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Post by skint4achange on Dec 14, 2017 11:11:38 GMT
So, I decided to take a leap of faith and invest some of my ISA allowance with Goji. From what I see they are a relatively new platform but appear to be conducting most of their business for other IFISA providers. So, if other investment houses trust them, why shouldn't I?
So, the first thing I have to report is that for some reason I didn't quite set up mu ISA investment correctly to make any investments. Could have been a bit of a disastrous start and probably would have caused me to get rather annoyed at Goji (It would never have been my fault that the investment wasn't made!  ). However, I didn't need to worry as the day before the bond run was due to take place (I.e. This morning) I received a telephone call from Michal at Goji to inform me that with my current settings I would not be included in the bond run!! Wow! I don't think I have ever had a P2P platform call me to tell me that my investment is not going to take place!
Two ways of looking at this though.
1. Am I one of only a small number of investors in these bonds?
2. Have Goji got the best customer service on the planet?
I tend to be a glass half full type of person so will go with No.2 until proven wrong.
I will of course update this thread wit how things go over time, but so far so good. 
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Post by skint4achange on Jan 11, 2018 10:52:35 GMT
An update from my point of view on Goji and their system.
There was an issue where I logged on and my IFISA had disappeared from the list of investments that I had. I sent a request via the instant messaging service on the side of the home screen and to my surprise it was answered within 20 minutes, on a SUNDAY!!
The issue was a website issue and it was sorted within 2 hours. Michal from Goji contacted me at each stage to update me and allay any fears I had.
I must say that I cannot complain about the level of commitment shown in the customer service department. If only other platforms were as good I might not be withdrawing funds from them as fast as I can!
There is now a much friendlier interface where you can see exactly where your money has been invested and what percentage has been allocated to which platform.
I have not had the IFISA long enough to make any judgement about the returns as of yet, but will keep this post up to date as and when I start to receive payments.
My experience so far has been positive, long may that continue.
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Post by skint4achange on Jan 25, 2018 19:46:00 GMT
So, 1 month on and here is my take on Goji diversified IFISA bond.
My investment has been invested with 7 partners (Some which are regular P2P partners such as Lendinvest, Thin cats Assetz etc.) but a couple that I do not think I would normally be able to invest in with my level of funds (These are Prestige and Sancus).
Goji have just created a new front end to their website and I must confess it is bright, fresh and very informative. The front end tells you who you have invested with within the bond, how much and to which sector you are lending.
The first months interest came in (Not a life changing amount.) which I assume will mostly be taken up with the monthly fees. There is a note on the portfolio page that explains that the returns are expected to be low for the first couple of months due to investments not maturing. I was expecting a slow build up of returns to be honest. I will update again later when the bond is a bit older.
All in all, so far I have had no problems with Goji. Questions have been answered on the same day as asking, the investment in very transparent, and although the transfer in was slowish (Not due to Goji but the fact that the transfer in had to be done by cheque??) I was informed every step of the way as they received the cheque, funds were cleared and bonds were being issued etc.
A very good experience so far.
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Post by skint4achange on Jan 29, 2018 10:21:36 GMT
Just had my first annoying thing from Goji!!
When I first went to open my Goji IFISA I noticed that there had been offers of a free £50 investment if you invested £5,000 and £100 if you invested £10,000. I emailed to ask them if the offer was still open to which I was told that the offer was no longer available.
Guess what? 1 month after opening my IFISA, Goji are now offering the same offer again! 
I guess I need to work on my timing, or shop around a bit more when I open my next IFISA!
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puddleduck
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Post by puddleduck on Jan 29, 2018 11:37:00 GMT
Just so you are not talking to yourself, I've been following this with interest.
I'm tempted to put my toe in, but my instinct is that an annual 0.95% fee is quite high.
I suppose the 0.95% may be worth it to gain access to other platforms that would not ordinarily be available, but their target of 5% per annum seems to be fairly unambitious to me.
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Post by skint4achange on Jan 29, 2018 11:46:16 GMT
Just so you are not talking to yourself, I've been following this with interest. I'm tempted to put my toe in, but my instinct is that an annual 0.95% fee is quite high. I suppose the 0.95% may be worth it to gain access to other platforms that would not ordinarily be available, but their target of 5% per annum seems to be fairly unambitious to me. I knew I wasn't quite talking to myself as I can see the view count going up!
