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French startup Yomoni aiming to make wealth management available to everyone online


French start-up Yomoni, which successfully completed its first fundraising round of EUR3.5 million in June, is to launch a new online wealth management service offering retail investors attractive new options to diversify and grow their long-term savings.

Yomoni is set to become France’s first fully online wealth management company. The company will offer small retail investors simple yet effective wealth management services through its web platform, Its pioneering approach is designed to let investors earn higher returns than conventional savings or retirement accounts, with fees of only 1.6 per cent and a minimum deposit of EUR1,000. It is currently awaiting final approval from the AMF, the French securities market regulator.
In today’s low interest-rate environment, regulated savings accounts and the French retirement-savings system provide unattractive returns and few options for portfolio diversification. Private banking services offer more choices and better performance, but are reserved for high-net worth individuals. Higher-return investment vehicles, meanwhile, are a turnoff for retail investors due to their complex structures and high or opaque fees.
In contrast, Yomoni’s revolutionary service will offer simplified asset management services to all types of retail investor, with competitive – and fully transparent – fees.
Yomoni will deliver three key benefits:
• Easy-to-use online investment accounts, which can be opened with as little as EUR1,000 and allow  funds to be withdrawn at any time (daily liquidity);
• Competitive, all-inclusive fees of 1.6 per cent per year, including: Yomoni management fee (0.7 per cent), life insurance fee (0.6 per cent) and underlying portfolio costs (exchange-traded fund fees of 0.3 per cent), with no other commissions or hidden fees;
• Investment portfolios tailored to different time horizons and levels of risk tolerance, using clear, tested investment strategies that target attractive returns at a low cost.
The company will offer ten portfolio types, each with a different risk/return profile and specific allocation to exchange-traded funds (ETFs). 

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