I have been with OpenMoney for a few years with little issues, until I decided initiate a transfer out of my OpenMoney ISA into another company (standard process normally taking 30 days). 3 mont... See more
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See what reviewers are saying
We were due to remortgage and contacted OpenMoney to help. We were put in touch with Karina who was just brilliant, she was always available and very helpful in her explanations. It was incredibly str... See more
I needed a lot of guidance over a period of a few months as I was fairly overwhelmed and didn't know where to start. Ryan Browns helped me along all the way. He was exceptional at explaining everythin... See more
So far so good. I had a slight problem understanding how to set up the account so I took advantage of the call back option. They explained the mechanics and Also explained pension taxation to me in mo... See more
Company replied
Company details
About OpenMoney
Information provided by various external sources
OpenMoney are here to make financial advice accessible and affordable to everyone.
They offer personalised financial advice through their online platform and offer tools in their app to help people follow that advice and get out of their financial cycle.
Within the app, users can connect all their accounts to the OpenMoney app to see all their money in one place. Once connected, OpenMoney will then start advising you on how to manage your money properly. Sounds great right!
They also offer a personalised recommendation on whether you should manage, save or invest your money, and help you every step of the way.
Based on your goals and financial situation OpenMoney lets you invest from as little as £1 - cheaper than your morning coffee! As well as creating your own diversified portfolio in which they invest in assets from all over the world including shares and bonds in companies and governments worldwide.
Finally, Financial Advice for all.
Contact info
1 St Peter's Square, M2 3DE, Manchester, United Kingdom
- 0161 204 3200
- hello@openmoney.co.uk
- open-money.co.uk
3.7
Average
183 reviews
No recent history of asking for reviews
This company hasn't invited customers recently, so reviews may not be representative
How this company uses Trustpilot
See how their reviews and ratings are sourced, scored, and moderated.
Very Positive Experience
I had a very positive experience with OpenMoney. I spoke to Ryan Brown who gave me financial advice about my mortgage. As a first time buyer I was quite apprehensive about the whole process but Ryan immediately put me at ease with his tone and made everything perfectly understandable and easy to follow. I'd definitely recommend Ryan and OpenMoney. Richard
28 September 2022
Unprompted review
Reply from OpenMoney
Hi Richard
Thank you for taking the time to leave a great review! We'll be sure to pass this on to Ryan.
OpenMoney Team
The Best !!!!!
I began my journey on pursuing my first home with zero idea. I came across Open Money and Karina is an Angel ♥️. Karina helped us get a mortgage and advised us on everything. As a first time buyer, I was constantly worried but Karina always assured me with her full confidence and positive vibes. And to whoever in doubt at all regarding mortgages : Open money is your place 😃.( also my whole heart and love to Karina )
30 August 2022
Unprompted review
Reply from OpenMoney
Hi Ashley
Thank you so much for the glowing review. We love Karina, too!
We'll be sure to pass on your feedback to Karina and the team.
Thanks again & congrats on your new home!
OpenMoney
The Best
Karina was extremely helpful and made the process of buying the first home enjoyable
Thank you :)
11 August 2022
Unprompted review
Reply from OpenMoney
Hi Elena
Thank you so much for the glowing review & congratulations on your new home.
Thanks again,
OpenMoney
Would definitely recommend
Karina was amazing and incredibly helpful every step of the way
9 August 2022
Unprompted review
Reply from OpenMoney
Thank you so much for taking the time to leave us a review - we'll be sure to pass on your wonderful feedback on to Karina!
Thanks again,
The OpenMoney Team
Amazing company!
They are such an amazing company that has helped me no end with learning about the process of buying the house. They were always there to answer questions and really helped to get the best deal possible
15 July 2022
Unprompted review
Reply from OpenMoney
Hi Melissa,
Thank you so much for your lovely review! We'll be sure to pass your feedback onto our mortgages team.
Thanks again,
OpenMoney
I've given your ISA a full year to show…
I've given your ISA a full year to show that you know how to handle the money.
The current rate of return is around -5% so with the current real inflation in the region of between 10-15% you cost between 15-20% of everyone's capital.
Well done you!
I know that markets are a difficult game but at the same time Vanguard has returned 25% of my investment in ISA. That is around -30% difference across the board between two investment companies in favour of the latter of the two.
