Boring Money Best Buys 2021:
Best for Beginners - Pensions
The best investment platforms and robo advisers for beginner and first-time pension investors. Based on customer reviews and expert analysis of 30 test accounts. The following list had been ranked in alphabetical order.
How our ratings work
Our scores are based on a range of criteria:
- Each provider is rated by the Boring Money team, based on their website, ease of use, service and the quality of their communications and content. In particular, we use live accounts to look at what it is like to be a real customer. This is currently 33% of the final rating.
- We gather reviews from platform users. These reviews currently make up 30% of the score, with a weighting applied according to the date of the review.
- Cost is scored based on the type of proposition offered and makes 25% of the final score. The cost score is based on several different scenarios, each with different sums of money and amounts of activity, split across 2 broad categories:
- Novice investors, where we include investment charges, since the service is often bundled together with the investments.
- Buy and hold investors, where we just look at the cost of the ‘platform’, as investors are free to pick from thousands of funds with different prices.
- We also rate platforms on phone customer service, based on their call centre opening hours and the time they take to answer the phone. This accounts for 6% of the final score.
Providers are scored according to ‘future stability’ based on the size of their platform and their longevity in the market, which makes up the final 6% of the score.
How we make money
We take a lot of time to test and review investment providers. We cover our costs for this work by setting up ‘introducer revenues’ for investment and pension providers. If you research a provider on our site, click through to their site and then open an account, we may get paid an introducer fee. Where we have any such relationship in place, this is clearly marked as the click-through button is bright orange!
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