The 0.95% is only paid if you make a profit and if you make less than 1.8% the fees go down (If I understand it correctly, Goji will never make more than you from your money?).
I will make a judgement on the fees etc. after the first year. I think with IFISA being very new, I choose Goji because the founder appears to be a big part of the setup of IFISA. If he can't get it right, who can? 
Whether the 0.95% is worth it to gain access to some of the BH websites, I will let you know in due course! I think pom and littleoldlady on here are also trying out Goji and they are a bit further on in their investment. Would be interesting to see what their take is so far.
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Post by Michal on Jan 29, 2018 11:52:36 GMT
Hi skint4achangeThanks for the feedback - both good and bad! Sorry for the frustration in missing out on our ISA Early Bird Offer. We decided only recently to run the offer this tax year for investors looking at their options in the run up to the ISA season. If you would like to email us on customersupport@goji.investments with your account ID we can look into your individual circumstances and what was specifically communicated to you to ensure we have got things right. I hope this helps but please feel free to get in touch with us if you have any further queries. We're always happy to help! Kind regards Michal |
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Post by skint4achange on Jan 29, 2018 12:02:17 GMT
Hi Michal, many thanks for your input on this thread. Please don't misunderstand, everything I was told by Goji was correct, the offer was not in play when I opened my account but I was just airing frustration at myself for mistiming my entry and missing the £100.
I must confess that my experience of Goji to date has been very positive and any time I have had a problem, my query has been answered within 6 hours by yourself. I wish more platforms answered their clients as efficiently!
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Post by Michal on Jan 29, 2018 12:17:12 GMT
Just so you are not talking to yourself, I've been following this with interest. I'm tempted to put my toe in, but my instinct is that an annual 0.95% fee is quite high. I suppose the 0.95% may be worth it to gain access to other platforms that would not ordinarily be available, but their target of 5% per annum seems to be fairly unambitious to me. I knew I wasn't quite talking to myself as I can see the view count going up!
The 0.95% is only paid if you make a profit and if you make less than 1.8% the fees go down (If I understand it correctly, Goji will never make more than you from your money?).
I will make a judgement on the fees etc. after the first year. I think with IFISA being very new, I choose Goji because the founder appears to be a big part of the setup of IFISA. If he can't get it right, who can?
Whether the 0.95% is worth it to gain access to some of the BH websites, I will let you know in due course! I think pom and littleoldlady on here are also trying out Goji and they are a bit further on in their investment. Would be interesting to see what their take is so far.
Hi puddleduck, skint4achangeThanks both for the feedback. That's correct skint4achange, fundamentally while the overall fees are set 0.95%, Goji’s fee will never exceed investor returns. There are lots of details around this on our FAQs page too so please feel free to have a look. puddleduck, you may be aware already but just for clarity the 5% target return is after fees and bad debts. Our first 12-month bond matured this month and achieved just over 6% after fees and bad debts. I hope this helps clarify in more detail the fees and target return position but please feel free as ever to keep feeding back here or directly to us on customersupport@goji.investments! Many thanks Michal
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dandy
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Post by dandy on Jan 29, 2018 13:03:04 GMT
Thanks both for the feedback. That's correct skint4achange , fundamentally while the overall fees are set 0.95%, Goji’s fee will never exceed investor returns. There are lots of details around this on our FAQs page too so please feel free to have a look. puddleduck , you may be aware already but just for clarity the 5% target return is after fees and bad debts. Our first 12-month bond matured this month and achieved just over 6% after fees and bad debts. I hope this helps clarify in more detail the fees and target return position but please feel free as ever to keep feeding back here or directly to us on customersupport@goji.investments! Many thanks Michal Hi Michal, 6% after fees is quite impressive. To give us some context can you confirm how large that bond was?
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pom
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Post by pom on Jan 29, 2018 13:58:23 GMT
Just so you are not talking to yourself, I've been following this with interest. I'm tempted to put my toe in, but my instinct is that an annual 0.95% fee is quite high. I suppose the 0.95% may be worth it to gain access to other platforms that would not ordinarily be available, but their target of 5% per annum seems to be fairly unambitious to me. I knew I wasn't quite talking to myself as I can see the view count going up!