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"Thanks for leaving us review and we are sorry to hear that you are not satisfied with the investment returns you have received to date. Over the last 3 months markets have fallen significantly due to the situation between Russia and the Ukraine and also a downward revaluation of US tech firms. This has meant that year to date, our Portfolio 1 has returned -3.89% compared to 4.10% in 2021 and 5.09% in 2020."
Ever since I have opened an account with you the S&P 500 rose at worse 10% and at best 20%.
What sort of a financial advice would you like to give me if it's clear as the sky that you cannot handle investments as a company. Even taking the conflict into the account the major exchanges have gained at least 10% in the mentioned period.
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"Returns are usually directly correlated with risk level and we would be interested to hear which Vanguard funds you are invested in to return 25% over the same period?"
LifeStrategy® 100% Equity Fund - Accumulation
Personal rate of return
24.29%
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"If you would like more specific information on your account please book an appointment with one of our financial advisers at no cost and they can provide you with more context".
You really think that I'd need financial advice from a company that is beating the actual inflation by around -12% to -17%?
I am all ears. please teach me.....
31 March 2022
Unprompted review
Reply from OpenMoney
Hi Slawomir,
Thanks for leaving us review and we are sorry to hear that you are not satisfied with the investment returns you have received to date.
Thank you also for providing us with further information. We would like to talk to you about your investment options, and in particular about the risk profiles of our different portfolios.
As Trust Pilot is a public forum and we take your privacy seriously, we can only give a generic performance comparison here. We’ve run some past performance comparisons of Vanguard Lifestrategy 100% equity, the S&P 500 index and our OpenMoney portfolios over the period of April 2021 to April 2022 as an example but if you would like specific results based on your investment dates, please get in touch.
• (High risk portfolio) Vanguard Lifestrategy 100% Equity: 11.54%
• (High risk portfolio) S&P 500 Index: 17.41%
• (Low risk portfolio) OpenMoney Portfolio 1: 1.52%
• (Medium risk portfolio) OpenMoney Portfolio 2: 8.63%
• (High risk portfolio) OpenMoney Portfolio 3: 13.00%
The level of risk taken with each portfolio greatly influences the possible returns, and the possible losses. Vanguard Lifestrategy 100% equity and S&P 500 index are both high risk portfolios, and we are completely transparent in that they would generally outperform our low risk portfolios over the long term.
We advise which portfolio our customers should invest in based on what they tell us about their appetite to risk, and how they would feel about the value of their investments potentially falling.
If you want to discuss the risk profile of your OpenMoney investment with one of our Financial Advisers, please book an appointment through your online portal.
Thank you,
The OpenMoney team
Great company highly recommended if you…
Great company highly recommended if you are looking to invest
30 March 2022
Unprompted review
Reply from OpenMoney
Hi James,
Thanks so much for your great review! We're really pleased you're happy with our service.
OpenMoney
Investment information
Concise easy to understand information.
Answered all questions
I felt confident at end of call re investment
25 February 2022
Reply from OpenMoney
Thank you for taking the time to leave a review! We're really pleased you enjoyed using our service.
Started pension transfer 1st of October…
Started pension transfer 1st of October 16th February still not completed. Transfer pension from Aviva 14 days from start to finish to see my cash in my vanguard account. Lesson learnt never use a small company like this for anything.
15 February 2022
Unprompted review
Reply from OpenMoney
Hi Richard
We’re really sorry that you are unhappy with the speed of your pension transfer from us to another provider.
We were first notified by your chosen provider that you wanted to move your pension to them on the 29th November 2021, which was 7 weeks after you had first instructed them to start the process. We sent out the forms to be completed by yourself and your new provider on the 17th December, and whilst we received your part of the form very quickly, we only received your new providers completed form on the 7th February, 7 weeks later. Unfortunately, there has been several weeks where we cannot progress your transfer as we have been waiting for your new provider, however we do understand your frustration that the process has been slow and we’re sorry we could not get this done more quickly for you. Please know that we are progressing your transfer as quick as we can. It may be worth discussing any agreed timeframes with your new provider to find out why there has been several weeks of delays.
We’re here if you would like to discuss this in more detail, please message us on hello@open-money.co.uk.
Thanks,
The OpenMoney Team
Very helpful and informative
Very helpful and informative, goo advice and information.. Thank you.
12 February 2022
Reply from OpenMoney
Hi Peter,
Thanks for the 5 star review! We really appreciate it and are really pleased you're happy with our service.
Thanks,
The OpenMoney team
Great service from Ryan and the OpenMoney team!
