as of 26/02/2019 at 6:25 pm
One of the newer so-called 'robo advisers', Moneyfarm is an interesting option for those who don't know where to start and want some advice along the way. You get regulated advice, so after answering a few questions you get a portfolio that matches your needs. You can't pick your own shares or funds so you get one of their own-brand 'ready meals' only.
Still relatively new in the UK, this group started life in Italy and they are gaining traction here. Charges start at 1%, so £10 per year for a £1,000 portfolio.
New robo-adviser, also serving customers in Italy
£500 minimum investment
|12 month indicative performance:||
A medium risk portfolio returned 5.9% in 2017, after charges.
"Hi - Your site is very useful and informative. For the last 9 months I've drip fed just over £10,000 into a Moneyfarm Investment ISA (balanced/medium risk) just over 60% shares, it has been a very volatile year as you know. Moneyfarm seem to have done a good job of protecting my capital. I was down around £500 at the worst point which I have now recouped, however I haven't really made much in the way of gains, which I'm a bit disappointed about. I was wary about taking on too much risk, but now think I may have not taken on quite enough. I'm thinking about giving it 12 months to see how it goes. If I then wanted to, would I be able to transfer the whole lot to another platform (say Vanguard) where the fees are lower, and I might make a bit more profit? I know you're not allowed to give regulated advice - but I'm uncertain if I should transfer the whole lot in one go, or drip feed it into the new platform should I decide to move it. I would welcome whatever help you can give me. Regards, Robert"
14/03/2019Read our reply
"I’m new to investing and in my late 30's. I'm actually stuck in a dilemma whether to invest using DIY platforms like Interactive Investor, A J Bell or Hargreaves Lansdown OR invest using robo advisors like Nutmeg, Moneyfarm or Pensionbee. I have compared the fees and they are not significantly different. Do robo advisers have a better return rate? I can dedicate some time to DIY investing but not a significant amount of time. Please advise. Thank you."
Victor , Kent
14/01/2019Read our reply