Help & Support

There may be times when you need a little help using Tiller


Get in touch

If you need to get in touch with us about your account or your portfolio you can contact us via phone or email.

Contact by telephone

+44 330 390 4500

Opening hours
Mon – Fri / 9:00am to 5:00pm


FAQs

Here are the most commonly asked questions by category:

Why hasn't my account been activated straight away?

At Tiller, your identity verification is performed by our automated process, where possible. However, in certain circumstances, your documents may require manual checks and this process may take a number of working days. Your account can only be activated once these checks are complete. We will contact you via email as soon as your account is activated.

What happens if I want to change my bank account details?

For security reasons, please call the Tiller customer support telephone number on 0330 390 4500 and we will sort this out for you.

What is Disposable income?

This is the amount of money you have available to spend from your income after deductions such as income tax, national insurance and social security. In other words, your income that isn’t committed to mandatory expenses.

What happens when I deposit money with Tiller? Where is it held?

Your money is credited into segregated client accounts, held at HSBC Bank, the 'Custodian Bank', or HSBC’s ‘Sub-Custodian’ banks, controlled by the SEI Investments (Europe) Ltd the 'Custodian'. Your money is kept separate from Tiller Investments Ltd bank accounts and we therefore have no direct access to it. From there your money will be invested into ETFs &/or active funds in accordance with the allocations table in your portfolio. Your investments are similarly held in safekeeping by the Custodian.

How much money do I need to initially pay into my Tiller portfolio?

You need to fund your portfolio with an initial lump sum of a minimum of £5,000 for ‘Core’ and ‘Smart’ portfolios, and £20,000 for ‘Select’ portfolios. To kick off this process, you need to log onto your account and click the 'Fund' button to obtain your unique reference which you will then use when making your bank transfer into your portfolio. Please note that this transfer will not happen automatically, you will need to instruct your bank directly and quote the unique reference. Thereafter, you can use our online direct debit facility to arrange regular payments into your account. This feature is available from within your account page.

What is a General Investment portfolio?

Any realised gain from a General Investment Portfolio is subject to taxation and does not benefit from any tax exemption treatment from HMRC.

What is an ISA portfolio?

ISA stands for Individual Savings Account. Think of it as a way to shelter your money from the UK tax man in a government designed scheme. ISA is sometimes referred to as a tax 'wrapper'. The benefits of Stocks & Shares ISA are (i) there is no capital gains tax on the profits made from share price increases (ii) there is no tax on dividend income from shares or interest earned from bonds (iii) potential for higher returns than a Cash ISA over the long term, and; (iv) it costs no more to set up a Tiller ISA portfolio than a General Investment portfolio.

How much is the ISA allowance?

The total amount you can save in ISAs in the current tax year is £20,000. You can choose to use your ISA allowance in a cash ISA, a Stocks & Shares ISA, an innovative finance ISA, a lifetime ISA or any combination of the four as long as you don't exceed the annual allowance. Tiller offers a Stocks and Shares ISA because we are an investment manager.

What are the tax benefits of an ISA?

(i) there is no capital gains tax on the profits made from share price increases (ii) there is no tax on dividend income from shares or interest earned from bonds (iii) it costs no more to set up a Tiller ISA portfolio than a General Investment portfolio.

How many ISA's can I have?

For each tax year, you can have only one of each type of ISA (one cash ISA, one Stocks & Shares ISA, one lifetime ISA and one innovative finance ISA). You can only contribute up to the aggregate annual limit (currently £20,000). In other words, if you have more than one ISA type in any given tax year, the total contributions can only be up to the annual limit (currently £20,000). For example, if you have already opened a Cash ISA with your bank and depositied £5,000 in your ISA account during the current tax year, you could open a Tiller Stocks & Shares ISA and deposit up to an additional £15,000 during the current tax year. It is up to you to manage the total value of your contributions. You can also have different ISA providers for each ISA.

What kind of ISA do you offer?

Tiller currently only offers a Stock and Shares ISA because we are a discretionary investment manager.

Who is eligible to open an ISA?

Stocks & Shares ISAs are available to UK residents aged over 18. You can't open an ISA on behalf of someone else. You can determine your residency status by using the guidance on the HMRC website - refer to the Statutory Residence Test guidance. You will need to provide your National Insurance number to open an ISA.

