We have tried to cover any possible questions you have about uprosper® or financial advice and planning generally. If you cannot find the answer to your question here, please get in touch with us and we will be happy to help.
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Our process differs slightly from other advisory firms. We use a process which we believe offers more flexibility and transparency.
Upon registering an account and subscribing to a suitable plan, you will enter your information into our system. This will build a picture of your financial and personal circumstances. When you are satisfied you have provided all the information you can, you make a Submission to us. This takes a snapshot of the information you have provided and along with your objectives, enables us to begin to understand your circumstances and form recommendations.
We will then go back and forth with you to ensure there is no information missing that we think we need to know to make recommendations which are suitable to your circumstances and objectives. Recommendations are then made, which we will ensure you understand. With your consent, they can then be implemented. We will review arrangements regularly.
We are also available at other times during your subscription for any queries you may have, or if you have a significant change in circumstances.
Firstly register for a free account. Once you've created your account, you can select the most suitable subscription plan. If you need some help deciding, or your requirements are more complex or unusual, get in touch with us via support. You may also contact us before registering with any queries.
Once you're subscribed, the first task is to provide your information. This covers every aspect of your financial being. The more detail you provide, the better we can help you. Upon providing your information and making a submission to us, we will get started with the advisory process and getting to know your circumstances better. We will ultimately arrive at a plan or recommendations which can then be implemented with your consent. Everything is regularly reviewed thereafter.
Our system is available 24/7. You may interact with our system at any time of day or night, provide information, make submissions or send messages whenever is convenient. We will get back to you as soon as possible.
Our team mostly work during normal weekday working hours and are more likely to respond during these times. You may, from time to time, receive responses at other times.
Once you make a submission of your data and objectives to us, an adviser, or sometimes multiple members of our team, will be assigned to it. If you need to get in touch with us in relation to that specific submission, you can send messages to us within the submission page.
If you have a general enquiry, you can use our support system.
The inclusions in each plan are listed underneath the plan title on our homepage and also on the subscription page within your dashboard once registered. The features of each plan may change from time to time, so you should check what is included before subscribing.
If you have any further questions prior to subscribing, get in touch with us.
When you subscribe, you are committing to an annual fee. You may elect to pay it up front for a discount, or pay it monthly in 12 equal monthly payments. However, you are liable to pay the full fee regardless of payment option chosen. If you choose to cancel before the end of the year, you will not be entitled to a pro-rata refund.
To cancel your subscription, go to the Subscription page in your dashboard. You can only cancel your subscription if you have paid all fees due. You are entitled to the service until the end of your subscription period. You can go ahead with cancellation by paying all fees due upfront by getting in touch with us to arrange payment. Alternatively, you can switch off auto-renew and let your subscription automatically lapse at the end of the period.
Robo advice typically does not involve much financial advice or planning, but asks a few questions and allocates your money to a pre-determined fund in accordance with your risk profile.
Hybrid advice provides more advice around your circumstances and objectives, but with the added use of technology as part of the advice process.
If you are in a civil partnership with, or married to your partner, you may add them to your existing account and subscription. This is encouraged at the outset. However, you may also choose to have separate accounts but must understand we will need to consider any potential conflicts of interest if we are advising you and your partner separately.
We believe ongoing advice is absolutely essential and should feature as standard. Therefore, all our plans are intended to be ongoing by their very nature. By subscribing to a plan and then continuing to renew it year on year, you will automatically get reviews of your investments. However, we will go a step further each time. Rather than just reviewing your existing investments, we will completely review your circumstances, risk profile and objectives to make sure you are on track.
This is currently only possible if you are investing on behalf of your children, for instance in a Junior ISA or pension arrangement. It is not possible to make investments in others' names. If you have a partner, they can be added to your account free of charge, and they will be included in any financial planning process.
In order for us to fully understand your personal and financial circumstances and objectives, you will need to disclose the information we ask for. If you insist on withholding certain information, you will receive limited advice. We cannot provide full financial advice or planning without a full picture of your circumstances.
Your data is completely secure with us. Information is encrypted during transmission and in storage.
If we have arranged your investments, you will be provided with login details to a portal to access information about your investments whenever you wish. We do not import your investment data into our portal, because the accuracy of that information cannot be guaranteed. Instead, we prefer to give you access directly to the investment provider. We believe in full transparency.
