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Wealthify

By: George Sweeney (DipFA) | Updated: 31st March 2021.

Great for: beginner investors who want simplicity and flexibility with low fees
4 stars question mark

Wealthify

Wealthify logo

Wealthify is a straightforward and cheap investing solution. You’re able to choose a plan based around five different risk profiles. You also get the option to select an original or ethical investment theme.

WHAT YOU NEED TO KNOW

  • Open an account from just £1 (£50 for SIPP)
  • Stocks and Shares ISA available
  • Ability to choose a standard or ethical investment theme
  • Flat 0.6% management fee and small additional fees based on chosen plan
  • No cost to deposit, withdraw, transfer or close your plan
  • Rather than allowing individual stock-picking, this service helps investors to buy into discretionary managed ETF portfolios.

DISCLAIMER

The value of your investments can go down as well as up and you may not get back all the money you put in. All investments carry a varying degree of risk and it’s important you understand the nature of these risks.

what we like

  • Open an account from as little as £1
  • Low fees that are straightforward and transparent
  • Easy investing plans to select based on risk profile
  • PLATFORM FEE:

    0.6%
  • Share dealing charge:

    n/a

WHAT YOU NEED TO KNOW

  • Open an account from just £1 (£50 for SIPP)
  • Stocks and Shares ISA available
  • Ability to choose a standard or ethical investment theme
  • Flat 0.6% management fee and small additional fees based on chosen plan
  • No cost to deposit, withdraw, transfer or close your plan
  • Rather than allowing individual stock-picking, this service helps investors to buy into discretionary managed ETF portfolios.

DISCLAIMER

The value of your investments can go down as well as up and you may not get back all the money you put in. All investments carry a varying degree of risk and it’s important you understand the nature of these risks. Remember that taxes can be complicated and the tax benefits of this, or any, product depends on your personal circumstances. Tax rules are subject to change.

What kind of solution is Wealthify?

Wealthify is a straightforward and cheap investing solution. You’re able to choose a plan based around five different risk profiles. You also get the option to select an original or ethical investment theme. Your money will then be split amongst a mixture of funds that contain shares, bonds, property, and commodities.

All you need is a pound to get started, which makes it accessible to just about everyone. Being able to change your plan for free means that you can adjust your approach as you need.

Our bottom line

Wealthify is an innovative company looking to make investing accessible to everyone. You can open an account easily with a small deposit, so you can start your investing journey straight away. The platform is simple but provides a healthy range of options for investors who want different levels of risk.

They’re backed by Aviva and really make an effort to simplify the investing process. Behind the scenes they pick out funds from top global providers, but the process for investors getting started is really easy to understand. There’s no confusing finance jargon or complicated fees.

Remember though, if you’re ever unsure about the suitability of an investment for your own circumstances, please seek independent financial advice first.

Wealthify’s top features

Creating your investment plan is a walk in the park. You just select your appetite for risk, which ranges from cautious to adventurous. You’re able to then decide if you want to use an original or ethical theme for your funds. Simple as that.

Wealthify are really flexible with how much you can invest. Being able to open an account with a small deposit or a small monthly investment means that their services are really accessible. Even if investing is just something you want to dip your toes in, they let you start off small and then progress things if you want too. This low barrier to entry is fantastic for people who are just learning or are keen to give investing a try.

There are plenty of accounts to choose from, including a general investment account, stocks and shares ISA, self invested personal pension (SIPP), and even a junior ISA. Backing from Aviva also gives added peace of mind that your investments are in good hands.

How do the fees work?

There is a flat annual management fee of 0.6% taken on a monthly basis. So how much it costs you in pounds will depend on the size of your portfolio each month. The fee percentage doesn’t change as your portfolio grows, staying at the same rate which keeps things effortless.

Depending on which investment plan you choose, there are also some small added fund fees. These are charged by the investment funds themselves, not Wealthify. They use low-cost funds to keep these charges at a minimum. It’s worth bearing in mind the fees for ethical funds do tend to be slightly higher than the ones in their original plans.

There are no fees for making deposits or withdrawals into your account. There’s also no charge for changing to a different plan or closing your account altogether. So you get plenty of flexibility and freedom at no cost.

Wealthify’s platform

Navigating around Wealthify’s website and app is a pleasure. Everything is nice and easy to find, and there’s absolutely no complicated financial jargon in sight.

