adviser they can trust.
Marian Poolley, Sutton Coldfield
Efficient and reliable in terms of financial decision making
Alan Moran has been our independent financial adviser for a number of years. He has proven to be an efficient and reliable person to guide us in terms of financial decision making with regard to planning and management of current and future economic matters. He is friendly, discreet, careful and always courteous.
Chris & Tony Hampton, Halesowen
Highly professional, friendly and supportive approach
We have been clients of Alan Moran (Interface Financial Planning Ltd) for over five years. In this time, his highly professional, friendly and supportive approach has provided us with a thorough review of all aspects of our finances. We are now in a position where both our short term and long term financial planning is well organised and structured to suit our personal needs. We have recommended Alan and his team to many of our friends and know that they, like us, have been impressed and grateful for the care he has taken to provide such individual service.
Ann & Allan Rowlands, Handsworth Wood, Birmingham
Professional and friendly manner
Just dropping you a line to say thank you for all the help you've provided us throughout the purchase of our house and the investment policies you've recommended us. May we both thank you for the very professional and friendly way, in which you handled our business, and look forward to hearing from you in the future.
John Fletcher & Linda Davis, Bromsgrove
Wouldn't hesitate to recommend
We were recommended to Alan by my brother in law and have been very pleased with his advice and assistance. Since using his services, we have organised our Wills, Pensions and re-jigged our finances, and now would not consider making any financial investment or savings decision without first contacting him! We would have no hesitation in recommending his services to anyone requiring sound independent financial advice.
Richard Salaman & Emma Staples, Surrey
Valuable advice on our mortgage, future planning, savings and pension investments.
Seeking financial advice for the first time, I received details of three local IFAs. However, these cold statistics gave no idea of the actual person to whom I would need to entrust confidential information. Sometime later I came across an article in a local paper by Alan (Moran) in which the writer came over as friendly and trustworthy as well as being a qualified IFA. Having contacted Interface Financial Planning, the result has been a friendly relationship and valuable advice on our mortgage, future planning, savings and pension investments.
Mike & Gloria Nash, Great Barr, Birmingham
I have never had a single financial concern
The best thing financially that I ever did when I contacted Alan. I have never had a single financial concern and he has supported me through difficult times including the death of my dear wife.
Norman Howell, Birmingham
“Don’t put off the planning for your financial future as you are
never aware of what lies around the corner”
We first met Alan in 1999; we both wished that we
It was very important to gain financial advice in such a challenging time after my wife passed away. I needed to ensure that, as a newly single parent, I had got my finances sorted out and had also made provision for my children in case anything happened to me. As neither my wife or myself had made a will, Alan’s advice and guidance through this very difficult period was invaluable, especially dealing with the paperwork associated with this.
Paul from Birmingham
“Alan, was immediately empathetic, encouraging and, above all, practical and straightforward”
I realised that I had been operating both my general and particularly financial affairs reactively for far too long and it was time I behaved like a grown up. So I started to think about how I might achieve some sort of practical stasis. Alan, was immediately empathetic, encouraging a nd, above all, practical and straightforward. I hadn’t consciously taken financial advice before, but came to realise that the various salesmen who had sold me policies and pension upgrades were not motivated in the same way a ‘proper’ financial adviser was (or should be). Consequently, I had taken on commitments that weren’t necessarily in my best interests. Alan is genuinely interested in my circumstances, and owns a readiness to go beyond what I had imagined would be the boundaries of the role.
Steven from Cirencester