You should first consider the terms of your engagement with your existing adviser. If there are no obvious reasons you cannot switch your adviser, you can simply provide instructions to your existing adviser of your intention to leave in accordance with the terms.
Get in touch with us if you need to make an unexpected withdrawal from your investments. We will need to know the circumstances around the withdrawal and with your authorisation it can be processed. It is important for your plan to be reviewed if such a withdrawal is required because it means you encountered a cash shortfall. A plan should be put into place to avoid a recurrence.
Asset allocation is the spreading of your investment funds across different asset classes, such as equities, fixed income, property and cash. Each asset class has its own income and growth characteristics and often a combination is required to both control risk, and achieve your investment objectives. We carry out asset allocation via the investments we recommend to you.
An additional benefit of asset allocation across asset classes is diversification. This means that it is unlikely all the assets will move in the same direction at the same time. This can provide some protection in a downturn or period of weakness in financial markets.
We provide advice entirely through digital means and pass on the cost savings to our clients. We have developed our own technology to help cut costs further. Our primary focus is delivering the expected service to clients at an affordable price.
We do not levy a charge as a percentage of your assets or portfolio. The fixed fee is all you pay unless you have unusual or complex advice requirements, which we can discuss with you in advance of any commitment.
In many other ways, we are not different at all. We still maintain high standards of ethics and integrity, and follow all of the FCA's regulations and best practices. Our advisers are qualified and regulated.
You can find more details on our Comparisons page.
We can provide financial advice and planning to any adult who is UK resident and domiciled. There is no minimum portfolio size or amount you wish to invest. In fact, you can seek advice from us without having anything to invest. We provide a holistic planning service, which looks at all aspects of your financial and personal circumstances, including your insurance and protection needs.
A fee-free mortgage service is also offered. We have access to almost 100 lenders and can arrange residential and buy-to-let mortgages, as well as equity release transactions.
There are a few reasons why our fees are low compared to others:
Many robo advice services do not actually provide financial advice or planning. You are asked some questions to determine your risk tolerance, and then your funds are placed in a pre-determined fund. Your personal and financial circumstances are not considered nor is there an adviser to conduct research or prepare a plan.
The only similarity between uprosper and robo services is that we conduct our business digitally. That is where the similarity stops. We provide a full financial advice and planning service and will always consider clients' circumstances. We consider as many investments as possible in the marketplace rather than operating our own funds.
You can find more details on our Comparisons page.
Our system is available 24/7. You may interact with our system at any time of day or night, provide information, make submissions or send messages whenever is convenient. We will get back to you as soon as possible.
Our team mostly work during normal weekday working hours and are more likely to respond during these times. You may, from time to time, receive responses at other times.
Once you make a submission of your data and objectives to us, an adviser, or sometimes multiple members of our team, will be assigned to it. If you need to get in touch with us in relation to that specific submission, you can send messages to us within the submission page.
If you have a general enquiry, you can use our support system.
All advisers at uprosper are qualified to at least a minimum Level 4 standard, which is required by the Financial Conduct Authority (FCA). Every adviser also undertakes regular professional development to remain up to date on the latest products, services and changes in the financial markets.
Some of the qualifications our advisers have are:
We are authorised and regulated by the Financial Conduct Authority (FCA). Our Firm Reference Number (FRN) is 922134. You can find our details on the FCA Register (link opens in new window). You can search by our FRN or by our company name, Prosper Fintech Limited.
Advisers must hold a minimum Level 4 qualification which has been approved by the Financial Conduct Authority (FCA). These qualifications provide the theoretical basis to providing advice on investments, pensions and protection. Additionally, our advisers who provide recommendations on mortgages have the appropriate qualifications for mortgages and equity release.
Advisers may also have higher level qualifications and designations, such as Chartered Financial Planner and Chartered Wealth Manager.
Our advisers are direct employees of uprosper and are paid a salary. They are not offered incentives to try to increase sums invested or to generate additional charges. Advisers do not "own" any clients. As a result, our advisers are encouraged to provide the best service possible, without any concern for transaction volume, frequency or type.
Managing your money is more complex than ever. There are thousands of products and services available, competing for your investment. However, people's needs and circumstances are more complicated too.
A qualified and regulated financial adviser or planner can understand your personal circumstances and recommend suitable investments. The diligence with which an adviser works can vastly reduce the chances of taking on too much risk, or failing to meet your objectives.
