There is a new robo-advisor in town! After waiting patiently while they rolled out their ‘Insure’ and ‘Wills’ components, the ‘Invest’ aspect finally launched today.
Image Credit : MoneyOwl WebsiteMoneyOwl has a good website with plenty of information so give it a read to see how it compares with the existing competition such as AutoWealth, StashAway and Smartly. The main selling point to me, is the use of Dimensional funds. If this is new to you, Kyith from Investment Moats wrote a comprehensive article on Dimensional funds.
In my opinion, it is a close match to what AutoWealth is doing but using different tools – ETFs vs Dimensional funds. They pitch themselves as bionic (human + tech) and this is not unlike what AutoWealth does. With similar risk profiles, MoneyOwl’s offering does seem like it is easier to understand by using only three funds.
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