It was good while it lasted
I was planning to keep my THEO account for at least the rest of this year, but decided to close it last week instead. It didn't seem to make much sense to keep putting money into it once I had decided it wasn't a good fit any more.
We talked about the reasons in the last THEO post.
When I closed the account it had just over 1.6m yen in it (not bad for a couple of years!). I opened a Monex account (for diversification purposes and to gain access to the interface to allow me to help people with it) and will invest that money in Japanese mutual funds.
I'll also continue putting in the monthly amount I was putting into THEO. Once that is set up we'll run a post or two about the experience.
So far it was all pretty smooth. I have the option to set up monthly investing (つみたて) into mutual funds with Monex, so that might also be worth exploring.
Anything you can do to automate your saving and investing (reduce friction, increase compliance) is a good thing. We'll be talking about this on the blog soon.
How about you? Anyone sticking with THEO? For the record I still like them, but those fees are just too high for me.