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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

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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 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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"I am 47 years old and up to this point I have ensured I have sufficient cash saved and regularly overpay my mortgage. I also have a company pension into which I pay additional voluntary contributions. I would now like to open an investment ISA for growth, with an initial figure of about £5000 and then about £250 per month (more when possible) for at least 10 years. I am tempted by the Vanguard LifeStrategy 80 due to the low fees and strong reputation. I would also consider investing in a couple of other Vanguard funds as well. Would this be advisable or relatively unnecessary, if I'm already investing in the LifeStrategy fund? I have also been looking with interest at a number of other companies including, Nutmeg, Wealthify, IG and AJ Bell Youinvest. Is there any provider that would stand above the others as most suitable in my circumstances? Whilst I would like my investment to start working without too much input from me, I would be happy to get more involved as my knowledge and understanding increase. Any insight or opinions you may have would be appreciated. Thanks."

Matt, South Yorkshire

11/03/2019

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