Low-cost, no frills investing.
Their LifeStrategy funds offer readymade investment solutions and with over 30 million mostly happy customers globally this feels like a safe option for most.
What we say
Holly's View
Holly has accounts with all the providers on our website and independently reviews all of them.
Needs work. Virgin aspires to be seen as a cool disrupter so I wasn’t expecting the diversion from web to paper-based investment journey. I don’t enjoy my leaflet which is posted every 3 months with a performance update. Oh dear. Probably much better for ISAs than general investment accounts.
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Overall Summary
Ease of use
Virgin does start off quite well with a simple online journey where you select one of 6 ready-made funds. The front end is well signposted and easy to use. But outside of the ISA journey it quickly went horribly wrong and we ended up in a snail mail universe. Performance updates and valuations come quarterly when a leaflet is posed. Blimey.
Mobile & Apps
Virgin Money don’t currently have an app. It’s a slow process for investment accounts. Could be better for ISAs?
Investment Choice
Products
Stocks and Shares ISA
Investment Account
Investments available
Own brand funds
Ethical investments
Investment help
Robo advice / ready-made portfolios
The 'Geeky' Details
Provider details
This is a pretty simple choice and will suit newcomers who just want to get going with a brand they know and trust. There are six ready-made solutions from which to choose. including an ethical investing option: the Climate Change Fund. There are no individual company shares or funds from other groups.
The charges range from 0.6-1% a year all-in for their simple ‘passive’ portfolios. This is the vanilla ice cream option for the stocks and shares ISA world. Move on if you’re after double choc chip with sprinkles.
Important Facts & Figures
Provider Size:
Mid-sized investment service from the bank
Minimum amounts:
£500 minimum initial amount for the Climate Change fund
£1 minimum initial amount for all other funds
Virgin Money