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    Is there an article or guide here that shows the ideal Robo-adviser for different balances?

    05 April 2022

    Question by Jen

    Is there an article or guide here that shows the ideal Robo-adviser for different balances? I keep reading that Wealthify is not good for larger balances but then what is? and what is a large balance? 0-10k? 10k-50k? Over 50k? Over 100k?

    Answered by

    Hi Jen,

    Yes, there is. I found this link on Boring Money which will help you to compare costs on platform for any amount: https://www.boringmoney.co.uk/isas-pensions/isas-pensions/

    Generally speaking, when you pick a robot-adviser, you want to be happy with the platform fees, ease and functionality of the app or website, responsive customer service and investment fund choices (as wide as possible for your investing needs).

    I had a quick glance at Wealthify and their fee of 0.6% is quite high - as compared to the average of about 0.3% or 0.35%. Mr Monevator also has a good cost comparison of platforms on his blog.

    Hope that helps,
    Cleona

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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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