Do I have to declare income or gains in an ISA on my UK Tax Return?

Investors do not have to declare income or gains in an ISA on their tax returns, unless the ISA subscription has been made void.

Do you offer a Junior ISA?

No, we are currently not offering a Junior ISA, but it is something we may look to provide in the future.

Can I contribute to an old ISA where I didn't use up my whole contribution allowance?

No, once the tax year has finished you can no longer contribute to that ISA.

Can I transfer a Stocks and Shares ISA to Tiller from another provider?

Yes, but you need to contact Tiller Customer Support on +44 (0) 330 390 4500 to start the process. Once you have set started the process, Tiller will work with your current provider to transfer your existing Stocks and Shares ISA over to Tiller. Please note, you cannot transfer a Cash ISA to Tiller.

How do I personalise my portfolio?

For each of your Tiller portfolios, you can choose from 3 portfolio types – ‘Core’, ‘Smart’ and ‘Select’. We help you to compare the features of each and make an informed choice. A ‘Select’ portfolio allows you to personalise your investments by adding certain thematic investments into your portfolio.

How many Themes can I have in my ‘Select’ portfolio?

The number of Themes you can have in a Tiller ‘Select’ portfolio depends on the risk rating for that portfolio and the position size of the Theme that has been allocated by our systems. The maximum number of Themes in a single portfolio is 5 for a Risk Rating 5 portfolio. For more information, please see our more detailed explanation called ‘An introduction to thematic investing with Tiller’ within the Insights section at www.tillerinvest.co.uk/news.

What is the minimum and maximum position size that can be allocated to a Theme in a ‘Select’ portfolio?

The position size is affected by various factors including historical performance and the volatility of the Theme. Currently, the minimum position size that Tiller will allocate to a Theme is 2% and the maximum is 8% per Theme.

Can I decide on the position size for a Theme in a portfolio - and can I change the position size myself?

No, the position size in a Theme is decided by Tiller on your behalf. This is because we are providing a discretionary managed portfolio service and we have discretion over position sizing in order to keep your portfolio risk within its risk band.

What is the total allocation that can be made to Themes within a portfolio?

The total allocation is linked to your Risk Rating.

Risk 1 portfolios can only be allocated up to an aggregate amount of 10% in Themes.

Risk 2 portfolios can only be allocated up to an aggregate amount of 12% in Themes.

Risk 3 portfolios can only be allocated up to an aggregate amount of 14% in Themes.

Risk 4 portfolios can only be allocated up to an aggregate amount of 18% in Themes.

Risk 5 portfolios can only be allocated up to an aggregate amount of 20% in Themes.

Can I add Themes into my ‘Core’ portfolio?

No, you can only add Themes into a ‘Select’ portfolio. Please note there is a £100,000 minimum balance for a ‘Select’ portfolio.

What is a Tiller 'Theme'?

Tiller Themes can be added by you into your ‘Select’ portfolio and allow you to adjust your existing portfolio in order to further personalise it and to invest in preferred investment areas. Themes are active funds or ETF’s focused on investing in certain asset classes, geographic regions or market sectors that may not already be included in your portfolio - for example ‘Clean Energy' and 'Ethical Equity'. Tiller will ensure that your portfolio remains within its Risk rating after you have added a Theme or Themes by recalculating the overall portfolio allocations every time you change the Themes in your portfolio. Tiller is the only UK online investment manager that offers this level of portfolio personalisation.

Who is responsible for overseeing Themes that I add in to a ‘Select’ portfolio?

If you choose a ‘Select’ portfolio type for any of your portfolios, where you are able to select one of more investment Themes, you remain responsible for the inclusion of such Themes within your portfolio. This means that any such selected Themes will remain in your portfolio until such time that you remove it. However, we retain the right to use our discretionary management powers to remove a certain Theme from your portfolio if we believe it is no longer suitable for your risk profile – for example if the Theme has become too volatile. For more information, please see our more detailed explanation called ‘An introduction to thematic investing with Tiller’ within the Insights section at www.tillerinvest.co.uk/news.

How do I change the Themes in my portfolio?

Sign in to your account and select the portfolio you want to modify, then select Detail > Manage portfolio > Change Themes. Once you are finished you need to confirm the changes to your portfolio. You can do this from your computer, mobile phone or tablet. As our portfolios are intended to be longer term investment solutions, we currently only allow four changes in portfolio Theme selection per year. We will charge a £50 fee for each additional Theme change within that year.

