as of 30/10/2019 at 11:42 am
True Potential Investor offers straightforward options, guiding people through a few questions to determine their risk profile and help them to choose one of ten managed portfolios. You’re restricted to these portfolios – users can’t pick their own individual funds or shares. It's a good slick digital service with a decent app. We like it.
The investments they use are 'actively managed', which makes them a bit more expensive than some others. But if they do their job, they should return more (although that's not a certainty!). Costs are around 1.2% all-in, so about £12 per year on each £1,000.
The parent company – True Potential – is a significant group in the advice market, offering financial advice and providing technology to financial advisers.
New robo-adviser, though the parent company administers significant investments for financial advisers
£50 minimum initial amount
|12 month indicative performance:||
A medium risk portfolio (Balanced) returned 7.9% in 2017, after charges.
"I have about £100,000 invested in an ISA with Investec Click and Invest. They are closing their Click and Invest accounts and I have to find somewhere else to invest the money. Which are some providers of a similar nature, i.e. a managed ISA fund, preferably ones which can be set up and monitored online? I am considering either medium risk or high risk accounts."
10/06/2019Read our reply
"My wife and I invested our full 2019/20 ISA allowance with Investec's Click and Invest offering and were very sad to learn recently that the service was to be closed. We're now in the position of looking for a new ISA provider. I'd prefer to stick with a managed service, such as the one offered by Click and Invest, where our portfolios would be managed by experts, but will consider the DIY option if that proves to be the best on offer. Which platforms are well regarded ISA providers? I'd rather not go with a digital start-up offering, but a more established player with a track record of good performance. I suppose this sounds like I'm asking for advice, which I'm not, just a steer in the right direction as we were not anticipating to be in this position so soon after investing this year's ISA allowance. We actually opted for the Click and Invest service in part, because of the 5 star recommendation on this site; of which we are fond and value the content."
Mr & Mrs S., Sussex
30/05/2019Read our reply
"I shall have £10k to invest shortly, and I want to use an actively managed portfolio in a quality company. How would you rate - Investec Click & Invest/True Potential Investor/Nutmeg on the basis of ROI/customer relationship/quality/risk factors etc? I would class myself as a mid-grade risk-taker/reasonably adventurous if appropriate, with a high quality company. I presently use Hargreaves Lansdown and Wealthify but feel the need to diversify. What do you recommend?"
03/10/2018Read our reply