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Bestinvest

Bestinvest

A one stop shop for people looking to buy funds & shares and/or hand over control to the experts, with cheap ready-made portfolios and free financial coaching available.

What we say

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Holly's View

Easy to use and engaging information. Bestinvest has spent time and effort on their fund research pages and the revised journey enables improved comparison as well as helpful, well-signposted investment details and information. Competitive pension charges especially for larger accounts.

Holly MackayHolly Mackay
Holly MackayFounder and CEO of Boring Money

Customer review

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Overall Summary

Ease of use

The site has been recently upgraded and it is now much easier to navigate around, creating a smoother experience for both managing a portfolio as well as reading up on the markets and getting tips and ideas on what funds to pick. The integration of small video clips into some of the pages is a nice touch and gives the website a slightly more modern feel.

Mobile & Apps

No mobile app currently exists but an app is expected in 2022.

Behind the scenes

Bestinvest is fairly straightforward to use although some aspects of the site feel a bit dated. There are a few different login options that may confuse users, however once you are in, it is much clearer to navigate. A lot of work has been done on the display of research and information and this is one of the most helpful sites around for those who want a few tips and pointers on which funds or investments to choose.

This service will suit the all-round investor - the purist share trader won’t like it and the novice will feel a bit at sea. But for those who want to do a bit of reading, and manage their own portfolio, without needing to be an expert, it's a good option.

The 'Geeky' Details

Provider details

Bestinvest is a decent online investment platform which has recently revamped its pricing and the breadth of its offering. The website has plenty of guides and investment research available, especially when logged in.

Bestinvest has removed many of its SIPP charges, including additional SIPP admin charges, drawdown charges and closure fees. Share trading fees have dropped to £4.95 and there are no fund dealing charges - so for investors putting small amounts into a few different funds on a monthly basis it is pretty low cost.

One potentially less positive pricing change for users is the introduction of a minimum £120 annual fee for SIPP accounts. This makes Bestinvest an expensive platform for SIPPs under £30k and is something beginner investors should be aware of. Bestinvest charge a service fee of 0.4%, which is on the higher end of the spectrum.

As part of its revamp, Bestinvest have introduced free financial coaching for its users, and is currently the only platform in the UK to offer this service. This allows users to get help from a qualified financial planner on things like achieving your investment goals and fine-tuning your strategy.

For those looking for a personalised investment recommendation, Bestinvest (who are owned by a much larger advisory business) has reduced the fees of its one-off advice packages. The “Investing for your goals” advice costs £295 and a “Portfolio health check” is now £495.

Bestinvest has also halved its platform fee of 0.4% to 0.2% for all money held in its own-brand ready-made portfolios. These portfolios are categorised into two types: Smart Portfolios and Expert Portfolios. Smart portfolios focus on cost-efficiency, with a competitive all-in charge of roughly 0.6%, which equates to £6 for every £1000 invested. The Expert portfolios, which are actively managed, are more established and more expensive, and also have a couple of ESG options.

Important Facts & Figures

Provider Size:

Mid-sized investment platform administering around £2.7bn

Minimum amounts:

£100 minimum lump sum investment
£50 minimum monthly contribution

Bestinvest