Not everyone wants, or can afford, a traditional financial adviser. Digital advice is still quite new but there are growing numbers of services which ask you lots of questions online, turn the complicated handle of sums and give you your options in the comfort of your own home.
The benefits are that it is relatively cheap, you can’t get patronised or made to feel stupid by a computer and you can wear a tracksuit in the process.
What is it?
A relatively new option in the world of advice, Digital Advice, is the half-way house between traditional financial advice and doing it yourself. Not everyone wants or can afford the traditional route so that’s when Digital steps in.
Don’t be fooled by the name, many Digital Advice providers have humans to help you through the journey, give you holistic advice or provide you with reassurance about your retirement plan. There are many different focusses to choose from, ranging from budgeting and getting started, through to your retirement and ensuring you won’t run out of money.
Check out our Digital Advice table below to find which provider suits you best.
- People who want to outsource decision-making
- People who like the convenience of a digital service
- People who want advice to plan for a decent retirement at low-cost
Not good for:
- People with fiddly bits needing bespoke treatment
- People who want an ongoing relationship with a known individual
- Inheritance tax, trusts, estate planning and tax advice (for example)
Help me choose
This is a new table, a pilot, a fresh venture. We have rated these offerings based on our view, pricing, service (online and human), and the websites. Please do leave a review - these will help us to tell a more representative story and refine our view.
Data correct as at March 2021.
What do the orange buttons mean?
As our site costs grow we’ve switched on some 'introducer revenues'.
In the interests of transparency, if you see an orange button, this tells you we either get paid a fee if you click through and open an account, or we have a sponsorship arrangement in place. This has no impact on our reviews or ratings, nor on the fees you pay.
If you simply want a ready-made investment ISA, you could consider a robo adviser – these will mostly NOT be regulated advice but they will ask you a few simple questions and suggest a ready-made ISA with a decent supporting app.
If you want a more bespoke service but without the relatively high ongoing % charges every year, have a look at the traditional financial advisers on our Find an Adviser directory and choose the ‘Fixed Fee’ filter.