Holly Mckay
Holly MackayFounder and CEO
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    Home • Digital Advice
    07 Oct 2021

    MyEva

    MyEva

    MyEva

    Find out more about MyEva's digital advice offering

    Visit MyEva's website

    What we say

    How our rating works
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    • MyEva is part of Wealth Wizards and is regulated to give financial guidance and advice. Employers buy access for their employees, who can diagnose their financial health and seek solutions/guidance on a range of financial topics.

    • Any financial decisions (e.g. opting to start investing) and associated charges are incurred by the employee. Investment fees are 0.41% all in for the platform, transaction costs and ongoing charge figures. MyEva also charge £50 annually for their ongoing review feature, however this is optional.

    • The digital tool gives your finances a health score by assessing your debt, spending habits, savings and income, before presenting you with a task list and supporting information to help you tackle any financial issues step by step.

    • MyEva also focuses on building savings, investing money and utilising your pension, with handy tools that allow users to better visualise their future financial state.

    • There is also a Personal Advice Team who can support you for the more complex areas of advice – the costs vary depending on the options you select. New Investment Planning costs £200 for the report and personal recommendation.

    Fees and charges

    Investment Fee

    Ongoing Review Charge (optional)

    0.41%

    £50 per year

    Examples:

    £10,000 portfolio: £41 (total)

    £100,000 portfolio: £410 (total)

    Customer case study

    Here is an example of how MyEva may help you.

    Meet George, 29, starting off with his financial journey. He’s after reassurance and setting some good foundations for his finances. MyEva, a tool produced by Wealth Wizards, helped him do exactly that.

    George’s story

    George wants to know where to start. How does he start saving for his first property? Is he doing things right?

    George is 29, working at Beans and Co and earns £35,000 a year. He has never really thought about his finances and has never had any financial help.

    I knew that I should start saving for my first property, but I didn’t know where to start. Using MyEva gave me the reassurance and confidence to begin my financial journey, and after going through its simple financial health check, I began ticking things off my to-do list.

    GeorgeAged 29

    The online financial expert helped George as follows:

    After receiving his financial health check score, George began working through his financial essentials, goals, and the tools available in MyEva.

    Saving into a pension. George used the Pension Contributions tool to work out the amount he may want in retirement and how far off he currently is. The tool showed him the state pension he could receive, how much he contributes towards his pension - versus his employer, and the tax relief he should be receiving.

    He read through the handy guide to buying your first home, which took about 10 minutes. It was a great starting point to show George what’s to come and helped him understand the different types of mortgages he could consider in the future. As a result, George now knows the first steps he needs to take to achieve his goal of buying a home.

    He also created a budget and took on board the useful hints and tips, which helped him reduce his day-to-day spending and build a better saving habit for his property purchase.

    After using MyEva and its various tools and calculators, George decided to take up its offer of a complimentary call with one of its financial advisers. Following this, he continued to explore MyEva at his leisure, gaining encouragement and subsequently setting up a solid plan to save for his first home.

    Customer reviews

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    Important stuffHolly and the team have worked in the finance industry for many years but we are not regulated to give you personal financial advice. For every story on this website about a good investment, or something which went up by 10% or made someone £200, we could also share a story about a bad investment, something which fell in value or lost someone £200. We aim to provide general information and pointers – and btw we are totally agnostic about which providers you might pick – but if you have complex affairs, want personalised advice or need specific recommendations, please look at advice pages and see if regulated digital or traditional financial advice would be the best solution for your needs. Boring Money Ltd is a limited company registered in England and Wales under registration number 09459832 and we have our registered office at 10 Lower Thames Street, London, England, EC3R 6AF.
    Risk warningAs is always the case with investing, your capital is at risk. The value of your portfolio can go down as well as up and you may get back less than you invest. Tax treatment depends on your individual circumstances and may change in the future.
    Boring Money Ltd is a limited company registered in England and Wales under registration number 09459832 and we have our registered office at 10 Lower Thames Street, London, England, EC3R 6AF.
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