Why are some Themes not available to lower risk portfolios?

In order to maintain and control the risk of your portfolio, we have to filter out the more volatile Themes which would be unsuitable for more conservative portfolios. As a result, the greater your risk tolerance, the more Themes you can select from - and vice versa.

Why has a Theme disappeared from my portfolio?

Tiller reserves the right to remove a Theme(s) from client portfolios should the Theme be considered inappropriate for those portfolios due to a number of factors which may include: a large increase in the volatility of the Theme, a reduction in the liquidity of the Theme or the closure of the active fund/ETF in which the Theme invests.

If Tiller, in its role as the discretionary manager for the overall portfolio, decides that it must remove the theme from your portfolio, we will contact you in advance of this action to give you due warning and to highlight the implications.

How do I see what Themes are currently in my portfolio?

Sign into your account, select the portfolio that you wish to view, then navigate to the detailed view of your portfolio by selecting Detail > Asset split.

Does Tiller offer a Self Invested Personal Pension (SIPP)?

No - Tiller may look to introduce a Self Invested Personal Pension portfolio type in the near future, however we currently offer Stocks and Shares ISA and general investment portfolio types.

What is an Exchange Traded Fund?

An Exchange Traded Fund (ETF) is an investment fund that closely tracks an index such as the FTSE 100 equity index. They are commonly described as 'passive' investments as they do not seek to outperform the index through active investment decision-making. The key difference is that they are traded on a stock exchange and this means that an investor can gain exposure to an index by buying just one security, rather than having to buy all the individual component securities of the underlying index. Just as the underlying index that they track can go up and down, so can the price of an ETF and you may get back less than you invested. Today there are thousands of different ETFs that facilitate gaining exposure quickly, simply and cheaply to global assets such as shares, bonds, commodities and property. The advantages of an ETF are that the management fee is typically lower than an equivalent active fund and they generally perform in line with their respective index, unlike many active funds which may underperform over extended periods of time. The drawback of ETFs is that if the underlying index is falling in price, the ETF will similarly track that falling price.

What is an Active Fund?

An active fund is any fund where there is a fund manager that is taking active decisions in order to try and outperform a stated investment benchmark or index. To do this, the manager will use a combination of technology and personal experience to try to select and time the entry and exit of individual equities or bonds, which he/she believes are likely to outperform (or underperform) the index, rather than hold all the constituents all of the time (as a passive investor would do). The benefit of this style of investment is that the active fund has the potential to outperform the benchmark/index, thereby earning you a greater investment return than if you had just been holding the relevant benchmark (or passive ETF tracking that index) - for example in a falling market, an active fund manager may decide to increase cash levels in the active fund, thereby reducing losses vs an always fully-invested ETF. The drawback of active funds is that they typically charge higher management fees than an equivalent ETF, and there is no guarantee that they will outperform their benchmark/index. We believe that the relationship between active funds and passive funds is cyclical and it is important to understand this when building portfolios.

How does Tiller select the funds in my portfolio?

For our ETF positions: We start with a proprietary database of over 2500 funds – and from these we only consider regulated funds that do not use leverage. We then filter out those that only make money when the market falls, or are not tax efficient (they must have 'reporting' status).

From the ETFs that remain, we then rank them by size, average turnover and average bid-offer spread to determine which are the most liquid and tradeable. The next step is to analyse their total fees and tracking error to find the cheapest and most efficient. In some cases, the most liquid ETFs are not always the cheapest and, in these cases, we make a qualitative assessment to determine the best overall balance of liquidity vs cost. At the end of this process, we have a filtered universe of approximately 50 ETFs which we determine are best in class for each underlying asset and geographic area.

For our active funds: In the UK, there are currently over 3000 active funds, and choosing the right ones is an art as well as a science. For these active funds, we have our own qualified staff who have many years' experience of assessing and selecting managers and their funds, but we are also supported by a highly regarded third party investment consultancy that works with us to provide an independent viewpoint to ensure that we are only selecting good active funds from effective investment managers. The main criteria for selecting these active funds is firstly that the fund manager should be able to demonstrate, both quantitatively and qualitatively, that they are meeting the objectives of the fund historically over the medium term. Assessing whether the manager can continue to meet that objective going forward is clearly a subjective decision and involves understanding the manager's philosophy, process, and skillsets. Many managers will perform better in some market conditions than others, so an important consideration is to also assess whether the manager's style is appropriate for the conditions we anticipate going forward.

