Robo-adviser ETFmatic has launched a rewards programme that could see clients getting fee-free investments if they refer other people.
The company said it could offer seven months for free in some cases for those who invite three friends who fund their portfolios, as well as becoming a beta user and engaging in other offers.
ETFmatic charges 0.48 per cent or 0.29 per cent depending on the size of portfolio.
The company also offers reward points to those who carry out certain tasks before opening an account, which can be exchanged for free fees. These include watching videos, reading a whitepaper and connecting a LinkedIn account.
The company said: "We pride ourselves that we are one of the most competitive offerings on the market. However, we actually go a lot further to reduce our fees for our clients. In fact, almost every month we provide you with an opportunity to do so.
"And although one can argue there is no free lunch in life, the only thing that is required (the only cost to bear) is simply to pay attention to our weekly updates."
On top of the investment management fees there will be the total expense ratios (TERs) of the ETFs the company invests in, which ranges from 0.12 per cent to 0.14 per cent, but will change depending on the asset allocation.
The highest possible TER is 0.25 per cent and the lowest TER is 0.07 per cent.
Raj Patel, from Blue Wealth, said the idea was interesting but said there were questions to be asked. "Is this a gift you’re giving, this free month of fees," he said. "Does it have to be registered?"
