Of course if you are going for the Junior ISA the same rule applies – you may want to try other brokers for your money first. The fact that the platform is owned by Aviva should certainly be a confidence booster to those potential users looking for a platform to invest through, but are unsure of which providers to trust. Easy accessible investing with a great website and no jargon! The phone support is available on weekends as well on Saturday and Sunday between 9.00 am to 12.30 pm. Wealthify did also manage to make back the 2018 losses with a great year in 2019 where they performed slightly better than Nutmeg in their Tentative and Confident funds and even showed a solid advantage on Wealthsimple in their Tentative fund. If in doubt, seek professional advice from an FCA regulated advisor. I love the app where I can keep track of the account and show my daughter how her fund is growing, No way of knowing how much money in total has been invested compared to what the current value is!!! Wealthify recently changed its fee structure in December 2019 and has switched to a flat fee of 0.6%. You can click through the five different risk levels and easily see the losses and gains of a potential investment amplified with each higher level of risk. Wealthify SIPP Review At the time of writing, Wealthify doesn’t offer any pension based products. It was a lot clearer. Wealthify is a popular UK based Robo-advisor investment platform who invest in a range of ETF’s in a semi-managed way. What’s more is fees compound – so as your portfolio grows in size so does the amount you pay. Read 1 more review about Wealthify Only the latest review will count in the company's TrustScore Linda Wilshaw 1 review. The whole point a robo advisor like Wealthify is it is passive and does the investment work for you. Can easily manage all aspects of my account in an intuitive app and make any fund or risk level adjustments to meet my requirements. This fee includes any fund charges as well as market spread. Our app and website allow you 24/7 access so that you can see how well your investment performs, as well as get in touch with us should you desire. A big thank you to them for their understanding. You will be contacted by email to verify your review. At the end of the tax year you can choose to transfer your ISA but in reality most people won’t bother. Sign up to get breaking news, reviews, opinion, analysis and more, plus the hottest tech deals! In tune with a host of other robo-advisors such as Acorns and Stash, the platform automates your investments based on the risk-taking abilities of its customers. In my review back in 2018, I remarked that Wealthify was less competitive for investors with over £500k, but then they reduced their fees for those wishing to invest over £100k down to 0.40%. Transferring Your Investments to Wealthify. But they are not that cheap. Because Wealthify has a great user-friendly app too, you can sit down with the kids, monitor the investments and teach them about what’s happening to their money in an easy-to-digest format. Responsive service, good returnsReally impressed with the customer service and the growth of the investment given the current situation, much better than leaving it in my non interest paying bank account! Even professional fund managers struggle to beat the market consistently and robo-advisors are unlikely to be different. Wealthify was founded just four years ago, but generally speaking, their performance has been pretty good across all of their funds; however, on more cautious funds, other Robo-advisor investment services did make their clients slightly more over the last few years. Nevertheless they do still charge a small management fee. I have been investing with Wealthify for over two years now, and can only highly recommend the experience that I have received. Good platform, my only gripe is that even in the highest risk plan "Adventurous" approximately 25% of the fund gets invested in government bonds which have lower returns than equities in the long term, consequently Wealthify has occasionally underperformed Nutmeg which has 100% equity plan. Signing up to Wealthify can be done online in just a few clicks. Wealthify is a breath of fresh air! if you are looking for a hassle-free passive investment option, Wealthify could be a good platform to look at. When the markets fell I was able to buy in and make a significant return as they recovered in a short time frame. This review is an update of the one…. Do note, however, that the support staff does not provide any sort of financial advice, which is done only through the automated robo-adviser. High markets do tend to crash but crashes typically recover fairly quickly. Transferring your investments is really easy and is free of charge. Wealthify have one of the better customer service teams we’ve come across, especially when it comes to response times. England and Wales company registration number 2008885. Worlds apart from HL. Wealthify uses Winterflood Securities Limited, who hold the funds for our ISA and General Investment Accounts, and Embark Investment Services Limited as custodians. However, this can definitely be considered expensive. I also chose the ethical option and the funds being selected are many I recognise from my self-managed portfolio: they are truly some of the excellent 'green' choices that I would have wanted to buy anyway. Only grumble is the payment process by direct debit is rather slow. But then I did start this investment blog. (Supported files: jpg, png, mpeg, ogg, mp4 & webm). page. Nice and easy app to use and was quick to set up my pension transfer. Well it took Wealthify nearly 9 weeks from my original transfer request to finally completion of the transfer, so much for their 'can take up to 30 days' claim. Wealthify App – A Review. We really like that you can open an account with as little as £1 or a regular monthly contribution of just £10 as some other Robo-investing services require much higher deposits like Nutmeg and Moneyfarm who require £500 and £1,500 respectively. But having said that, you still need a broker in order to access that fund, and brokers can be expensive. * One or more of these files was not uploaded due to an invalid file type. Since the end of the day, it is an investment company and proof is in returns (rather than a slick website etc). They have experienced portfolio managers at the top level who make tweaks that affect every investment plan. We take security very seriously. One of the best decisions I made.Since then, I have invested more and more and had another 3 family and friends join who are equally happy.Such an easy platform, interesting to see where they put my money. The website is user-friendly and easy to use. I will certainly consider investing with Wealthify next financial year based on this experience. So far so good. TechRadar is part of Future plc, an international media group and leading digital publisher. That means that in a lot of cases there is no ideal time to invest in the stock market but if you stay invested for the long term it is likely you will make money. If you had £100,000 under management in your investment portfolio then a 1% fee would be £1000 a year. In case any of these companies go bankrupt, your first £85,000 is protected under the Financial Services Compensation Scheme (FSCS).