I recently used Home by OpenMoney to help me with my mortgage. The entire process was quick and easy, despite me being nervous about where on Earth to start to begin with!
My mortgage advisor, Ryan, was incredibly friendly and knowledgeable, whilst always making sure that I understood every step of the process, using layman's terms throughout.
I really would recommend this service to anyone looking to buy their first home.
11 February 2022
Unprompted review
Reply from OpenMoney
Hi Leah,
Thanks for taking the time to leave us a 5* review. We're really pleased to hear you have such positive things to say about one of our mortgage advisers, Ryan - we love him, too!
Congratulations on your new home!
The OpenMoney Team
Great mortgage advice.
Ryan made the whole process of buying a house from start to finish effortless. I could have set my watch by the time he would call which was always agreed before hand. Very helpful in finding the mortgage that best suited me and which insurances to go for based on my needs. The Open-Money portal is a great tool to store and share all the required documents.
I would 100% recommend this service. Your mortgage provider pays for the service and leaves you without the stress.
3 February 2022
Unprompted review
Reply from OpenMoney
Thank you so much for taking the time to leave us a 5* review. We're really pleased to hear you've had a great experience using our mortgage service. We'll make sure to pass your feedback onto Ryan.
Congratulations on your new home!
The OpenMoney Team
Great service
21 November 2021
Very Good Services
4 October 2021
Unprompted review
Amazing for beginners
After extensive research on all the different investment platforms, I found OpenMoney to be far superior. I thought everything was really well explained to you, which for me was great as I had no experience in investing, and I’ve found the whole process super easy. I think it’s great that they assess your affordability so they can tailor recommendations to your individual circumstances and I seriously couldn’t fault any of the process.
8 July 2021
Unprompted review
Reply from OpenMoney
Hi Lauren,
Thanks for leaving a review of our service.
We're really pleased to hear that you enjoyed your experience with us. We hope to continue providing you with great service in the future and we look forward to hearing from you again.
Thanks once again,
The OpenMoney Team
Excellent advice and very thorough!
15 May 2021
Reply from OpenMoney
Hi Jane, thanks for leaving us a positive review!
We're always happy to hear that our customers are enjoying our service and finding the advice given to them valuable. We hope to see you continue using our service in the future also.
Thanks,
The OpenMoney team
Far too much trouble.
Far too much trouble to open an account, they want to know your life story. I gave up, I gave so much info and they wanted even more. A thief's paradise here.
23 April 2021
Reply from OpenMoney
Hi Paul, thanks for leaving your review!
We apologise sincerely for any issues you may have faced whilst opening an account with us. After speaking to our support team, I'm aware that we have been asking for extra identification to pass you through our Anti-money Laundering (AML) checks. We appoint TransUnion to undertake credit and our identity verification checks on all of our customers and sometimes, further identity verification is required to pass those checks. Without those checks being verified, we unfortunately can't open an account. We are sorry if you found these checks to be excessive. We do hope you can consider using OpenMoney again in the future.
Have a great day.
The OpenMoney Team
easy to deal with
All the team I spoke with were very helpful and understood my inquiry. The problems was quickly and easily resolved
12 April 2021
Reply from OpenMoney
Hi Stephen, thank you for taking the time to leave us an excellent rating, we really appreciate it.
We’re glad to hear that our friendly support team were able to assist and help you resolve your problem. If you need any more help, you know where to find us.
Thanks,
The OpenMoney team
Very helpful staff
Very helpful staff, with quick responses to my queries and clear instructions on steps to take. Only reason for 4 stars instead of 5 is that I found navigating the website/portal wasn't intuitive in some instances. Still a good setup and I'm impressed and satisfied with my experience so far.
25 March 2021
Reply from OpenMoney
Hi there, thanks for leaving us a positive review on our service!
We're glad to hear that you've enjoyed your experience with us so far and that our support team were able to help you out. We really appreciate the feedback you have left and it'd be great to find out more so that we could look to improve the user journey. If you'd like to share more of your feedback, you can get in touch with us via live webchat or by emailing hello@open-money.co.uk
Thanks,
The OpenMoney team
Web site was clear and simple
Web site was clear and simple, the advisor was professional and helpful, good service. Obviously only time will tell how good the product is.
23 March 2021
Reply from OpenMoney
Hi Owen, thanks for the 5 star review!
We appreciate you leaving us a review on how you've found our service so far. We hope that we can continue to provide you with excellent service and we're always here for you if you ever need us.
Thanks,
The OpenMoney team
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