‘Follow another portfolio’ feature


#1

It would be amazing if you could set a pool of your money to follow/mimic a portfolio of another user who has agreed (perhaps a ‘tipster’ or perhaps just a friend who you think will do better than you). The moment they make a trade all the money following them would also make the same trade. This has never been possible before because charges and commissions would make it unfeasible.

This could do away with dreaded fund management charges as there are thousands of people who are at least as good as professional fund managers who would delight at the prospect of helping others for free.

You could have a searchable list of ‘open’ portfolios so users can decide whose they want to follow based on their average returns, user trust rating, type of companies the portfolio is holding and has traded in the past, length of time the portfolio has been going etc.

Just my 2p’s worth


Feature Requests (Open Wiki) :bulb:
(Vladislav Kozub) #2

Sounds like eToro/TipRanks.

It seems like the Team is not quite for this. As if your friend fails, you may fall apart (and blame Freetrade for it potentially). The other issue could be if you don’t have as significant funds as your friend. Or if you want to keep at least one of the securities because you really like it, but your friend sells it. Or what if your friend has a life-changing event and will liquidate the entire portfolio?

It would be better to improve the core features than jumping into something that can be potentially reputation-damaging.


#3

This is just for a pool of your money. I wanted to avoid calling it a pot but basically a pot of your money to follow another portfolio.

So if my Freetrade account has £1000 in it I could have £900 put in whatever companies I choose and then £100 following Vlad’s portfolio. The trades would not be matched by value but by percentage. So if your portfolio was £1,000,000 and you just sold £100,000 of Microsoft then my following pot would only sell £10 of Microsoft.


#4

Maybe the halfway house would be showing you that your friend has 10% in X, 8% in Y, and just now sold all of his Z, and so on (an idea that has been suggested elsewhere, and is how Openfolio does (or did?) it).

You’d need to make a manual effort to replicate your friend’s portfolio in your pot of 100, and this effort would force your decision to be considered: does it align with your goals? Why’s your friend sold everything? Etc.


(Vladislav Kozub) #5

This would be more feasible.

  1. For instance, you know your friend’s User ID (e.g. Adam is #1)
  2. You follow that user’s portfolio
  3. He gets a notification that “this guy wants to follow your portfolio. Do you agree? Yes/No”
  4. Then you can see that persons asset allocation based on the % (not £) and have a feed of their subsequent transactions.
  5. If you wish, you may replicate those manually.

Sounds not too bad on paper but I just cannot imagine it being anywhere on the roadmap given more core things that must be implemented (ISA, US, SIPPs, Android, Crypto, Integration with other fintech providers, API, EU expansion). And the share of users requiring such feature would be next to negligent compared to other global things listed above, so you may not expect those shortly (i.e. for years in the worst case scenario) anyway.

Maybe @Viktor, if not too busy, could rap up how far on the roadmap this could be settled.