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Wealthify Review

as of 24/05/2019 at 2:15 pm

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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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

"Hi! Another question for my most trusted money info site! I am thinking of setting up a SIPP. I currently have a workplace pension and a S&S ISA with Wealthify (also two previous workplace pensions, one of which was 6 years in the Met Police). I am trying to diversify my investments and spread the risk, which is what led me to thinking about a SIPP. I looked at AJ Bell. They look fine, but I'm nervous about doing my own investments, given that Wealthify does all that for me, so I don't really know where to begin. Are there SIPPs which do it for you? Or if not, should I continue investing in my previous workplace pension pot which is with Aviva? Or have I got the wrong end of the stick? Argggg, so many questions! Thanks!"

Holly, Sussex

03/07/2019

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"Hi. I am looking for a Junior ISA for my son and can't decide between a robo investor like Wealthify, or investing via Interactive Investor with an investment trust for my son's Junior ISA. I want to invest ethically and am happy to research investment trusts myself. The fees seem similar and both have fund managers. What would you do?"

Rick, Sussex

01/07/2019

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"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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