as of 04/03/2019 at 11:00 am
The new Digital Investment Adviser service is streets better than usual bank fare. Built in conjunction with a psychologist, there are some nice 'game-type' questions about risk, loss and time which will match potential investors to an investment portfolio. It's clear and easy enough to use. Experienced investors won't like it as it leads to in-house Santander funds only. Accessed on same page as online banking - convenient for Santander's retail bank clients.
We score each provider on about 20 different criteria including cost, service, website, functionality, customer feedback and our experience of the service. All overseen by our PhD gonk!
Beginner Investor
Access via online banking
Simplified options available
Not the best website
Don’t want to take our word for it? We ask existing customers and investors to rate their experience with the company – based on value for money, overall service and the website. We need at least 20 customer reviews before we add anyone to our Best Buys list.
Based on 1 reviews
Stocks and Shares ISA
Junior ISA
Investment Account
Own brand funds
Funds from other groups
Robo advice / ready-made portfolios
Pick your own funds
Santander Digital Adviser is the bank's new service and is regulated financial advice delivered online for a £20 advice fee.
Lots of questions test how you feel about risk and how you want your investments to behave. There's a strong behavioural finance slant.
At the end of the questionnaire you can buy a suitability report for £20 which will tell you how to invest and start.
This option will lead to a range of Santander 'multi-asset funds' and will not suit those looking for broader fund choice or the ability to trade shares. The older Investment Hub offers access to third-party funds although it's not the best option on the market if you're after full choice.
Costs are £20 for the advice, the platform or administration fee costs 0.35% a year and then the underlying funds cost from 0.34% a year to 0.49% a year, depending on the mix of assets contained. Expect to pay about 0.8% a year all-in plus the initial outlay of £20 for the suitability report.
| Provider Size: | New investment service from the high street bank. Clearly a major global player. |
| Minimum amounts: | £20 minimum monthly investment after investing a £100 lump sum £500 minimum investment if not investing monthly |
| 12 month indicative performance: | A medium risk fund returned 8.4% in 2017, after charges. |
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