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Wealthify Review

as of 26/02/2019 at 9:47 am

Holly's View

This is a nice simple journey for someone fed up with the traditional torrents of jargon and looking for something a bit more 2019! There are clear explanations and projections although you will need to self-select one of 5 options – there’s no questionnaire to guide you. Not for enthusiastic hobbyist investors or share traders but less experienced investors tend to give this the thumbs-up.

Our Rating

Recommended For

Beginner Investor

In a nutshell

Really easy to use

Invest from only £1

Great website & design

You Say

Your overall rating

Based on 42 reviews

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They Say

Sponsored by

Wealthify

Investing needn’t be complicated. At Wealthify we build you an investment plan and manage it on your behalf, every day. Get started in less than ten minutes and with as much or as little as you like. Our experts will select a broad range of investments from across the globe to suit your chosen level of risk – whether you’re cautious, adventurous, or somewhere in between. Our award-winning service, smart design and straightforward fees make investing easy and affordable for everyone.

Remember that with investing, your money can go down as well as up and you could get back less than you put in.

Why Wealthify

Whatever your long-term financial goals may be – a nest egg for your kids, helping towards the cost of university, or retirement planning – investing can be a great way to help achieve them. Wealthify is for everyone – our fees and performance are completely clear, you can monitor your account 24/7 on any digital device and your money is never locked in – so you can invest with confidence, no matter what your level of experience.

Expertly-managed investments

Your money is invested in up to 20 funds that contain things like shares, bonds, property and commodities (e.g. precious metals, energy and agriculture). Our experienced team of investment professionals constantly monitor financial markets and will adjust the mix of investments in your Plan depending on how they perform. So, while we’re busy making your money work harder, you can get on with the things you enjoy.

More about Wealthify

What to Expect

Investment Choice

Products

Stocks and Shares ISA

Junior ISA

Investment Account

Investments available

Ethical investments

Chosen for you

Investment help

Robo advice / ready-made portfolios

The 'Geeky' Details

Provider details

Wealthify is a new-ish robo-adviser, that lets you invest as little as £1. Aviva recently bought a majority stake, so it has a big household name as a shareholder. Our testing shows that this really appeals to people who are fed up with the status quo and want to see something a bit different.

Investors are asked about their goal (they can select from a list, or choose freely), how much they want to invest upfront, how long for and whether they want to invest monthly. There are five different investment portfolios spread around the world and amongst different sorts of investments – you don't pick your own funds and shares.

Cost is around 1% per year, including Wealthify's fee and the cost of the underlying investments.

Important Facts & Figures

Provider Size:

New robo-adviser, though Aviva has a big stake

Minimum amounts: £1 minimum monthly amount
£1 minimum initial amount
12 month indicative performance:

A medium risk portfolio returned 6.5% in 2017, after charges.

Your Questions

"I'm a 30 year old woman earning a reasonable salary, but mainly have a relatively low cost lifestyle (no kids etc.). I have built up savings of almost £8,000 over the past 18 months and want to start investing. I like the idea of using a robo-investor like Wealthify, but I'm not sure if it's better to start with a Stocks and Shares ISA instead? I also plan on going travelling in the next 6-12 months, hence the savings, but want to start planning for my financial future as well. I could easily put up to £1000 in as a lump sum, and then between £50 - £150 pm for the next year, even if I travel I think this is achievable. So, Stocks and Shares ISA or Robo Advisor or both? Thanks"

Kate, London

29/04/2019

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"I am a beginner investor and would like to invest in a "socially responsible" Stocks & Shares ISA. I have looked into the Nutmeg and Wealthify funds, having found out about them through the Money Saving Expert website. Is there information about any other such providers on your website? And do you have any advice about how to compare the "socially responsible" criteria on the different funds?"

Joy, Glamorgan

16/04/2019

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"We have £100,000 to invest, which is in Premium Bonds at present . We need it as serious illness has changed our lives completely. We have been advised to invest in a Capital Investment Bond from Wesleyan, but fees seem high to me - 0.3% and 1.7% management and on-going advice. Also a Stocks and Shares ISA. I'm considering Wealthify or other online funds. Can you help? We can invest for income stream, as only money is a very small pension. Many thanks."

Melanie, London

25/03/2019

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