Advisers also have access to various products and services which may not be available directly to investors, which could lead to better outcomes.
We can provide financial advice and planning to any adult who is UK resident and domiciled. There is no minimum portfolio size or amount you wish to invest. In fact, you can seek advice from us without having anything to invest. We provide a holistic planning service, which looks at all aspects of your financial and personal circumstances, including your insurance and protection needs.
A fee-free mortgage service is also offered. We have access to almost 100 lenders and can arrange residential and buy-to-let mortgages, as well as equity release transactions.
Cashflow planning determines whether your income can sustain your expenditure over your lifetime. We find cashflow planning particularly useful to determine whether you can meet an upcoming one-off large expenditure (e.g. the purchase of a car) and also to be prepared for retirement. In retirement, we consider your objectives and what your ideal retirement looks like. Then, cashflow planning is applied taking into account your current income and spending, to see if, with investment returns, you will be able to spend in retirement as desired. If not, it is never too late to make necessary adjustments.
Robo advice typically does not involve much financial advice or planning, but asks a few questions and allocates your money to a pre-determined fund in accordance with your risk profile.
Hybrid advice provides more advice around your circumstances and objectives, but with the added use of technology as part of the advice process.
If you are in a civil partnership with, or married to your partner, you may add them to your existing account and subscription. This is encouraged at the outset. However, you may also choose to have separate accounts but must understand we will need to consider any potential conflicts of interest if we are advising you and your partner separately.
We believe ongoing advice is absolutely essential and should feature as standard. Therefore, all our plans are intended to be ongoing by their very nature. By subscribing to a plan and then continuing to renew it year on year, you will automatically get reviews of your investments. However, we will go a step further each time. Rather than just reviewing your existing investments, we will completely review your circumstances, risk profile and objectives to make sure you are on track.
In order for us to fully understand your personal and financial circumstances and objectives, you will need to disclose the information we ask for. If you insist on withholding certain information, you will receive limited advice. We cannot provide full financial advice or planning without a full picture of your circumstances.
Your data is completely secure with us. Information is encrypted during transmission and in storage.
Setting aside some money each month to invest in a pension and/or an ISA is the best way to save for retirement. Depending on how far you are from retirement, we can recommend suitable investments and products to help you achieve your retirement goals. If we determine that your current trajectory does not meet your retirement goals, we will explore options to make changes now to raise the probability of achieving the objectives later.
Asset allocation is the spreading of your investment funds across different asset classes, such as equities, fixed income, property and cash. Each asset class has its own income and growth characteristics and often a combination is required to both control risk, and achieve your investment objectives. We carry out asset allocation via the investments we recommend to you.
An additional benefit of asset allocation across asset classes is diversification. This means that it is unlikely all the assets will move in the same direction at the same time. This can provide some protection in a downturn or period of weakness in financial markets.
We use a psychometric methodology to determine your likely risk score out of 10. However, this is not automatically applied when considering your investments. We will consider this score within the context of your circumstances and objectives. If we believe the score to be too high or too low to meet your objectives, we will discuss this with you and agree a revised score.
Typically, you will have a cooling off period with any product you purchase, which will be advised to you before committing to it.
With investments, you may suffer (or gain) from some market movements and therefore price changes if you wish to cancel. The investments have to be sold first, and the money subsequently returned to you.
We consider funds from all providers. We are not restricted to any one or subset of providers, nor do we restrict which funds can be considered from those providers. By considering the widest possible range of funds, we are able to recommend investments to our clients which have been chosen based on a range of factors, and ultimately selected because they will help to achieve an optimal outcome for our client.
We are authorised and regulated by the Financial Conduct Authority (FCA) as are the providers we recommend. In the unlikely event they were to fail, you are afforded protection via the Financial Services Compensation Scheme (FSCS). Their website (link opens in a new window) contains more details of the sums of protection available for various product types.
Investments carry risks that you may not get back the full amount you invested. The amount of risk taken varies depending on the investment. Riskier investments may have bigger returns, but you will also risk more of your capital in that pursuit. As advisers, we look to manage the risk you take in accordance with your risk appetite and capacity for loss.
Risk tolerance is how much risk you can tolerate. This typically involves how much the value of your investment fluctuates (in both directions). Along with risk tolerance, we will consider your capacity for loss, which is how much of a drawdown in the value of your investments you can tolerate, or the maximum amount of money you can both afford, and be comfortable with losing.
