Is Wealthify good for investing?
Independent review by Boring Money
1 Jan, 2025
Investment expert's opinion
Wealthify has not made any notable changes or upgrades over recent years. The user experience remains nice enough and it's relatively easy to set up and get going. But its competitors have made a lot more progress with what investments they offer, and how they help customers. It feels as though parent Aviva has been stingy with the pocket money and the lack of development is becoming apparent. It's not bad! Just not exceptional either.
*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 Wealthify?
Wealthify is one of the largest robo advisers in the UK, offering users access to a range of ready-made portfolios designed to match their tolerance for investment risk. Owned by financial services giant Aviva, Wealthify joined the market in 2016 and is based in Cardiff, Wales. It states its singular aim is “to make investing accessible to everyone”.
Who is Wealthify good for?
Wealthify is a respectable option for less confident investors or those who need a helping (digital) hand – it's super easy to use. It’s also relatively cheap for smaller portfolios of less than £50,000. However, for larger portfolios of £50k+ it starts to get expensive.
Pros and cons
Still not quite sure if Wealthify is right for you? We’ve broken down the main pros and cons of investing with Wealthify in the table below. Take a look for a bird’s eye view of the key takeaways.
Investments
Wealthify is a robo adviser which means that users can choose from a range of ready-made portfolios designed to match their tolerance for risk. The table below shows a breakdown of the five portfolios Wealthify offers and a brief summary of what each one is invested in.
Portfolio name | Cautious | Tentative | Confident | Ambitious | Adventurous |
Risk level | Described as very low risk. This means it should swing up and down less than other options. | Described as lower risk. This means it is not as volatile as 100% shares. | Described as medium risk. Expect ups and downs – but potentially better returns. | Described as medium to high risk. This means even more ups and downs – but potentially better returns with it. | Described as high risk. Expect swings up and down but better long-term returns. |
Investing timeframe | Better suited to shorter timeframes. | Better suited to mid-term timeframes. | Better suited to 5 years+. | Suited to 5 years+. | Better suited to 7 years+. |
Allocation to shares | Typically limited to about 12%. | Typically about 27%. | Typically about 45%. | Typically about 65%. | Typically about 81%. |
You can read more about what investment risk is and find out how much is right for you here.
Accounts
Wealthify offers a range of accounts. The table below shows a breakdown of which ones are available. Scroll down beyond the table for a summary of Wealthify’s ISA, Pension, GIA and JISA.
Stocks & Shares ISA | Pension (SIPP) | General Investment Account (GIA) | Lifetime ISA | Junior ISA |
✔ | ✔ | ✔ | ✘ | ✔ |
Wealthify has a Stocks & Shares ISA, where users can invest up to £20,000 every year tax-free.
Users can select from Wealthify’s ready-made portfolios – Cautious, Tentative, Confident, Ambitious and Adventurous – which each have a different blend of low and high risk investments. Deciding which one is best is down to you, but you can view the types of assets in each portfolio before you commit to any one of them.
There is also the option to apply an Ethical filter to Wealthify’s portfolios, which are designed to invest in companies which actively demonstrate Environmental, Social, and Governance (ESG) practices, such as gender equality and green energy.
It's easy to start a new Wealthify Stocks & Shares ISA. You will need to invest a minimum deposit of 1,000, and you can change your portfolio at any time in the Wealthify app.
Wealthify offers a Self-Invested Personal Pension (SIPP), where you can invest up to £60,000 or 100% of your salary - whichever is lowest, every tax year to put towards your retirement savings.
Like the Stocks & Shares ISA, Wealthify SIPP users can select from their range of ready-made portfolios to find a blend of investments that suits their needs. Similarly, there is the option to go for Wealthify Ethical portfolios if you’d like to incorporate ESG into your investments.
You can transfer an existing pension to Wealthify (although beware of any exit fees charged by your current provider). Existing customers simply need to go to their dashboard and click the ‘transfer in’ button on the home screen.
Wealthify do not accept transfers of pensions with safeguarded benefits such as Defined Benefit pensions, those with a guaranteed income, or those where you can get more than your 25% tax free cash. As well as pensions, you’re already taking an income from
SIPP users can set up a new account with a minimum deposit of £5,000, and it's possible to change your chosen ready-made portfolio at any time in the Wealthify app.
Wealthify has a Stocks & Shares Junior ISA, where you can invest up to £9,000 every tax year on behalf of your children or grandchildren.
As with the adult Stocks & Shares ISA, Wealthify JISA customers can select from one of Wealthify’s original or Ethical ready-made portfolios. It’s not set in stone if you change your mind, though – it's possible to switch at a later date at your discretion.
The minimum deposit when you open a Junior ISA is £1,000.
Powered by ClearBank, their Cash ISA offers a smarter way to save. They offer a Cash ISA at 3.35% AER / 3.30% Tax-free p.a (Variable). A Cash ISA is best suited for people looking for competitive returns, tax efficiency, and accessibility.
Minimum deposit £1000.
Interest paid monthly.
The tax treatment of your savings will depend on your individual circumstances and may change in the future.
Rate correct as at [17/02/2026].
Read more on Wealthify's website
Fees and charges
The cost of investing with Wealthify depends on what products you hold and what you choose to invest in. The table below illustrates how the charges work.
Product type | Portfolio size | Annual management charge | Average annual fund charge |
ISA/GIA/JISA | All | 0.60% | 0.14% for Original, 0.46% for Ethical |
Pension | Up to £100k | 0.60% | 0.14% for Original, 0.46% for Ethical |
Pension | Portion over £100k | 0.30% | 0.14% for Original, 0.46% for Ethical |
Customer reviews
Customer reviews say Wealthify offers a flexible introduction to investing with a user-friendly app, automated trading, and good communication. Customers appreciate the professional service, range of investment options, and regular updates on stocks and shares. While the platform is easy to use and beginner-friendly, some users suggest improvements in the visibility of investments, charges, and advanced features. Overall, Wealthify is seen as a fun brand with a great app, though some users feel returns could be better and fees more reasonable.
Your opinion matters!
Leave a review for Wealthify
Has become quite expensive and over the last couple of months growth has been quite slow and disappointing. I Have switched some investments around hoping it will improve the returns.
Read More >It�s an easy way to get into investing with low charges and the performance to date of my investments is very good
Read More >Most asked questions
Who owns Wealthify?
Wealthify is 100% owned by financial services giant Aviva, who is responsible for more than 18 million customers in the UK alone and is one of the country’s leading pension providers.
Does Wealthify offer a Lifetime ISAs?
No, Wealthify does not currently offer a Lifetime ISA.
Does Wealthify do round-ups?
No, Wealthify does not currently have a round-up function.
Is Moneyfarm, Nutmeg or Wealthify cheaper?
Moneyfarm and Nutmeg both offer more investment styles than Wealthify. All 3 providers offer a passively managed investment option, as well as an SRI/ethical investing option. In both of these categories, Moneyfarm is the cheapest, followed by Nutmeg and then Wealthify.
Visit the Wealthify website for more information
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.
Historically, money invested for more than five years grows more than cash savings. Remember that investments can also fall, so you might not get all of your money back. Tax treatment depends on individual circumstances and may change.
All information in this review correct as at 13/07/2026.