Setting up an account is clear with easy-to-follow steps. Although everything on the surface is nice and sleek, it’s also no headache to dig deeper on their website and find more information if you need it.

Wealthify mostly use a mixture of funds as the basis of your investments. Which funds they use will depend on your risk profile and plan. They use a combination of computer algorithms and expert investors to manage the investments. This way, you get the best of both worlds by using technology and good old-fashioned human brainpower.

What are the risks?

Using an investing platform like this carries the usual risks of investment. Your portfolio isn’t guaranteed to grow and you could lose money. Obviously, the riskier the plan you choose, the greater the chance of volatility and bigger losses.

Because Wealthify use broad funds, you automatically get a lot of diversification and a varied investment portfolio. This can carry a lower risk than being invested in just a few companies because it’s spreading your investments.

You don’t have much control over your investments as they’re selected for you. This is great if you want to take a passive approach to investing but it does mean handing over the reigns to Wealthify.

Although investments could lose their value, there’s no charges to open or close an account so you’re not going to get stung with any added costs if decide to stop investing or move elsewhere.

How accessible is Wealthify?

Being able to open an account from as little as £1 makes Wealthify one of the most accessible platforms available. Opening a SIPP requires a £50 deposit, but this is still much lower than a lot of competitors.

It’s very easy to control how much you invest and ramp things up or down as you need. Combining this with being able to switch plans at no cost means you can really adjust your investing approach to suit your circumstances.

This is a great place to beginners to start, especially if you just want to get the ball rolling whilst you learn more about investing.

Service and support

Wealthify offer a live chat service along with a telephone option for getting in touch. You’re also able to send secure messages to their team, and they have a really thorough and easy-to-understand FAQ section.

They’ve got plenty of good reviews on external sites like Trustpilot, with plenty of people happy about customer service interaction and response times.

Is Wealthify right for you?

If you’re someone just getting started with investing or if you want to take a passive approach, Wealthify could be a great choice. In terms of value, this platform is right near the top of the pile.

The low fees and lack of charges for making changes make this a really flexible investment option. A wide selection of account types is also a bonus.

Choosing your plan and investing style couldn’t be easier and everything is crystal clear. This simplicity may not suit people who want lots of control and choice with their investments, and is more suited to those who are just finding their feet and getting started.

Compare our ranking and reviews of some of the UK’s top investing solutions


The Motley Fool receives compensation from some advertisers who provide products and services that may be covered by our editorial team. It’s one way we make money. But know that our editorial integrity and transparency matters most and our ratings aren’t influenced by compensation. The statements above are The Motley Fool’s alone and have not been provided or endorsed by bank advertisers.

Great for: beginner investors who want simplicity and flexibility with low fees
4 stars question mark

Wealthify

Wealthify logo

Wealthify is a straightforward and cheap investing solution. You’re able to choose a plan based around five different risk profiles. You also get the option to select an original or ethical investment theme.

WHAT YOU NEED TO KNOW

  • Open an account from just £1 (£50 for SIPP)
  • Stocks and Shares ISA available
  • Ability to choose a standard or ethical investment theme
  • Flat 0.6% management fee and small additional fees based on chosen plan
  • No cost to deposit, withdraw, transfer or close your plan
  • Rather than allowing individual stock-picking, this service helps investors to buy into discretionary managed ETF portfolios.

DISCLAIMER

The value of your investments can go down as well as up and you may not get back all the money you put in. All investments carry a varying degree of risk and it’s important you understand the nature of these risks.

what we like

  • Open an account from as little as £1
  • Low fees that are straightforward and transparent
  • Easy investing plans to select based on risk profile
  • PLATFORM FEE:

    0.6%
  • Share dealing charge:

    n/a

WHAT YOU NEED TO KNOW

  • Open an account from just £1 (£50 for SIPP)
  • Stocks and Shares ISA available
  • Ability to choose a standard or ethical investment theme
  • Flat 0.6% management fee and small additional fees based on chosen plan
  • No cost to deposit, withdraw, transfer or close your plan
  • Rather than allowing individual stock-picking, this service helps investors to buy into discretionary managed ETF portfolios.

DISCLAIMER

The value of your investments can go down as well as up and you may not get back all the money you put in. All investments carry a varying degree of risk and it’s important you understand the nature of these risks. Remember that taxes can be complicated and the tax benefits of this, or any, product depends on your personal circumstances. Tax rules are subject to change.