Inflation is an increase in the general price level of goods and services, and conversely a decline in the purchasing power of a currency.
Persistent inflation can erode the value of your savings in real terms which means the purchasing power is falling. Typically, interest paid on savings is lower than the rate of inflation.
By investing the savings, it may be possible to achieve a return on the investment in excess of inflation. This would mean the real purchasing power of your savings is not falling.
A cryptocurrency is a digital currency which can be transferred via computer networks. Record of ownership of coins is on a digital ledger. There are thousands of different coins.
As far as investing in cryptocurrency is concerned, the normal rules apply. The various risks surrounding the investment must be considered. Because there are many scams to do with cryptocurrency coins, most coins should not be considered as investments. There is a real risk of losing all funds invested. "Mainstream" cryptocurrencies such as Bitcoin and Ethereum have a little more stability. However, there is still the risk of exchange issues, and extreme volatility. Furthermore, the regulatory landscape around cryptocurrency is in its infancy.
In short, we do not consider cryptocurrency a suitable investment for most people. For anyone insistent on buying cryptocurrencies, extensive research should be done around the risks, and even then, only a very small proportion of one's portfolio should be invested. There should be the expectation of significant fluctuations in its value, and the potential risk of losing much or all of the amount invested.
Yes. But the terms, and time limits, vary according to the type of product or service. Insurance products may have a cooling off period allowing you to cancel within a certain period. Investments can be cancelled by selling them, but you may incur losses due to market movements during the time the money was invested.
You will be made aware of your cancellation rights before committing to any product or investment.
We do not fix return expectations. Returns on your investment can be affected by a number of factors. Firstly, your appetite for risk taking is considered. If you have a more adventurous risk appetite and are able to take larger percentage losses or drawdowns in the value of your investments, it may also be possible to see greater returns. Typically, the greater the risk taken, the greater the reward, or loss.
Additionally, market events can affect returns. Returns may be reduced or negative during a recession for instance.
We ensure you take the appropriate amount of risk in your investments for your risk profile and financial circumstances. Investments are made to target achieving your financial objectives.
We do not have any minimum portfolio sizes or investment amounts to benefit from our service. We are pleased to provide advice to anyone regardless of their portfolio size and understand those who are starting out with saving and investment may not have anything to invest yet.
Some of your investment options themselves may be restricted if you have a very small initial amount to invest. We will find suitable investments for you based on your requirements. If you are looking to invest a sum every month, some investments may have a minimum amount for this. Again, if the amount you wish to save or invest is small, we will still find suitable investments for you.
It is never too early to start investing. Due to the benefits of compounding, and the eroding effect of inflation, the earlier you start investing, the better outcome you can achieve at the end of your investment horizon. For many, the end of the horizon is at retirement, when you may seek to draw down the investments to fund a certain lifestyle.
By investing early and reinvesting gains (i.e. not taking withdrawals), your gains will compound. The value of time invested should not be underestimated.
Tax on your investment gains will depend on the wrapper they are held in. Gains on investments held within an ISA do not attract a tax liability. Likewise, investments held within a pension do not attract a tax liability. Withdrawals from a pension will attract tax as will any gains on investments held outside of a tax-efficient wrapper.
This is currently only possible if you are investing on behalf of your children, for instance in a Junior ISA or pension arrangement. It is not possible to make investments in others' names. If you have a partner, they can be added to your account free of charge, and they will be included in any financial planning process.
If we have arranged your investments, you will be provided with login details to a portal to access information about your investments whenever you wish. We do not import your investment data into our portal, because the accuracy of that information cannot be guaranteed. Instead, we prefer to give you access directly to the investment provider. We believe in full transparency.
ESG stands for Environmental, Social and Governance. These are factors used in an investment process to determine the strength of a company in respect of sustainability.
Environmental factors look at a company's impact on climate change (both positively and negatively).
Social factors consider a company's record on human rights, how employees are treated and involvement with the local community amongst other things.
Good corporate governance involves balancing the interests of various stakeholders in a business. For investors, they will want to know that shareholders' interests are being considered by the board of directors.
Investment funds have an investment style: passive, active or a mix of the two.
Growth investments tend to have a longer horizon, without the need to generate or draw income from them. The objective is to gain an appreciation in the value of your capital.
Income investments are used when you have a regular income requirement, because their underlying investments are selected on the basis of their regular, reliable income generation.
