What do you think Freetrade's mission is? 🎯


(Alex Sherwood) #1

We’ve recently wrapped up our end of year reviews & one of the things that Adam (Freetrade’s CEO) asked us, as part of our culture survey, was “what is Freetrade trying to do?”, in other words “what is our mission?”.

We’d like to know your answer to this question too.

We’ll share the answer from the Freetrade team early next year. But in the meantime, there’s no right or wrong answers!


(Emma) #2

To make investing accessible and understandable to everyone with great customer service (and top quality socks)


(Georgi) #3

To bring investing to a larger amount of people. Right now people with limited savings and income cannot really invest in the stock market because the fees are going to eat all of their returns.


#4

I would think it’s something along the lines of

“Freetrade making your investment goals accessible”

I use the term goals because there’s a end goal e.g. retirement, house deposit, car, holiday etc. Accessible because there’s no fees, and it doesn’t need to be complicated.


#5

Allowing people to make stock market trades, with no fees attached, from their mobile devices. This is what I’ve been crying out for ever since I learned about Robinhood some years ago. Finally, we have our own investment app here in the UK.


(Emma) #6

@saf briefly touched on it but does nobody else think that education is a huge part of what Freetrade is trying to do?

The blogs and the forum both help newbies figure out what investing is all about without the usual language which excludes new investors. The app is really easy to use without throwing a million toggles for different features at you. If it was just about fees would they bother with all the rest of it?


(Chris) #7

There’s definitely a large element of it and it’s something I’d love to see expanded upon. I’ve learnt a lot from the articles already shared.


#8

“Freetrade build extraordinary wealth management tools to empower ordinary people to build their own wealth.” ?

It should steer clear of the notion of being cheaper imho. That’s already hinted at in the name and it should be an unspoken delight rather than the main selling point.


(Big Boss) #9

Copycatting Robinhood but I believe Freetrade’s mission to me is to “Democratise investing” and if it so chooses to branch out into other parts of finance (e.g. deposits, loans, money market accounts, etc.), then to “Democratise finance” more generally. :rocket:


(Kenny Grant) #10

Investing for everyone


#11

Making diverse stock market portfolios affordably accessible and interesting. Learning along the way too, with bite-sized articles and a brilliant community to help you improve your financial acumen.


#12
  1. Freetrade makes investing affordable for everyone

Inspired by Monzo’s mission to “make money work work for everyone”

  1. Share ownership for everyone

Inspired by Freetrade’s “own it” tagline

  1. Affordable investing for all

Inspired by Freetrade’s fair freemium pricing model

  1. Enable anyone with a smartphone to participate in the stock market

Inspired by the fact that according to the U.K.’s Office of National Statistics, by value, individuals own just 11.9% of shares listed on the London Stock Exchange, and that number is falling.


(Kenny Grant) #13

I do think this could be a good avenue for Freetrade to explore - there is a dearth of good information on investing in stocks for the long term, and most of it is part of a very spammy offering attempting to promote things like funds (motely fool comes to mind), something Freetrade won’t feel obliged to do.


(Rob N) #14

I think Freetrade’s mission is to be the “best investment app”! Which is nice and simple and there isn’t a best app at the moment:

  • You could say Hargreaves as the market leader, but the app’s more of an extension to the website.
  • Or perhaps Nutmeg as the leading Robo-Adviser, but none of the Robo-Advisers have gained that many customers.

In fundamentals like not charging fees and being mobile first yes, but for me they are very different in terms of:

  • Transparency (Robinhood makes money via payment for order flow - a hidden cost to the customer, which isn’t legal in the UK)
  • Focus (long term sustainable investment @ Freetrade vs short term trading, options etc @ Robinhood).

#15

Looking forward to seeing the Freetrade team answer(s). Any updates on this?


(Alex Sherwood) #16

We haven’t forgotten, the post is being lovingly crafted as we speak :writing_hand:


#17

ETA on when this will be published?

Sprung to mind again in light of the convo over here regarding trading vs investing:


(Emma) #18

Still waiting :yum:

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(Alex Sherwood) #19

After the (too long) wait, Adam’s just shared our mission statements.

This is really important to us so I hope everyone here thinks it was worth the build up!


#20

A bit more on the definition of ‘accessibility’:

One of Freetrade’s long-term goals; make investing in the stock market accessible to everyone — above the age of 18, of course.

Accessible in two senses:

  1. Accessible to those with only a small amount of money to invest. For example, before Freetrade existed, if you wanted to buy or sell shares in the UK you had to pay a hefty fee each time, which is off-putting for someone who only wants to invest a small amount of money.

  2. Accessible to those who feel they have low financial literacy or are just starting out. This barrier prevents many people from investing in the stock market for fear of not knowing what they are doing.