How does the Tiller investment process work?

The starting point is to utilise our proprietary algorithmic computer-driven model to select suitable investments from our universe of ETFs and/or active funds in order to create the optimal portfolio which can meet both the performance and risk targets as defined in your risk assessment. This process utilises historical long term returns as a starting point for predicting future returns, whilst recognising that this is only a starting point - as a result we automatically adjust position sizes depending on our confidence in that predicted forecast. It is our belief that whilst algorithmically-driven models bring a number of important benefits to investment management (specifically in risk management and the ability to monitor multiple portfolios), they can often be caught out by unexpected events – for example the 2008/9 market crash. As a result, our process combines the automated quantitative approach with a more qualitatively-driven discretionary investment committee which can better take into account the after-shocks of unusual market events such as political change, natural disasters, economic shocks etc. The Committee meets monthly and its job is to review the current state of the markets and to ‘sense check’ the current positioning of the portfolios. Whilst portfolio allocations are expected to be generally stable over time, we will adjust them to take into account changing market conditions and opportunities as they appear.

How does my risk appetite affect the investments in my portfolio?

Your risk appetite assessment result is translated into a risk rating ranging from 1 to 5 (i.e. low to high) and our proprietary algorithmic computer-driven model builds a diversified portfolio which matches that risk rating (each risk rating can be thought of as an amount of volatility, expressed as the percentage amount that your portfolio could fluctuate in value over time). Our algorithm selects specific funds and allocates a portion of your investment money to each of those funds in order to maximise your return, while limiting your risk, or volatility, to the upper boundary of your designated risk rating band. Generally, in most situations, a higher attitude to risk is likely to result in a higher overall allocation to equities, which will offer you the best opportunity to benefit from the long term growth of companies in the UK & overseas. Conversely, a conservative attitude to risk will result in portfolios that contain a higher allocation to government and corporate bonds, which typically provide a more reliable income and capital appreciation profile. At the current time, given ultra-low interest rates and the potential for bond prices to fall, we typically use shorter-dated bonds within our conservative portfolios. Whatever your risk appetite, all our portfolios are designed to be diversified across asset type, geography, issuer risk and currency in order to diversify risk and to maximise investment opportunity.

What is a portfolio?

Your portfolio is a personalised 'managed portfolio’ that is particular to you and contains a number of different, diversified financial instruments, depending on your portfolio type and risk rating. You can have more than one portfolio in a single Tiller account.

Can I decide on the position size in a portfolio - and can I change the position size myself?

No, the position size in all portfolios is decided by Tiller on your behalf. This is because we are providing a discretionary managed portfolio service and we have responsibility over position sizing in order to keep your portfolio risk within an appropriate risk band.

Can I have a portfolio comprising of purely actively managed funds?

No, our ‘Smart’ portfolio is a blend of actively and passively managed funds. Actively managed funds are carefully selected by the Tiller investment team to offer you the potential of out-performance compared with an investment benchmark index.

How do you understand my attitude to investment risk?

As part of the online process of opening your account and any subsequent portfolios on our website, we will ask you a carefully selected series of questions which are specifically designed to allow us to learn about you, your attitude to risk, your financial capacity, your goals, your investment knowledge & experience and your attitude to savings and investments. It is extremely important that you provide us with accurate information, as we will make investments for you based on our analysis of your answers. If your requirements change you must inform us of the changes online, so that we may match our services to your requirements. We think it is good practice to revisit your risk profile annually. Tiller risk ratings range from 1 (most conservative) to 5 (most aggressive). Each risk rating is translated into a volatility band (expressed as the percentage amount that your portfolio could fluctuate in value over time). You can see the 1 year volatility rating of each underlying asset in your portfolio by selecting the zoomed in view of the "Fund List" in the portfolio builder tool.

Why do you need to assess my attitude to investment risk?