We believe cryptocurrencies are a highly risky investment and it is unlikely that they would feature in our portfolio constructions. We cannot guarantee the safety of our clients' money in any cryptocurrency coin and the excessive fluctuations in value, plus the risks around exchanges, scams, liquidity and regulation mean it is difficult to justify their inclusion.
If clients have investments in cryptocurrency they wish to retain, we will make them aware of the risks.
Get in touch with us if you need to make an unexpected withdrawal from your investments. We will need to know the circumstances around the withdrawal and with your authorisation it can be processed. It is important for your plan to be reviewed if such a withdrawal is required because it means you encountered a cash shortfall. A plan should be put into place to avoid a recurrence.
Setting aside some money each month to invest in a pension and/or an ISA is the best way to save for retirement. Depending on how far you are from retirement, we can recommend suitable investments and products to help you achieve your retirement goals. If we determine that your current trajectory does not meet your retirement goals, we will explore options to make changes now to raise the probability of achieving the objectives later.
As ESG investing has exploded in popularity, so has greenwashing. Greenwashing is the practice of a company, or a fund manager, to make their company or fund look more sustainable, or to boost its ESG factors. A company may do so to make it look more attractive for investment from an ESG-focused investor or fund. A fund manager may do so to attract more investment funds.
An example of greenwashing is if a company which scores generally quite poorly across its ESG factors, makes a modest change to one of its processes or behaviours, and then engages in a PR campaign around that activity. This would give the impression the company's principles are aligned with sustainability. However, many other underlying ESG factors are unchanged.
Asset allocation is the spreading of your investment funds across different asset classes, such as equities, fixed income, property and cash. Each asset class has its own income and growth characteristics and often a combination is required to both control risk, and achieve your investment objectives. We carry out asset allocation via the investments we recommend to you.
An additional benefit of asset allocation across asset classes is diversification. This means that it is unlikely all the assets will move in the same direction at the same time. This can provide some protection in a downturn or period of weakness in financial markets.
You may get in touch with us via Support to make a complaint about our service. We will advise you on the complaints process. If you are not satisfied with our response to your complaint, you may in certain circumstances escalate it to the Financial Ombudsman Service (FOS) (link opens in a new window).
You may reach out to Money Helper (link will open in a new window) which is backed by the government and can offer guidance on money management, pensions and debt.
Note that they are unable to provide financial advice. For this, you would need to use a service such as ours, provided by regulated advisers.
Yes. But the terms, and time limits, vary according to the type of product or service. Insurance products may have a cooling off period allowing you to cancel within a certain period. Investments can be cancelled by selling them, but you may incur losses due to market movements during the time the money was invested.
You will be made aware of your cancellation rights before committing to any product or investment.
Advisers must hold a minimum Level 4 qualification which has been approved by the Financial Conduct Authority (FCA). These qualifications provide the theoretical basis to providing advice on investments, pensions and protection. Additionally, our advisers who provide recommendations on mortgages have the appropriate qualifications for mortgages and equity release.
Advisers may also have higher level qualifications and designations, such as Chartered Financial Planner and Chartered Wealth Manager.
Setting aside some money each month to invest in a pension and/or an ISA is the best way to save for retirement. Depending on how far you are from retirement, we can recommend suitable investments and products to help you achieve your retirement goals. If we determine that your current trajectory does not meet your retirement goals, we will explore options to make changes now to raise the probability of achieving the objectives later.
Financial protection typically involves taking out insurance policies which pay out on a specific type of event. For instance, critical illness cover (CIC) pays a lump sum to you or your family if you suffer a critical illness according to the definitions within the policy.
The purpose of taking out financial protection is to ensure that you can continue to sustain your standard of living even due to a shock from an unforeseen circumstance. With some types of insurance, such as life insurance or CIC, an aim of having the policy is to be able to pay off some or all of your mortgage, or for your surviving partner to be able to do so, in the event of your untimely passing.
We consider your financial protection needs by looking at your current financial position and mapping out your future needs. We then conduct a what-if analysis to see where you may struggle or suffer without insurance. On this basis we determine your requirement, and then research the whole market of providers and products to find the best policy which meets that requirement which we then recommend to you.
We are not tied to any one provider and consider the whole of the market when finding suitable policies.
If you still have an unanswered question or require more clarity about something, please do not hesitate to get in touch with us. We will be happy to help.