as of 27/08/2020 at 2:59 pm
The biggest of the UK 'robo advisers' with over £2bn under management today. Suits people who don't know where to start or who are not interested in managing their investments on an ongoing basis.
You choose between 10 different options according to your financial situation and risk attitude and get plopped into a ready-made portfolio of lots of different investments from across the globe. You can only use their portfolios – you can’t pick your own funds or shares.
You can choose their low cost automated 'fixed allocation portfolios' or pay a bit more if you'd like their team to manage your investments in a more hands-on way. They also offer a range of socially responsible portfolios which are managed by their team. The managed portfolios cost around 1% per year, or £10 on every £1,000. Socially responsible portfolios cost around 1.13%, or £11.30 on £1,000 invested.
A nice digital option which will suit busy people on-the-go. With 8 years under their belt, by far the most experienced of the UK 'robo advisers'.
The largest UK robo-adviser, with over £2bn invested
|Minimum amounts:||£500 minimum initial amount for an ISA, pension or investment account.
£100 minimum for a Lifetime ISA or Junior ISA
"Hi, I'm trying to choose an 80/20 low cost tracker fund to transfer my pension to, as I'm currently paying 1% fees to my provider which I want to save on. Does the performance of different tracker funds vary a lot (e.g. between PensionBee, Nutmeg, AJ Bell) and how do I compare their track records? Many thanks, Vivienne"
22/07/2020Read our reply
"I'm a 48 year old with minimal pensions. I would like to start a new pension to save for the next 12 years. I've already set up a Stocks & Shares ISA with Nutmeg, so would like to start my pension with another provider. I know little about investments so would like to use a company that has ready made funds based on risk assessment. Which would you recommend?"
30/05/2019Read our reply
"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?"
16/04/2019Read our reply