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Wealthsimple Review

as of 15/04/2019 at 8:08 am

Holly's View

Good for the less confident after a non-traditional approach. Wealthsimple is simple to use – there is a distinct lack of jargon, processes are smooth, and the app is simple, clear and useful. Use of celebrities in blogs will polarise users and some of the slicker website features cross over into ‘annoying’. Will suit those happy with a limited pre-packaged set of investment options – share traders need not apply!

Our Rating

Recommended For

Beginner Investor

In a nutshell

Really easy to use

Investments managed for you

Good mobile app

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Your overall rating

Based on 6 reviews

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Sponsored by

Wealthsimple

Wealthsimple is a whole new kind of investing service. We combine user-friendly digital tools and personal investment advice to help people build smart portfolios to achieve their financial goals - whether that's saving to buy a home, investing for retirement or building a rainy day fund.

With a £1 minimum to get started, our mission is to make investing low-cost and accessible to anyone, no matter their age or net worth. Over 65,000 people globally have trusted Wealthsimple with £1.4 billion of their savings to date.

 

Socially Responsible Investing

Get the same award-winning Wealthsimple features - smart technology blended with human advice - while investing in companies that further socially responsible initiatives starting at £5,000. We'll help you build a custom Socially Responsible Investing (SRI) portfolio designed to meet your financial goals in under 5 minutes. You'll be invested in a range of global SRI funds, so you can be well-diversified while helping build the world you want.

Real and Honest Stories about Money

Wealthsimple stands out from the crowd with exceptional product design and engaging creative content that aims to humanise the world of money and investing. Our Magazine unpacks difficult financial decisions, uses unique subcultures to help people understand the way economies work, and talks to interesting people (like Jon Hamm) about their life-long relationship with money.

More about Wealthsimple

What to Expect

Investment Choice

Products

Stocks and Shares ISA

Junior ISA

Investment Account

Pension

Investments available

Ethical investments

Chosen for you

Investment help

Robo advice / ready-made portfolios

The 'Geeky' Details

Provider details

Wealthsimple recently launched in the UK after a few years running in Canada and the US. As with many other robo-advisers, you answer a few questions and get a portfolio that's suitable. You therefore don't get to pick your own individual funds or shares. Wealthsimple is also offering socially responsible investing, with three portfolios which invest into companies that ‘further socially responsible initiatives’, as well as a new ethical portfolio. 

It will suit less confident investors and those that want someone else to manage their money. 

Fees start off at 0.7% for Wealthsimple, plus around 0.2% for the underlying investments they use. Those with more than £100,000 invested pay 0.5% and get access to investment planning and airline lounges. 

Important Facts & Figures

Provider Size:

New robo-adviser, also serving clients in Canada and the US

Minimum amounts: £0 minimum monthly amount
£0 minimum initial amount
12 month indicative performance:

Wealthsimple's portfolios have less than one year track record.

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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"I'm 24 and would like to begin investing. The maximum I would be able to invest at the moment is £25 - £50/month. I have a house, no debts and a steady job. It's quite low pay at the moment, but it will increase in the future once I'm qualified. I am looking to invest for 5 years minimum, not for anything in particular, purely for growth. I have been reading your blog and would like to know your thoughts. Am I better off using a robo advisor such as Wealthify/Wealthsimple or a fund such as Vanguard LifeStrategy?"

Amanda, Greater London

06/08/2018

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