Dodl vs Moneyfarm

We compare AJ Bell's new investment app, Dodl, against Moneyfarm. See who came out on top.

Dodl is a brand-new investment app from AJ Bell. It has a range of ready-made portfolios on offer, similar to the offering that Moneyfarm has got. We’ve put the two apps head to head to find out whether Dodl is better than Moneyfarm. As Moneyfarm offers only robo-advice (compared with Dodl’s additional investment options), we’re only comparing the robo-advice capabilities of these two providers. We’ve compared the products available, the portfolios on offer, the fees, features and learning resources of both platforms.

Dodl vs Moneyfarm: Vital statistics

DodlMoneyfarm
Finder rating★★★★★★★★★★
Customer satisfaction rating★★★★★
Costs rating★★★★★★★★★★
Stocks and shares ISA available?
FSCS protected?
More InfoGo to site
More Info
For vital stats, both providers score pretty well. Both offer stocks and shares ISAs and both platforms are protected with the Financial Services Compensation Scheme (FSCS), which means that you’re protected up to £85,000 if either company were to go bust.

Moneyfarm doesn’t score so well for its costs, which we detail more below.

Round 1: Products

DodlMoneyfarm
Stocks and shares ISA
Lifetime ISA (LISA)
Pension
More InfoGo to site
More Info

Both Dodl and Moneyfarm let you invest in a stocks and shares ISA and a pension. Dodl also lets you invest in a lifetime ISA LISA), which lets you save up to £4,000 per year for your first home or for retirement. The government contributes £1,000 for every £4,000 invested.

  • Winner:Dodl

Round 2: Portfolios

DodlMoneyfarm
Portfolios rating★★★★★
Risk assessment quiz
Number of portfolios on offer77
Ethical portfolios on offer
Managed portfolios on offer
More InfoGo to site
More Info

Both Dodl and Moneyfarm offer 7 different ready-made portfolios, but only Dodl has ethical options available. Moneyfarm has a handy little risk-assessment quiz that can help you find out which portfolio suits your risk profile best. All portfolios are fully managed with both providers.

We’re calling Dodl the winner here, as we believe that all providers should have a socially responsible option, given the current popularity in these types of funds.

  • Winner:Dodl

Round 3: Costs

DodlMoneyfarm
Costs rating★★★★★★★★★★
Annual cost of investing £10,000£15.00£104.00
Annual cost of investing £100,000£150.00£640.00
Annual cost of investing £1m£1500.00£6,400.00
More InfoGo to site
More Info
Dodl is the clear winner when we compare the fees of both platforms. Dodl charges a 0.15% platform fee, plus there are ongoing fund charges for each of the ready made portfolios which is 0.31% for all funds except the responsible fund (which charges 0.45%). Even once you’ve considered these fees, Dodl comes out cheaper than Moneyfarm annually by around half the cost.
  • Winner:Dodl

Round 4: Features

DodlMoneyfarm
Features rating★★★★★★★★★★
Desktop or web access
iPhone app
Android app
In-app news and research
In-app top-up
Keep in mindCapital at riskCapital at risk
More InfoGo to site
More Info
With Moneyfarm, you can access the platform in-app and on your desktop, whereas Dodl is mobile only. Moneyfarm is great about offering plenty of news and research on the platform to let investors know what might be impacting their portfolio performance. Dodl doesn’t have much news or research in the app – you can pretty much just see some information about each investment. You can top-up on mobile with both apps.

The graphs in Dodl are pretty nice – you can select a part of the graph and it tells you the price and the date, so they’re more interactive than other apps we’ve reviewed.

  • Winner: Moneyfarm

Round 5: Learning resources

DodlMoneyfarm
Resources rating★★★★★★★★★★
Guides
Videos and walkthroughs
In-depth learning tools (training courses, etc.)
Demo account
Advice
More InfoGo to site
More Info

In terms of learning resources, Moneyfarm scores higher than Dodl, as it has videos and walkthroughs to help you learn about investing. We still like Dodl’s approach — it’s got a “learn” tab on the app with guides and in-depth tools that can help you get started, which we think is vital for a beginner investment platform.

Moneyfarm offers financial advice at a cost, if you require it.

  • Winner:Moneyfarm

Our verdict: Is Dodl better than Moneyfarm?

Dodl and Moneyfarm might have similar offerings, but they’re very different. Dodl is definitely more beginner friendly, with some hand holding monsters that help you along the way. Moneyfarm is a little more sophisticated, but still only has ready-made portfolios to choose between. Dodl scored better for more categories, so they come out on top, but which one you choose will depend on what you’re looking for.

All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Past performance is no guarantee of future results. If you’re not sure which investments are right for you, please seek out a financial adviser. Capital at risk.

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