evestor lets you start investing with just £1, less than the price of a cup of coffee. You’re not going to make enough profit from £1 to get yourself a fancy new car anytime soon, but it’s certainly a starting point. We’ve looked at the portfolios available with evestor, how you get started, how much it costs and some pros and cons.
Launched in 2017, evestor is an online investment manager that aims to help customers grow their finances through passive mutual funds. Like many of its digital wealth management peers, evestor assigns you to one of three portfolios based on your financial goals and appetite for risk. evestor also provides a financial advice service called OpenMoney.
evestor is a robo-advisor, which means that it invests on your behalf. Here’s how it works:
evestor has 3 portfolios – low risk, medium risk and high risk. We’ve detailed how they’re broken down in some more detail below.
evestor has 3 different products on offer:
The evestor general investment account has no trading limits or allowances.
You can’t use your ISA allowance with evestor, which means that any profits over £3,000 in each tax year are taxable. If you haven’t used your ISA allowance in the 2024/2025 tax year then you could invest in an ISA instead.
You can invest in an ISA with evestor. This lets you use your ISA allowance, which means that you can invest up to a certain amount each year without paying any tax on your profits. The ISA allowance for the 2024/2025 tax year is £20,000.
The evestor pension lets you save up for your retirement. It’s separate from your state pension and your workplace pension, so it’s for anyone who wants to save a little extra for retirement.
You can invest in the same investments as with the other accounts, but you can’t withdrawn until you turn 55. You can get tax relief on the money you pay into your pension from the government.
If you have existing pensions elsewhere then you can transfer them to evestor.
evestor charges an annual management fee of 0.25%, as well as a 0.10% administration fee, on each of its portfolios. You’ll also pay a fund fee, which covers the cost of investing in the various funds.
This is the approximate amount you’ll pay in fees on each portfolio:
| Portfolio | Management fee | Admin fee | Fund fee | Total fees |
|---|---|---|---|---|
| Low risk | 0.25% | 0.10% | 0.14% | 0.49% |
| Medium risk | 0.25% | 0.10% | 0.12% | 0.47% |
| High risk | 0.25% | 0.10% | 0.11% | 0.46% |
evestor uses 256-bit TLS encryption to protect your data and is authorised by the FCA. It is also covered by the Financial Services Compensation Scheme (FSCS), so you may be entitled to compensation of up to £85,000 on your deposits in the event that evestor ceases trading or defaults.
As with any other type of investment, whatever capital you invest with evestor is at risk, and there is no guarantee of returns. You may end up with less than you originally invested. The performance of each portfolio will also likely differ, and a higher risk portfolio does not necessarily mean higher profits.
evestor is pretty similar to Wealthify, Wealthsimple and Nutmeg, three other robo-advisors. Both Wealthify and Nutmeg have more portfolios, however.
evestor’s risk assessment quiz is a great feature, and it’s great that it has three different products that you can invest with. It’s simple to use, and a great way to get started with investing if you’re still a beginner.
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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