The 0.95% is only paid if you make a profit and if you make less than 1.8% the fees go down (If I understand it correctly, Goji will never make more than you from your money?).
I will make a judgement on the fees etc. after the first year. I think with IFISA being very new, I choose Goji because the founder appears to be a big part of the setup of IFISA. If he can't get it right, who can?
Whether the 0.95% is worth it to gain access to some of the BH websites, I will let you know in due course! I think pom and littleoldlady on here are also trying out Goji and they are a bit further on in their investment. Would be interesting to see what their take is so far.
2.75% after (almost) 6 months. I do remain sceptical as to how clean the exit will be tho, particularly as not sure yet that I'll want to reinvest.
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Post by skint4achange on Jan 29, 2018 14:50:33 GMT
Many thanks for the update on how it is all going pom. 2.7% after (Almost) 6 months may not end up being too bad come the end of 12 months. As you are 5 months ahead of me, I would be happy if you would share your experience on here too? |
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puddleduck
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Post by puddleduck on Jan 29, 2018 19:18:58 GMT
I knew I wasn't quite talking to myself as I can see the view count going up!
The 0.95% is only paid if you make a profit and if you make less than 1.8% the fees go down (If I understand it correctly, Goji will never make more than you from your money?).
I will make a judgement on the fees etc. after the first year. I think with IFISA being very new, I choose Goji because the founder appears to be a big part of the setup of IFISA. If he can't get it right, who can?
Whether the 0.95% is worth it to gain access to some of the BH websites, I will let you know in due course! I think pom and littleoldlady on here are also trying out Goji and they are a bit further on in their investment. Would be interesting to see what their take is so far.
Hi puddleduck , skint4achange Thanks both for the feedback. That's correct skint4achange , fundamentally while the overall fees are set 0.95%, Goji’s fee will never exceed investor returns. There are lots of details around this on our FAQs page too so please feel free to have a look. puddleduck , you may be aware already but just for clarity the 5% target return is after fees and bad debts. Our first 12-month bond matured this month and achieved just over 6% after fees and bad debts. I hope this helps clarify in more detail the fees and target return position but please feel free as ever to keep feeding back here or directly to us on customersupport@goji.investments! Many thanks Michal Hi Michal Thanks for the reply - my question isn't in the FAQ (and it probably isn't a FAQ..) but one of the issues I see in P2P is over-exposure to certain borrowers - for example borrowers may have multiple loans under various Ltd companies, SPVs etc etc and have many loans with multiple platforms. Are you screening for this sort of thing in your selection of loans on the platforms you cover? To crystalise my question - do you have any mechanism to avoid over-exposure to borrowers who borrow from multiple platforms? Is this something that has been considered? Thanks
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Jan 30, 2018 11:58:40 GMT
Just had my first annoying thing from Goji!!
When I first went to open my Goji IFISA I noticed that there had been offers of a free £50 investment if you invested £5,000 and £100 if you invested £10,000. I emailed to ask them if the offer was still open to which I was told that the offer was no longer available.
Guess what? 1 month after opening my IFISA, Goji are now offering the same offer again!
I guess I need to work on my timing, or shop around a bit more when I open my next IFISA! Chuck another £10k in then😁 Go on! You know you want to.
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Post by skint4achange on Jan 30, 2018 12:26:47 GMT
Just had my first annoying thing from Goji!!
When I first went to open my Goji IFISA I noticed that there had been offers of a free £50 investment if you invested £5,000 and £100 if you invested £10,000. I emailed to ask them if the offer was still open to which I was told that the offer was no longer available.
Guess what? 1 month after opening my IFISA, Goji are now offering the same offer again!
I guess I need to work on my timing, or shop around a bit more when I open my next IFISA! Chuck another £10k in then😁 Go on! You know you want to. I can't. Have used all this years allowance. However, am thinking of opening an account in my wife's name and then transferring in part of her last years allowance?? Just need to hold back a bit and see how the first £10k performs.
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). However, I didn't need to worry as the day before the bond run was due to take place (I.e. This morning) I received a telephone call from Michal at Goji to inform me that with my current settings I would not be included in the bond run!! Wow! I don't think I have ever had a P2P platform call me to tell me that my investment is not going to take place!
