Is Barclays Smart Investor good for investing?
Independent review by Boring Money
Investment expert's opinion
Barclays is now probably the best high street bank for those who want to manage and see their investment ISAs alongside their current accounts, benefitting from a single app and log-in. Charges are generally pretty reasonable and changes last year made this a better option for beginners and those with smaller amounts. Pension still needs an upgrade.
*This is the view of investment expert Holly Mackay based on her first-hand customer experience as a test account holder. This does not constitute regulated advice. You can read more about Holly's investments here.
Who is Barclays Smart Investor?
Barclays Smart Investor is an investment platform owned by Barclays, one of the biggest and best-known banks in the UK. The bank itself has a long history with origins dating all the way back to goldsmith banking in the City of London in 1690. Today, Barclays provides both personal and business banking services to millions of customers across the country. Its Smart Investor platform offers a range of products that include Stocks & Shares ISAs and personal pensions (SIPPs), which you can use to invest and achieve your financial goals, plus a wide selection of investments to choose from.
Who is Barclays Smart Investor good for?
Barclays Smart Investor is a good choice for investors looking to build a portfolio of funds and shares, as well as those who want to collate multiple financial products under one roof. It has the largest range of investment options from any high street bank in the UK. It’s not the easiest for beginners to navigate, but the supporting educational content is good. Not the best choice for pensions though and those looking to open a SIPP will find more competitive solutions elsewhere on the market.
Pros and cons
Investments
Smart Investor offers the widest range of investment options out of all the UK banks. Users can access over 8,000 investment options, including:
The ready-made investments are pre-packaged funds made up of a mix of investments, typically shares and bonds, designed to reflect your tolerance for risk.
Smart Investors’ range of ready-made investments are called Defensive, Cautious, Balanced, Growth and Adventurous.
Accounts
Stocks & Shares ISA | Pension (SIPP) | General Investment Account (GIA) | Lifetime ISA | Junior ISA |
✔ | ✔ | ✔ | ✘ | ✘ |
Fees and charges
Barclays Smart Investor fees differ depending on which account you have, what you invest in, and the overall value of your investments.
Smart Investor platform fees
This is the fee that Barclays charge customers for having a Smart Investor account. It is a percentage fee based on portfolio size.
Account Type | Portfolio Size | Annual Platform Fee |
Stocks & Shares ISA, GIA, SIPP* | Up to £200,000 | 0.25% |
Stocks & Shares ISA, GIA, SIPP* | £200,000+ | 0.05% |
*Pensions (SIPPs) have an additional £150 annual administration charge.
Smart Investor trading fees
There are separate fees for when you trade investments in a Smart Investor account. These differ depending on the type of investment you are dealing.
Investment Type | Trading Fee |
Funds | Free |
Listed Securities (eg Shares, ETFs, Investment Trusts) | £6 per transaction |
Automated regular investing plans are free to set up and reduce the cost of dealing listed securities. This could be suitable for those buying the same investments every month.
There is an additional 1.0% foreign exchange fee for purchasing international equities, which reduces slightly as trade size increases.
See how much it would cost you
Use the handy calculator below to calculate the cost of an account. Just select which type of account you want to use, type in the amount you want to invest and - hey presto! - our calculator will give you an estimate of how much it costs. Please note estimated fees are calculated excluding promotional offers.
Step 1. Select account type.
Step 2. Enter the amount you are looking to invest.
Estimated fees:
£2.50
+ Investment fees
Cost shown is the administration fee only. There may be additional third-party investment or fund fees, which depend entirely on what you pick. Expect these to add about 0.25% to 1% a year to the total cost.
The boring disclaimer bit
This is a free resource for our readers. We’ve tried really hard to ensure that these calculations are correct and can promise you there’s no monkey business or favouritism going on. But please don’t rely on these calculations without double checking yourself. If you do think you have seen an error please contact community@boringmoney.co.uk and help us to make this better. More information on the assumptions we've used to calculate these investment fees can be found here.
Customer reviews
Barclays is widely praised for its reliable and knowledgeable customer service, user-friendly platform, and comprehensive investment options. Customers appreciate the ease of navigating the platform and the helpful insights and tools provided for managing investments. The company's long-standing reputation and trustworthiness are also highlighted.
However, some areas for improvement include better interest rates, more personalised financial tools, and enhanced communication. Despite these suggestions, the overall sentiment is positive, with customers valuing Barclays' innovative approach and strong customer support.
Your opinion matters!
Leave a review for Barclays
01 December 2024
Need to improve the technological side as other investment accounts are years ahead
01 December 2024
Easy to use with helpful staff who give good advice
01 December 2024
There customer service is top notch
Most asked questions
Is Barclays safe?
Barclays is regulated by the Financial Conduct Authority (FCA). If a fund fails due to fraud or mismanagement, you may be eligible for compensation from the Financial Services Compensation Scheme (FSCS). The FSCS protection is capped at £85,000 per person, per fund manager (not per individual fund). However, if your investments lose value due to normal market conditions or your investment choices, this is part of the normal risk of investing and is not covered by FSCS compensation.
Who owns Barclays Smart Investor?
Barclays Smart Investor is part of Barclays plc, a British-based multinational bank headquartered in London. Barclays is listed on the London Stock Exchange and is part of the FTSE 100 index, which represents the 100 largest companies (by market cap) listed in the UK.
Does Barclays Smart Investor have an app?
Yes, Barclays customers can view and manage their Smart Investor accounts from the Barclays mobile app. You can download it from the Google Play Store and App Store. Note that you must have a Barclays Current Account, a mobile number and be aged 16 or over to use the app.
Glossary
Not 100% sure you understand something we’ve written in this review?
Discover jargon-free definitions of the most common words and technical terms used in the world of investing.
As is always the case with investing, your capital is at risk. The value of your portfolio can go down as well as up and you may get back less than you invest. Tax treatment depends on your individual circumstances and may change in the future.
All information in this review correct as at 01/01/2024.
