It's mainly you, not me
To be honest, I liked THEO from the start. They provide a very simple product, their interface is one of the best I have seen in Japan, and the customer service is speedy and thorough.
I've been putting money into my THEO account for over two years now, and I still like them a lot. However, there are several downsides I have become more aware of:
- no tax-loss harvesting
- the 1% fee doesn't include fund fees
- no tax advantages
The biggest problem is that fee. 1% on top of the fund fees means you could easily do the same thing yourself, in a NISA account, and save yourself 1% a year. As I have said to THEO themselves several times, this is just too expensive for what they offer.
In December I published my annual progress report for THEO, and things are roughly the same now as they were then, but I have increased my monthly contribution to 50,000 yen. I will be keeping my account for now, but decided to close my wife's one and invest directly in her ordinary broker account instead.
The process was extremely easy and simple (typical THEO, to be honest).
The process takes a couple of weeks before the money arrives in your bank account.
I am still planning to do at least one more annual update for my own THEO account at the end of this year and will decide what I am going to do with it then.
How about you? Anyone using THEO? Are you planning to continue?