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Dodl vs Wealthify

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

AJ Bell has launched a brand-new investment app called Dodl. The new app has a set of ready-made portfolios available for its users to invest in. Wealthify is a robo-advisor in the UK that offers a range of ready made portfolios. We’ve put the two apps head to head to find out whether Dodl is better than Wealthify. As Wealthify 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 Wealthify: Vital statistics

DodlWealthify
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.

Wealthify has a noticeably lower costs rating, which we compare in more detail below.

Round 1: Products

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

Both Dodl and Moneybox 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

DodlWealthify
Portfolios rating★★★★★
Risk assessment quiz
Number of portfolios on offer75
Ethical portfolios on offer
Managed portfolios on offer
More InfoGo to site
More Info

Dodl has a great range of ready made portfolios, with AJ Bell’s 7 portfolios available to invest in. These are fully managed and there are ethical choices available. Wealthify just has 5 available, but you can choose a socially responsible option and they are all fully managed.

  • Winner:Dodl

Round 3: Costs

DodlWealthify
Costs rating★★★★★★★★★★
Annual cost of investing £10,000£15.00£82.00
Annual cost of investing £100,000£150.00£820.00
Annual cost of investing £1m£1500.00£8,200.00
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 Wealthify annually.

  • Winner:Dodl

Round 4: Features

DodlWealthify
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
Both Dodl and Wealthify have mobile apps and they are both app-only. Dodl doesn’t have much news or research in the app – you can pretty much just see some information about each investment, this is something that Wealthify does better. Wealthify is more up to date with recent news that might impact your performance. 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:Wealthify

Round 5: Learning resources

DodlWealthify
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, both providers could offer more, but Dodl’s are better than Wealthify’s. Neither one has videos, walkthroughs or a demo account for beginners to practise with. Both Wealthify and Dodl have guides to help their users find out what they need to know. We really 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.

Neither platform offers financial advice.

  • Winner:Dodl

Our verdict: Is Dodl better than Wealthify?

We really like both Dodl and Wealthify for their ready-made options, but Dodl is a clear winner when you put them up against one another. It trumped Wealthify for products, portfolios, fees and learning resources.

Dodl could certainly do better with its news and research.

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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