#2 – Kernel
Kernel is my second favourite app; it might just be the easiest app of the lot to set up and use.
The design is clean, process simple, and it’s beginner-friendly.
But the catch is that (up until recently) you were limited to Kernel’s own funds. You couldn’t invest in lots of other managed funds (like you can with Sharesies).
So I’ve always thought of Kernel as a fund manager with a good app rather than a pure investment app.
Having said that, they have recently released a feature where you can invest in US shares and exchange traded funds (ETFs).
But the range of investments is more limited than some of the other apps. You can’t buy NZ or Aussie shares, and you won’t find other fund managers like Milford or Smartshares through Kernel.
But, Kernel is still my second favourite app because of what it’s like when you first log in.
Most platforms make you top up your wallet before you can invest. And it can take a few hours (or even up to a few days) for you to transfer money from your own bank account into your app wallet.
That means it can take a day or two to properly set up your account (with other apps).
Kernel flips that around: you choose what you want to invest in, and then it prompts you to pay.
That small tweak makes it feel more like online shopping than a confusing financial transaction – a real win for beginners.
