True Potential pips Charles Stanley Direct and Nutmeg for highest customer rating in new Best Buy tables
By Mike Narouei, Content Producer at Boring Money
26 Mar, 2018
The new Best Buys are live and kicking. We've reviewed 32 online investment and pension providers, opened test accounts with 25 and collected nearly 1300 reviews and ratings from investors. If it's good, bad or just plain boring, you'll find out here.
True Potential Investor customers give the direct investment, ISA and pension provider a 91% recommend score – the highest score
In our latest market analysis, we've reviewed 32 online investment and pension providers and opened test accounts with 25 to allow for in-depth analysis of their service. We've also collected nearly 1300 reviews and ratings from real investors.
The Consumers’ Verdict
True Potential, Charles Stanley Direct and Nutmeg are most popular with their customers.
Robo adviser Wealthify is nipping at True Potential’s heels with a 89% recommend score from 27 customers to date. It's not included in the rankings because we have a minimum requirement of 30 reviews before including the user feedback in our scores, but we expect it will catch up quickly.
Barclays Smart Investor and Aegon Retiready (https://www.boringmoney.co.uk/learn/articles/new-best-buy-tables/#) fall at the bottom of the consumer recommendation ratings, with poor customer service, broken links and long waits for fund transfers the most common user complaints.
How do the Boring Money Best Buys work?
We make our Best Buys recommendations using a weighted scoring system which factors in cost, user reviews, service, website and security. To qualify for this rating, providers need to score at least a 4 star rating from us, coupled with at least a 70% recommend score from its users.
Fidelity (https://www.boringmoney.co.uk/isas-pensions/fidelity/) has a 4 star rating from Boring Money but fails to make the grade as it has only a 51% recommend score from users. From Holly:
“We have opened test accounts with 25 providers in the last two months as part of our ongoing testing. Customer feedback forms a key part of our research as we reinforce our desk research and subjective experiences with the views of nearly 1,300 investors. Fidelity is a key example of where its functionality ticks our boxes but 106 users only give it a 51% recommend score – these insights have to be added to the mix.”
The new Best Buy pages have various filters including a beginner filter for the less confident, a cost filter and a good on mobile filter.
Want to have a little look? Visit the new Best Buys page and see who's rated highest.