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Moneyfarm

Moneyfarm

A simple enough risk

Questionnaire will allocate you into the right mix of investments. Good for those who want help and are happy with few investment choices.

What we say

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Holly's View

Holly has accounts with all the providers on our website and independently reviews all of them.

Moneyfarm is a decent choice for those who want someone to do it all for them. A simple questionnaire will identify what sort of an investor you are and then does all the fiddly stuff for you. They also check in every year to make sure that this profile is still the one for you. For those struggling to map timeframes and goals to the investments you pick in a pension, Moneyfarm does provide access to advisers on the phone or online who can help talk things through.

Holly MackayHolly Mackay
Holly MackayHolly Mackay

Customer review

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Overall Summary

Ease of use

Moneyfarm has a really nice and easy to digest explanation of what they will do for a customer and what the process will be. Navigation of the site is relatively easy and you can now see the full asset allocation of each portfolio depending on your investment account – great transparency from the off! Much of the information surrounding product, risk and cost is really well explained.

Mobile & Apps

Users can sign up, create new investment portfolios and add money to existing investments, features not common across all mobile apps. App has full functionality with no need to revert to the web app.

Generally, the app is really nice and easy to use, however it is misleading that performance gains are given since the inception of the portfolio and not when you purchased it!

Articles link to the website seamlessly and you can speak to "investment consultants" directly through the app which is a welcoming feature.

Behind the scenes

The scheme that allows you to refer a refer a friend to Moneyfarm and both parties get £5,000 worth of your investments managed free of charge for one year is a nice touch for the novice investor who may want to test the waters.

The advice centre could have more substance – once you’ve been given your recommended risk rating and are invested there’s not a lot more it can offer.

Investment Choice

Products

  • Stocks and Shares ISA

  • Junior ISA

  • Lifetime ISA

  • Investment Account

  • Pension

Investment help

  • Robo advice / ready-made portfolios

The 'Geeky' Details

Provider details

Moneyfarm is an interesting option for those who don't know where to start and want some advice along the way. Unlike some, these guys are regulated to give investment advice so do take personal circumstances into consideration. You can't pick your own shares or funds however, so you get one of their own-brand “ready made” portfolios only.

This group started life in Italy and launched in the UK in 2016 - gaining traction here ever since.

Their charges are tiered, starting at 0.75% for the smallest portfolios i.e. under £10,000, reducing to 0.35% on anything over £100,000. On top of this there is the average investment fund fees of 0.20%. These fees cover the digital investment advice if you need reassurance from one of their advisers and, further, there are no trading fees.

It is worth bearing in mind that Moneyfarm has a minimum investment of £500.

Moneyfarm charges no extra fees when it comes to drawdown.

Important Facts & Figures

Provider Size:

The platform administers over £1b across Europe.

Minimum amounts:

£500 minimum investment

Moneyfarm