as of 22/06/2021 at 6:46 am
The biggest of the UK 'robo advisers' with over £3bn under management today. Suits people who don't know where to start or who would rather leave the hassle and responsibility of managing their investment pot to the experts.
You choose between 10 different options according to your financial situation and risk attitude and get plopped into a ready-made portfolio of lots of different investments from across the globe. You can only use their portfolios – you can’t pick your own funds or shares.
You can choose their low cost automated 'fixed allocation portfolios' or pay a bit more if you'd like their team to manage your investments in a more hands-on way. They also offer a range of socially responsible portfolios which are managed by their team. The managed portfolios cost around 1% per year, or £10 on every £1,000. Socially responsible portfolios cost around 1.13%, or £11.30 on £1,000 invested.
A nice digital option which will suit busy people on-the-go. With 8 years under their belt, by far the most experienced of the UK 'robo advisers'.
The largest UK robo-adviser, with over £2bn invested
£100 minimum for a Lifetime ISA or Junior ISA
"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
"Hi, I'm trying to choose an 80/20 low cost tracker fund to transfer my pension to, as I'm currently paying 1% fees to my provider which I want to save on. Does the performance of different tracker funds vary a lot (e.g. between PensionBee, Nutmeg, AJ Bell) and how do I compare their track records? Many thanks, Vivienne"
22/07/2020Read our reply
"I'm a 48 year old with minimal pensions. I would like to start a new pension to save for the next 12 years. I've already set up a Stocks & Shares ISA with Nutmeg, so would like to start my pension with another provider. I know little about investments so would like to use a company that has ready made funds based on risk assessment. Which would you recommend?"
30/05/2019Read our reply