Got this email today earlier, and wanted to get views if they are a real threat to Freetrade?
They seem to be targeting people who want to hold their day to day cash as stocks? With only one option for now.
What are your thoughts?
Try Assets — switch your money from cash to a stake in the world’s largest companies like Apple, Tesla, and Microsoft.
Banks invest the money you hold with them to make money for themselves. They use it to fund mortgages, business loans and credit cards for other customers — you’re effectively supporting their business for free, and we don’t think that’s fair.
So we built Assets to let you choose how to hold your money.
You can now switch the money in your Wise account from cash to stocks, which means it will be invested in the world’s 1500 largest companies according to the [MSCI World Index]
That means you’ll have a stake in the world’s biggest companies — like Apple, Tesla, and Microsoft.
How to get started with Assets
- If you’re using our app, update to the
- Tap the link below
- Follow the on-screen instructions
As with any asset you hold, your capital’s at risk. The value of your investment can go up and down, so the amount you may get back could be less than what you put in.
What you need to know
- When you move your money into stocks you’re investing it in a [fund] that tracks the [MSCI World Index]
- The fund has had an average annual growth rate of 13.07% since 2012. This growth is measured in Euros.
- During the beta trial, you’ll only pay a fund fee of 0.15% annually. After beta, you’ll also pay a service fee of 0.55% annually.
- You can access the money you hold in stocks at any time to spend on your debit card and make payments.
- You can switch all the money you hold in stocks back to cash at any time.
- Because you’ll be joining a beta trial of Assets — [we’d love your feedback] to make it better.