What we say
Holly's View
Holly has accounts with all the providers on our website and independently reviews all of them.
Easy to use and engaging information. Bestinvest has spent time and effort on their fund research pages and the revised journey enables improved comparison as well as helpful, well-signposted investment details and information. The service is steadily improving. 0.4% a year for ISA charges is at the high end and relatively expensive without any clear differentiation or obvious reason as to why this is worth it.
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Overall Summary
Ease of use
The site has been recently upgraded and it is now much easier to navigate around, creating a smoother experience for both managing a portfolio as well as reading up on the markets and getting tips and ideas on what funds to pick. The integration of small video clips into some of the pages is a nice touch and gives the website a slightly more modern feel.
Mobile & Apps
No mobile app currently exists but an app is expected in 2022.
Behind the scenes
Bestinvest is fairly straightforward to use although some aspects of the site feel a bit dated. There are a few different login options that may confuse users, however once you are in, it is much clearer to navigate. A lot of work has been done on the display of research and information and this is one of the most helpful sites around for those who want a few tips and pointers on which funds or investments to choose.
This service will suit the all-round investor - the purist share trader won’t like it and the novice will feel a bit at sea. But for those who want to do a bit of reading, and manage their own portfolio, without needing to be an expert, it's a good option.
Investment Choice
Products
Stocks and Shares ISA
Junior ISA
Investment Account
Pension
Investments available
Own brand funds
Funds from other groups
Stocks and shares
Investment help
Financial coaching
Ready-made portfolios
Includes a shortlist of investments
Pick your own funds
Pick your own shares
The 'Geeky' Details
Provider details
Bestinvest is a decent online investment platform which has recently revamped its pricing and the breadth of its offering. The website has plenty of guides and investment research available, especially when logged in.
As part of its revamp, Bestinvest have introduced free financial coaching for its users, and is currently the only platform in the UK to offer this service. This allows users to get help from a qualified financial planner on things like achieving your investment goals and fine-tuning your strategy.
For those looking for a personalised investment recommendation, Bestinvest (who are owned by a much larger advisory business) has reduced the fees of its one-off advice packages. The “Investing for your goals” advice costs £295 and a “Portfolio health check” is now £495.
Bestinvest has also halved its platform fee of 0.4% to 0.2% for all money held in its own-brand ready-made portfolios. These portfolios are categorised into two types: Smart Portfolios and Expert Portfolios.
The Smart Portfolios were released in January 2022 and are focused on cost efficiency. These have an active asset allocation on top of predominantly passive underlying investments and have an all-in cost of around 0.6%, which is £6for every £1000 invested. The Expert portfolios, which are actively managed, are more established and more expensive, and also have a couple of ESG options.
The platform offers a wide range of investments, with over 2500 options of funds, shares, investment trusts and ETFs from a wide range of groups. These options are supported by a fair bit of technical information and research, so it’s more likely to suit those that are more experienced. One of the novel research guides named “Spot the Dog” helps investors identify some of the worst-performing funds in different sectors.
With a 0.4% service fee (0.2% for investments in its own-brand portfolios), it’s slightly pricey for smaller portfolios. However, there are no fund dealing charges, so for investors putting small amounts into a few different funds on a monthly basis it is pretty low cost.
Share dealing charges have also recently dropped to £4.95 per trade, which is significantly cheaper than mainstream competitors like AJ Bell and Hargreaves Lansdown. On the flip side, there is no access to US shares, so for those looking to dabble into foreign markets, this is not the place for you.
Important Facts & Figures
Provider Size:
Mid-sized investment platform administering around £3b. Owned by Tilney Group who are established in the investment management industry.
Minimum amounts:
£50 for most funds