A simple enough

Risk questionnaire will allocate you into the right mix of investments. Good for those who want help and are happy with few investment choices.

What we say

Holly's View

Holly has accounts with all the providers on our website and independently reviews all of them.

Moneyfarm is a decent choice for those who want someone to do it all for them. A simple questionnaire will identify what sort of an investor you are and then does all the fiddly stuff for you. They also check in every year to make sure that this profile is still the one for you. I find things a bit lacking if you want to dig into any more detail – there isn’t a lot to be had. For example, I couldn’t find out my % allocation to the US. Not the most complex thing to want to know.

Holly MackayHolly Mackay
Holly MackayHolly Mackay

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Overall Summary

Best Buy 2021

  • Best Buy for Digital ISA

  • Best Buy for Customer Service

Ease of use

Moneyfarm has a really nice and easy to digest explanation of what they will do for a customer and what the process will be. Navigation of the site is relatively easy and you can now see the full asset allocation of each portfolio depending on your investment account – great transparency from the off! Much of the information surrounding product, risk and cost is really well explained.

Mobile & Apps

App has full functionality with no need to revert to the website.

Generally, the app is really nice and easy to use, however it is misleading that performance gains are given since the inception of the portfolio and not when you purchased it!

Articles link to the website seamlessly and you can speak to "investment consultants" directly through the app which is a welcoming feature.

Behind the scenes

The scheme that allows you to refer a refer a friend to Moneyfarm and both parties get £5,000 worth of your investments managed free of charge for one year is a nice touch for the novice investor who may want to test the waters.

The advice centre could have more substance – once you’ve been given your recommended risk rating and are invested there’s not a lot more it can offer.

Investment Choice

Products

  • Stocks and Shares ISA

  • Junior ISA

  • Lifetime ISA

  • Investment Account

  • Pension

Investment help

  • Robo advice / ready-made portfolios

The 'Geeky' Details

Provider details

Moneyfarm is an interesting option for those who don't know where to start and want some advice along the way. People have nothing to lose by having a go at the questionnaire? Unlike some, these guys are regulated to give investment advice so do take personal circumstances into consideration. You can't pick your own shares or funds so you get one of their own-brand 'ready meals' only.

This group started life in Italy and launched in the UK in 2016 - gaining traction here ever since. Charges are tiered, starting at around 1% for the smallest portfolios. For a £10,000 portfolio, costs would be roughly £104 per year.

Important Facts & Figures

Provider Size:

The platform administers over £1b across Europe.

Minimum amounts:

£100 per month, with a £1500 initial deposit
£5000 minimum lump-sum investment

Moneyfarm