Successful investing is all about getting the right balance between risk and return for you as an investor - it is therefore essential that we understand your risk appetite and build a portfolio that targets both a level of investment return and a level of risk appropriate to you. The way we do this is that the results of your risk questionnaire are translated into a volatility rating band and our proprietary algorithmic computer-driven model then builds a diversified portfolio which matches that volatility rating. The algorithm selects specific funds and allocates a portion of your investment money to each of those funds in order to maximise your return, whilst seeking to limit your risk, or volatility, to the upper boundary of your designated risk rating band.

How can I see the risk level for each portfolio?

On your mobile phone, sign in to your account and select the portfolio you want to view, then select Detail, then click the Portfolio details down arrow. Your risk level is shown together with your portfolio’s ‘Strategy’ type, and client number: Risk level 1 is the most conservative, Risk level 5 is the most aggressive.

On your desktop or laptop computer, sign in to your account and select the portfolio you want to view, then select Detail. Your risk level is shown in the top left together with your portfolio’s ‘Strategy’ type, and client number: Risk level 1 is the most conservative, Risk level 5 is the most aggressive.

Can I change my risk rating for a portfolio?

Yes. Sign in to your account and select your portfolio > Manage portfolio > Change risk. This link will then take you back through the risk questionnaire. Please note that as our portfolios are intended to be longer-term investment solutions, we only allow one change in portfolio type or risk level per year. Any additional change to your risk rating within that year will result in a £50 fee.

It should also be noted that changing the portfolio risk rating will require Tiller to make the necessary changes to your portfolio and will mean that the portfolio will not be fully invested for a period of time whilst these changes are made. This uninvested period could lead to an 'opportunity cost' should the underlying markets perform strongly during that time, compared with if your portfolio had remained fully invested.

How risky are my investments and can I lose money?

We think of risk in two ways. Firstly, the risk of a single holding going to zero. Secondly the risk associated with the overall portfolio’s value fluctuating over time.

The first risk is relatively easy to dramatically reduce. When people lose money on a portfolio holding going to zero, it typically comes from investing into unregulated or highly leveraged investments. At Tiller, we have strict rules that prohibit such investments.

The risk of a portfolio fluctuating in value throughout time is often referred to as the volatility of a portfolio. The reason bonds, equities and other asset classes should generate a return above the risk-free rate (i.e. cash) over the long run, is as a reward for bearing the associated volatility. The more volatility or risk an individual can tolerate, the higher the potential return of their portfolio and vice versa. In other words, some level of volatility is inevitable. Through our investment process we aim to make that risk / return trade off as optimal as possible, that said, as with any investment, the portfolio can lose money in the shorter term, which is why it is important to remember that we recommend that you hold a portfolio for a minimum of 2 years.

What sort of investments will my portfolio contain?

The exact type of investments will depend on which type of portfolio you have selected - 'Core' portfolios contain UK-listed passive Exchange Traded Funds (ETFs), whereas 'Smart' and 'Select' portfolio contain a blend of ETFs and UK-managed active funds. Whatever the portfolio type, the investments are all daily-traded liquid investments issued by highly reputable, well-established investment organisations. Currently, we do not invest directly in individual shares or bonds.

What sort of investments will my portfolio contain?

When we are selecting the investments for your portfolio, one of the key criteria is their liquidity. Wherever possible, we are only selecting investments that can be easily bought and sold on a daily basis. This means only selecting ETFs and actively managed funds that either have a large outstanding issue size (or in the case of ETFs have a liquid underlying asset for hedging purposes). It should be noted that in times of unusual market stress (for example 2008), liquidity cannot be guaranteed and it is possible that it would take longer to sell positions in the market in order to raise cash for portfolios.

How do you assess my attitude to risk?

When you set up a Tiller portfolio, we will ask you a series of questions designed to discover both your appetite for risk and your capacity to absorb any capital losses. ‘Core’ to the overall investment process is the need to ensure that your financial capacity and attitude to risk are understood by both you and Tiller. All investment decisions are made with this attitude in mind.

How long does it take to transfer money out of my Tiller account?

Typically it takes 2 days to sell your ETF assets and 4 days to sell your active funds and then an average of another 10 days to transfer the money to your bank account listed in your Tiller profile. It should be noted that this liquidity applies to normal market conditions, and it may take longer to sell these assets in times of unusual market stress.

Is there a minimum deposit or balance required to open a Tiller portfolio?

Yes. ‘Core’ and ‘Smart’ portfolios have a £5,000 minimum balance per portfolio and ‘Select’ portfolios have a minimum of £20,000 per portfolio.

