CASE STUDY

BEN Garnett, a structural engineer for an Aberdeen oil company, is glad to be avoiding deposit accounts for his monthly savings.

“The way the money market is now, with the Bank of England cutting interest rates even more, it is pointless putting money in standard savings. I was looking for something extra,” he explained.

Garnett investigated online investment platforms and chose MoneyFarm.

“There are a few, and you can potentially lose money as well, but if you invest for long enough in the stock market it should work.”

His answers to the risk questionnaire showed him to be a “fairly adventurous” investor, and this was rewarded in recent weeks in a volatile market when his portfolio “went up by quite big margin”, Garnett said, adding: “It was good. You have an app on your phone where you can monitor it.”