froots
Experiences, reviews and information about the provider
Details
Pros
- Portfolios tailored individually to goal and investment horizon
- Transparent all-in fee with no front-end loads or commissions
- Personal contact person even with smaller investment amounts
- Depot held at an Austrian bank with statutory deposit protection
Cons
- No BaFin supervision, the Austrian FMA is responsible
- No deposit protection of its own, protection only via the partner bank
- Offer geared primarily to the Austrian market
- Tax handling more laborious for German investors than with German depots
Fact sheet: froots
| Company name | froots |
| Founded | 2020 |
| Headquarters | Wien |
| Country | 🇦🇹 Austria |
| Type | robo advisor |
| Website | froots.io |
About froots
froots is run by Asset Management by froots GmbH, based in Vienna, which was founded in 2020 by David Mayer-Heinisch and Dirk van Wassenaer. The company is a licensed asset manager under the supervision of the Austrian Financial Market Authority (FMA) – Germany's BaFin (the financial regulator) is not responsible, and activity in Germany takes place where applicable via the EU passport. froots puts together portfolios tailored individually to investment horizon and goal and charges through an all-in fee that falls with increasing investment volume and longer duration. There is no deposit protection (Einlagensicherung) of its own, because froots is not a bank: account and depot are held at the Austrian Schelhammer Capital Bank, where cash balances are protected, as is usual EU-wide, up to €100,000 through Austrian deposit protection. Securities and fund units in the depot are segregated assets or customer property and are unaffected by an insolvency.
Special features
- Licence as an asset manager under FMA supervision
- Custodian bank is Schelhammer Capital Bank in Austria
- Investors include well-known Austrian entrepreneurs
- Fee falls with rising volume and a longer investment horizon