If you subsequently withdraw money to bring the value of your Portfolio below a minimum investment of £5,000 (or £20,000 in a ‘Select’ portfolio), we reserve the right to sell the holdings in that portfolio and hold your investment for you as cash. We will notify you should your balance drop below these limits.

Does Tiller charge transactions fees if I change my risk profile or investment strategy?

Tiller's account management fee are detailed at www.tillerinvest.co.uk/fees. As our portfolios are intended to be longer term investment solutions, we allow you to make one change in portfolio type, or risk level per annum. Any additional change to your portfolio type within that year will result in a £50 fee.

Can I transfer money from any bank account into my Tiller account?

No, UK regulations prevent us from accepting money from a bank account other than the one you designated during the account setup process, however, if you need to change your bank account, please contact our customer support team on +44 (0)330 390 4500. Please note, we only accept money from UK bank accounts.

How do I add, change or delete a bank account in my Tiller profile?

For security reasons, please contact our customer support team if you need to change your bank account on +44 (0)330 390 4500.

How do I pay money into my Tiller account / What methods of deposit do you accept?

There are two quick and easy ways to pay money into your Tiller account. For one-off lump sum payments, you can use a bank transfer to send the money from your bank account that you nominated in the account setup process. Please note that it is very important that you do this via your own banking facilities and include your 'payment reference number' within the bank transfer instructions - this is so that we can easily identify your money when it arrives and automatically apply it to your portfolio. Please note if you have more than one portfolio in your account, each portfolio has its own payment reference number. Your payment reference number can be found in the ‘Invest more’ section of account management (you will need to sign in to your account to access this), or as part of the account opening process. If you want to set up a regular contribution into your Tiller account then you can set up a Direct Debit 'mandate' by signing into your account and filling in the electronic form on our website, telling us how much and when you would like the cash to be transferred into your investment portfolio - this can also be found in the ‘Invest more’ page.

Can I set up more than one Direct Debit so that I can contribute to more than one of my portfolios?

If you have set up more than one portfolio within your Tiller account, you can set up a separate Direct Debit mandate for each portfolio in your Tiller account, but they must all use the same bank account.

How do I cancel a monthly Direct Debit?

You can cancel a Direct Debit by logging in to your Tiller account and then navigating to the 'Funding' section of your account management.

How long does it take before cash that I send you shows up in my Tiller account?

If you have sent money to us using a bank transfer then it should be visible in your Tiller account within a maximum of 4 days, provided you used the payment reference we supplied to you when you went through the ‘Fund my account’ process. Once the money has been received into your Tiller account, it will be invested in the market at the earliest Tiller trading day which will normally be each Tuesday.

Do you allow cheques or wire transfers for deposits or withdrawals?

No, Tiller can only accept bank transfers or direct debits for deposits and withdrawals. We do not accept, at this time, cheques, debit/credit cards or cash.

How do I transfer money out of Tiller?

At any time, sign on to your Tiller account, select ‘Detail’ for the portfolio you want to manage > Withdraw money and initiate a transfer of the amount you want to withdraw from your Tiller account. Under UK regulations we can only return money to your nominated bank account i.e. the bank account you have set up for your Tiller account. As we need to sell some of your investments to provide the cash you wish to transfer out, it takes, on average, 10 days to process your transaction, depending on your portfolio type. This is because different assets take different amounts of time to sell.

What is Tiller's trading frequency?

New money that has been received by Tiller and applied to your account will normally be invested the following working day. Portfolios are automatically monitored daily to check whether they require rebalancing. Should a portfolio require rebalancing, the required trades will be performed in the appropriate market on the next available ‘investment cycle’ day which usually occur a minimum of twice a week, normally on a Tuesday and a Thursday. In unusual market conditions, Tiller may vary these days or the frequency at their discretion.

Why do you need my identity verification documents?

As a regulated company, and to protect against fraud and money laundering, Tiller is required to collect certain documents to prove your identity.

What documents are required to verify my identity?

We need to collect an image of your ID document (either passport or driver’s licence), and if issued by a non-government body, a copy of a utility bill, council tax or bank statement which shows your residential address. Your proof of address document must be less than 3 months old.

How do I send you my identity verification documents?

