What's in this guide?
What is tickr?
tickr is an investment app that allows you to invest in companies that are aiming to solve social and environmental issues across the world. And yes, it has got a lower case “T”…
Alongside the aim to make investing more ethical, tickr makes the process easy and simple to understand.
Co-founders Matt Latham and Tom McGillycuddy both previously worked in the investment management industry, where they quickly became jaded by what they saw as the finance sector’s lack of thought into its societal impact. Seeing no alternative in the market, they started tickr to meet the growing demand for socially conscious investors.
How does tickr work?
In line with the socially conscious investment model that drives tickr, users can invest in companies that fit into one of the following “themes”:
- Climate change
- Disruptive technology
Users can choose to invest in a specific theme of their choosing, or invest across a combination of all three. The themes are broken down further into subcategories. For example, disruptive technology has three sub-categories: automation and robots, digitalisation and cybersecurity.
What products does tickr offer?
Right now, tickr offers tax-free individual savings accounts (ISAs) and taxable general investment accounts (GIAs).
tickr stocks and shares ISA
This ISA allows you to invest in shares, funds and bonds. You have a tax-free allowance of £20,000 in the 2019/2020 tax year to invest in ISAs.
tickr general investment account
The general investment account also allows you to invest in shares, funds and bonds, but your profit is taxable. Most people opt for a general investment account once they have used up their ISA allowance for the year.
How much does tickr cost?
tickr wants to be accessible to as many people as possible, regardless of wealth and financial background. It does not come with a high minimum investment like other finance apps, with a minimum investment of just £5.
|Annual charge||£1 per month for all balances up to £3,000 and £1 per month + 0.3% on the portion above £3,000|
|Fund costs||Approximately 0.30%|
|Bid offer spread||0.14-0.20%|
|Opening and closing account||Free|
|Depositing and withdrawing money||Free|
tickr’s portfolios (which tickr calls “themes”) are split into three risk levels. These are cautious, balanced and adventurous. You choose the risk level that’s suited to you and your risk appetite.
Is tickr safe?
The tickr app is regulated by the Financial Conduct Authority (FCA) as a representative of Met Facilities LLP. Users’ money is held in a custody account managed by tickr’s custodian Third Platform Services, which is also regulated by the FCA. Along with this, your money is protected up to the value of £85,000 by the Financial Compensation Scheme (FSCS), so, in the event that tickr goes bust, you can claim compensation.
As well as protecting your finances, tickr uses a 256-bit TLS encryption to protect your personal information. Customer information is never shared with third parties without user consent.
The company’s growth
Initially, tickr was self-funded, but as it got closer to launching, it secured £860,000 in seed funding from key figures in the investment management industry.
To date, tickr has raised a total of £2.5 million in external funding, including more than £1 million in funding from a Seedrs crowdfunding campaign. Some of the company’s backers include:
- Legal and General
- Lyxor Asset Management
- iShares by BlackRock
As it gets further established and its users grow, tickr is on track to exceed over £1 million in revenue this year.
Who is tickr for?
tickr was launched with a limited rollout for the co-founders’ family and friends. Over the past year, however, tickr has amassed thousands of users, who invest an average of £120 per month. Some other interesting statistics about the investing app include:
- Over 40% of tickr users are female
- The average age of the app’s users is 31
- 50% of users have never invested before using tickr
What are the pros and cons of tickr?
- Focus on ethical investing
- Low cost
- tickr is mobile access only
- It has limited ETFs and market access
For those looking to invest in a more ethical manner, tickr provides an opportunity to invest in companies that are trying to make a difference in the world. tickr is still pretty new and currently only has a couple of products on offer, but it’s worth checking out and keeping track of.
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