as of 06/03/2020 at 10:25 am
Wealthsimple recently launched in the UK after a few years running in Canada and the US. As with many other robo-advisers, you answer a few questions and get a portfolio that's suitable. You therefore don't get to pick your own individual funds or shares. Wealthsimple is also offering socially responsible investing, with three portfolios which invest into companies that ‘further socially responsible initiatives’, as well as a new ethical portfolio.
It will suit less confident investors and those that want someone else to manage their money.
Fees start off at 0.7% for Wealthsimple, plus around 0.2% for the underlying investments they use. Those with more than £100,000 invested pay 0.5% and get access to investment planning and airline lounges.
New robo-adviser, also serving clients in Canada and the US
|Minimum amounts:||£0 minimum monthly amount
£0 minimum initial amount
"I currently have my children's Stocks & Shares ISA's with H&L however I am not that savvy with investing so I am thinking of moving it over to Wealth Simple and allowing them to do it for me. Would you recommend this or are there other roboadvisors you would suggest? I am happy to leave the money in long term until they are about 18 so looking at an 'ambitious' risk. I also have the same account with H&L and will potentially swap also."
12/10/2020Read our reply
"Hello, I currently have a Stocks & Shares ISA and a Junior ISA with Wealthsimple. I am considering changing these to Vanguard, but I am unsure if transferring across providers is a simple process, and if they can transfer without issues. Also I am confused, as I would maybe like to invest over a few different platforms, but it seems you can only pay into one per year?"
Philip, County Antrim
21/05/2019Read 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