The best and most convenient way to submit these documents is by using our Tiller mobile app which is available from the Apple App store and the Google Play store. Type ‘Tiller’ into the search facility on you your phone's app store and download our app. Alternatively, you can send us your certified ID verification documents by post as part of our client account opening process. See the instructions page online, at the end of the account opening process.

Does Tiller provide investment advice?

We provide simplified advice to address straightforward investment needs. Simplified advice is generally appropriate for people who do not need to reduce existing debt, have adequate funds to cater for emergencies and have insurance to protect their families should anything happen to them. This would mean you have some disposable capital or income you wish to invest. You should ensure that your immediate financial priorities are met before deciding to invest with us.

We will exercise our discretion to make investments for you by using information that you have provided, or will provide from time to time, to us, on our website. In order to help to achieve your investment goals, our advice is restricted to the objectives of that specific investment. We do not consider your whole financial picture or other financial products you may have. We do not consider all products or services that may be suitable for you and only advise on the investment portfolios offered by Tiller. This also means that we are therefore unable to provide you with additional investment advice, other than that provided through our web tools

Does Tiller support accounts for minors/children?

No, to open a Tiller account in your name you need to be 18 years of age.

How do I close a portfolio or my account?

You can close individual portfolios within your account by signing in to your account and then selecting Detail on the portfolio you want to close > Manage Portfolio > Scroll down and select Close Portfolio. Note, if you close all your portfolios, we will continue to provide access to your online account for 2 years, at which point we close it if there has been no activity in that time. To close your account, please sign in to your account and contact customer services via our secure messaging page, or call us on +44 (0)330 390 4500.

What does Tiller Investments do for me?

Tiller is an online investment manager that offers you a personalised diversified portfolio that is designed for medium to long term investment purposes. To do this, we offer you a choice of a portfolio of either low-cost Exchange Traded Funds (ETFs) or a combination of ETFs and active funds as a way of investing in global markets.

How is a Tiller portfolio different to a traditional online brokerage account?

Your Tiller account is classified as a personalised investment portfolio, managed on a discretionary basis where you allow Tiller to select and change the underlying investment funds in which your money is invested. With a brokerage account, not only do you have the responsibility of selecting appropriate investments for your initial portfolio, but you would also have the ongoing responsibility of having to monitor and, where necessary, rebalance your portfolio according to your exposure to the various markets and instruments in which you had invested.

How do I add an additional portfolio to my account?

Sign in to your account and select the Portfolios tab from the top menu - scroll down and use the ‘Create a new portfolio’ button to add an additional portfolio. You can do this from your computer, mobile phone or tablet.

Where can I find my account/client number?

You can find your Client number by signing in to your account and navigating to the Portfolio and detail view. From any page in Tiller account management website you can find this by selecting the menu item Portfolios > Detail. Your client number is shown on the top left-hand side of the screen.

Can I set up a portfolio without having an investment target?

Yes - a portfolio need not have a target date or target amount. During portfolio modelling, targets are there simply to help you plan your investments.

Can I rename my portfolio?

No, once you set up a portfolio you cannot change its name.

Once invested, can I change the portfolio type from, say 'Core' to 'Smart'?

Yes. Sign in to your account, select your portfolio > manage portfolio > change strategy. Please note that as our portfolios are intended to be longer term investment solutions, we only allow one change in portfolio type and risk level per annum. Any additional change to your portfolio type within that year will result in a £50 fee.

It should also be noted that changing the portfolio risk rating will require Tiller to make the necessary changes to your portfolio and will mean that the portfolio will not be fully invested for a period of time whilst these changes are made. This uninvested period could lead to an 'opportunity cost' should the underlying markets perform strongly during that time, compared with if your portfolio had remained fully invested.

Does Tiller have a mobile app?

Yes, you can download the Tiller mobile app from Apple and Google. Just visit the App Store or the Play Store and search for ‘Tiller’.

Can I transfer money between portfolios in the same account?

No, not directly. You will have to make a withdrawal from the source portfolio and a payment into the other portfolio.

Can I have more than one account with Tiller?

No, however you can create more than one portfolio within your account and each portfolio can have its own strategy, risk level and funding schedule, providing each portfolio meets the minimum £5,000 criteria. This means, for example, that you could set up one portfolio which represents your long-term investments under a particular risk profile and invested in a ‘Core’ ETF portfolio - and set up another portfolio which represents your medium-term investments under a different risk profile and invested in a ‘Smart’ portfolio.

