Munnypot is a low cost, automated investment advice solution. The service is centred around the goal the customer is trying to achieve e.g. saving for a child’s education. It uses a conversational, automated chatbot to provide investment advice to the customer, automatically selecting the fund based on their appetite for risk, and the appropriate product based on their individual circumstances.
The Munnypot service includes auto advice features, one of which selects for the investor whether to invest in an ISA and/or a General Investment Account. If the customer fulfils their annual ISA allowance, Munnypot will automatically begin to invest into a GIA. Once the new tax year arrives, the customer will be informed of the amount they have in their GIA and asked if they wish for it to be paid into a new ISA.
Munnypot monitors the customer’s investment, updating them whenever they reach a milestone and notifying them if their investment requires their attention.