Investing money is becoming easier and easier – even for newcomers to the stock market without any prior knowledge. We owe this to robo-advisors and online brokers who have democratized access to the securities market. They are uncomplicated, cheap and there are only a few requirements that new investors have to meet. They offer ETF savings plans or one-off investments in which – compared to conventional securities trading – even smaller amounts can be invested. In this way, more and more people have the opportunity to systematically build up assets or start their retirement provision. One provider that could be suitable for this is the robo-advisor Growney*. What should you know about him and which voucher code can you use to secure a new customer bonus of EUR 100.00?
Growney: What does the robo advisor offer?
Growney* is a robo-advisor that enables its users to invest digitally through regular payments into ETF savings plans or one-off investments. The aim is to use this to build up and manage your own assets or to provide for your pension. Growney offers a large selection of ETFs and stocks. Including: Up to 5000 securities from more than 40 countries. The robo advisor relies on various, partly sustainable investment strategies with different risks and potential returns. This makes Growney particularly interesting for newcomers who are not yet very familiar with securities trading. But professionals can also benefit from the convenient and uncomplicated digital investment.
How does Growney work?
The special thing about robo advisors like Growney*: Investors don’t have to worry about anything. Therefore, they hardly require any prior knowledge. Instead, Growney users only pay into their savings plan or one-time investment. Based on the selected investment strategy, Growney then takes care of securities trading. The robo advisor offers maximum flexibility. The savings rate can be adjusted or paused at any time. Of course, the money can also be paid out if necessary. There are no minimum terms or notice periods.
Investing with Growney: This is how the registration works
to join Growney* In order to be able to register, new customers start with a short online investment consultation, which, among other things, records their financial situation, their previous knowledge and their willingness to take risks. This is followed by a short questionnaire, which is taken as the basis for the appropriate investment strategy. Users can adjust the strategy if necessary before Growney takes care of opening a securities account with a German bank. Then the passive part begins. So only the strategy has to be implemented – for example, regular payments into a savings plan or a one-time investment of a certain sum.
Promotional code for new Growney customers: Get a 100 euro bonus now
From March 1, 2023 to March 31, 2023 offers Growney* We are offering an exclusive promotional code for Business Insider readers. This is how new customers who register successfully receive the voucher BD1000323 indicate a premium of 100.00 euros.
100 euros bonus at Growney: Requirements for using the voucher
The code is only valid for new customers between March 1st, 2023 and March 31st, 2023. In order to receive the bonus, a savings plan of at least EUR 25.00 must also be taken out or a one-time investment of at least EUR 500.00 made. Then, if the savings plan or investment remains in place or within the investment goal for at least a year, the premium is paid. This means that the EUR 100.00 will be transferred to the first investment target by April 30, 2024 at the latest.
Growney promotional code checklist
- bis March 31, 2023 register as a new customer
- when registering the Coupon BD1000323 indicate
- Sparplan create with a minimum rate of 25.00 euros OR one-time investment in the amount of at least 500.00 euros
- for a year pay into the savings plan OR keep a one-off investment in the investment goal for one year
- no later than April 30, 2024 the premium is paid
Costs: What fees does Growney charge?
Many robo-advisors offer vouchers, promotions or bonuses to attract new users. These incentives are intended to allow some providers to overlook poor conditions. At Growney* Is not that the case. The robo advisor is characterized by its transparent costs, prices and fees. The costs result from the deposit value of the investors. Accordingly, Growney charges a fee of 0.68 percent (per annum) for a portfolio value that is less than EUR 50,000.00. From a value of 50,000.00 euros, only 0.38 percent (per annum) is due. The fund costs amount to 0.15 percent to 0.23 percent (per annum). From an investment of EUR 250,000.00, the preferential conditions for Private Banking from Growney (from 0.25 percent per annum) apply.
The Growney fees at a glance
Depot value | Cost |
up to 50,000.00 euros | 0.68 percent (per annum) |
from 50,000.00 euros | 0.38 percent (per annum) |
The fund cost | 0.15 percent to 0.23 percent (per annum) |
Minimum investment at Growney
The minimum investment at Growney is only 500.00 euros for a one-time investment. For savings plans, the minimum rate is EUR 25.00 per execution.
Which bank is behind Growney?
Growney* works with the private bank Sutor Bank. This is where the money from customers is invested. Sutor Bank is a member of the deposit protection fund of the Federal Association of German Banks. Growney himself is also licensed as an asset manager by BaFin (Federal Financial Supervisory Authority), which speaks for the professionalism and seriousness of the robo-advisor.
Review: Is it worth investing with Growney?
The return-oriented investment (e.g. with savings plans) can be worthwhile in principle. Especially with a long investment horizon, the chance of profits is good, since crises and crashes can be sat out and only sold at a favorable point in time. Regardless of the robo-advisor, you should only invest money that you can do without for the time being. The same applies to the one-time investment.
Compared to other providers stands out Growney* characterized by its transparent and uncomplicated cost structure. This makes Growney the ideal provider for anyone who doesn’t want to deal with their savings plan or investment and instead just wants an easy-to-use robo-advisor that does the work for them.
This is how the financial test judges Growney
This also convinces the financial test from Stiftung Warentest. Consumer organization tested Growney (and other providers) (July 2021 issue). For the test, the conditions of robo-advisors with portfolios of EUR 40,000.00 and EUR 100,000.00 were examined. In the 40,000.00 Euro category Growney* with the good overall grade of 1.8 to the test winners. This is due to the high transparency of the provider (quality rating “very good”). However, the annual costs are also somewhat high (quality rating “satisfactory”). Growney did even better in the Stiftung Warentest financial test in the EUR 100,000 category. Here, the robo-advisor was voted the best provider with the quality rating “very good” (grade: 1.3). In this category, too, Growney scores with its high level of transparency. Due to the lower costs for high investment sums, the fees were also rated better (quality rating “good”).
Learn more about Growney
Some more info too Growney* can be found in this overview:
- Fintech company based in Berlin
- Managing Director: Gerald Klein
- Robo-Advisor for digital investments
- Savings plans from 25.00 euros
- One-off investments from EUR 500.00
- Fee between 0.38 percent and 0.68 percent (per annum) of the portfolio value
- Fund costs between 0.15 percent and 0.23 percent (per annum) of the portfolio value
- Cooperation with Sutor Bank (member of the deposit protection fund of the Association of German Banks)
- Quality rating “good” (portfolio of 40,000.00 euros) and “very good” (portfolio of 100,000.00 euros) in the financial test (issue 07/2021)
- promotional code BD1000323 for a premium of EUR 100.00 until March 31, 2023