Can I have more than one portfolio in my account, and if so how many?

Yes, you can have multiple portfolios. There is no limit in terms of maximum number of portfolios built into the system, but the minimum portfolio balance for each new portfolio is £5,000 for 'Core' & 'Smart' portfolios and £20,000 for 'Select' portfolios. Each portfolio can have a different name, risk level and portfolio strategy.

How do I create a new portfolio in my account?

To create a new portfolio, simply click the Create a new portfolio button on the summary page of your account and follow the instructions.

Can I have a joint account?

No, Tiller does not offer joint accounts at this time.

Am I locked in for a minimum amount of time when I open an account?

No, you can withdraw your money at any time. There is no minimum investment period with Tiller, but keep in mind it is generally better to have a medium to long-term investment approach when investing, and we advise not less than 2 years.

What is an expense ratio?

The expense ratio, sometimes called the Total Expense Ratio (TER) or Ongoing Cost Figure (OCF) is a way of calculating and expressing the fees that active funds, exchange-traded funds (ETFs), closed-end funds and money market funds charge. This fee is called a ratio because it is quoted as a percentage of assets per year, e.g. 0.85%. The expense ratio includes the administration, operating and legal costs involved in managing the fund, and sometimes marketing costs to distribute the fund. Even though you will never see a deduction of this fee from your account, you are still paying this fee. It is built into the price of the fund, so it accrues daily, and is proportional to your investment in the fund. Therefore, this expense directly impacts your returns in the ETFs and active funds that we invest in for your portfolio. Un less stated otherwise, all Tiller calculations and graphics on our website are calculated and displayed including the impact of these fees, so that valid comparisons can be made between investing via differing fund types (i.e. ETFs vs active funds).

Is my personal information secure with you?

Yes, Tiller is Data Protection Act registered with the UK government. The security of your personal details is of the utmost importance to us. All your data is stored on our secure servers and data that travels from your browser to our servers while you are using our web or mobile apps is encrypted before it reaches the Internet.

Is Tiller regulated?

Yes. Tiller is authorised and regulated by the Financial Conduct Authority (FCA) no. 793479. Details of our permissions can be found on the Financial Services Register. https://register.fca.org.uk

Is my money safe?

Your investment is held in a segregated (i.e. separated and ringfenced) account completely separate from Tiller's assets, in accordance with the Financial Conduct Authority (FCA) rules. Your assets and cash are held in safekeeping by SEI Investments (Europe) Limited, who acts as the Custodian for your investments. In fact, your money never pass through a Tiller account; instead when you invest with Tiller you will transfer your money directly to an HSBC bank account controlled by SEI, the Custodian.

What happens to my money if Tiller were to cease trading? Is my investment covered by the Financial Services Compensation Scheme (FSCS)?

In the unlikely event that Tiller were to cease trading, your money would remain safe. Tiller's own corporate money is completely separate from your assets and cash, at all times, and Tiller is prohibited from accessing your cash. If we were to close, your money would be transferred to an investment services provider of your choice. Furthermore, your money and investments are currently eligible for compensation under the Financial Services Compensation Scheme (FSCS) for up to £50,000 investments and £85,000 cash if the company is unable to repay investments or cash. For further information on the FSCS please visit www.fscs.org.uk/what-we-cover/products/investments/

What are Tiller's fees?

Tiller's account management fees are detailed here: https://www.tillerinvest.co.uk/fees/

How do I pay for my Tiller fees?

We deduct both Tiller fees and on behalf of SEI, the custody, administration & trading fees automatically from your portfolio(s), so there is nothing that you need to do. Each month these fees are typically deducted from the cash balance that is normally present in your portfolio for optimal portfolio management reasons.

How many times can I change the Themes in my portfolio before I incur a fee?

We allow four free changes to your Theme selection per annum. For more frequent changes than this, we will apply an additional fee of £50, per Theme change.

Can I withdraw my money any time at no additional cost?

Yes. There is no charge for withdrawing money or closing your account.

Investments can go down in value as well as up so you could get back less than you invest. Your capital is at risk. Find out more

Tiller Investments Ltd is authorised and regulated by the Financial Conduct Authority (Firm Ref No 793479).
Tiller Investments Ltd is a limited company registered in England and Wales (Company No 10234817).

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