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Aviva Review

as of 26/02/2019 at 5:36 pm

Holly's View

I’m a bit suss on the old-school big brand names and was surprised to find the online experience pretty good. It works pretty well and is simple enough to navigate. It’s also fairly easy to find your way into a ready-packaged up investment option so suits beginners. Very yellow. Bit dull. Safe. Reliable.

Our Rating

Recommended For

Beginner Investor

In a nutshell

Big, trusted company

Simple pre-packaged options

Bland but safe

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Your overall rating

Based on 28 reviews

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What to Expect

Investment Choice

Products

Stocks and Shares ISA

Investment Account

Pension

Investments available

Own brand funds

Funds from other groups

Investment help

Robo advice / ready-made portfolios

Includes a shortlist of investments

Pick your own funds

The 'Geeky' Details

Provider details

A big household name, Aviva offers easy entry with a £50 per month minimum. The website is nice and simple and offers a shortlist of 4 ‘ready-made’ ISA funds which spread your money around lots of different shares and investments. Ballpark costs for an ISA, including fund charges, are 0.75% which is £7.50 a year on £1,000.

For those that want to pick their own investments, there is a much wider range of funds available, but you can’t buy individual company shares.

Although it's quite a bland service and experience, it's from a massive solid brand which will comfort some. And it is fairly straightforward to park your money into a solution which is managed and maintained for you on an ongoing basis at an OK fee.

Important Facts & Figures

Provider Size:

Large insurance and pension firm / huge global brand

Minimum amounts: £50 minimum monthly amount
£500 minimum initial amount
12 month indicative performance:

A medium-high risk fund returned 9.0% in 2017, after charges.

Your Questions

"I have had a long and successful career, and intend to retire in autumn, aged 60. I have earned strong money, but being risk-averse, I have been content to let it mount up largely as cash, plus a pension (along with some smaller Stocks & Shares ISAs etc). I now find myself with £1 million in a low-cost Aviva pension, plus £2.5 million in cash. It is my hope to leave my pension untouched, and pass it over as part of inheritance tax planning. I have one son and a new grandson, who I would like to leave as comfortable as possible when I'm gone, so would like to balance my risk-adverse character with making my money work harder for us all. I have talked with several IFAs, but given my risk/return appetite, their fees seem to eat up most of the benefit they offer over my current position. I guess my question is, do IFAs normally bring sufficient benefit to low risk strategies, to make it worthwhile or am I better off cautiously investing myself, and saving the fees? Many thanks, Stephen"

Stephen, North Yorkshire

01/04/2019

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"I have a rough total of £30,000 in two separate company pensions from previous employers. For the last 12 years I have not contributed to a pension. I am now 44 and know I need to put money into one. I'm not financially aware and the robo providers sound tempting but, obviously, I want the possibility for the best return at medium risk. I aim to invest about another £30k immediately. Your Q2 2018 results update showed Nutmeg’s Portfolio 10 as returning 7.92%, but the Best Buys page for Nutmeg says it returned -5.9% in 2018 - I read at as a 5.9% loss. Please can you advise why the figures are so different? I've also heard that things like Vanguard Lifestrategy 60 are also a good choice but they don't have a SIPP - but then I don't know if I need a SIPP - I just want a good, solid pension. Many thanks."

Dave, West Yorkshire

26/03/2019

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"Hi. Trying to get a bit more pro-active with my pension. I have just over 100k in an Aviva pension mixed investment 40-85% fund with a 0.6% charge. If the money had been in an online managed fund like Nutmeg for example, is it reasonable to assume that as the markets fell last year the funds would have been managed in real(ish) time to limit the damage and therefore not suffer the loss the Aviva fund did? If so, is it therefore a no-brainer to transfer my pension to an online managed pension like Nutmeg (0.35% charge over 100k) or is it not quite as simple as that?! Thanks for your time"

David, London

08/02/2019

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