InvestEngine review | Is InvestEngine any good? - Finder UK

InvestEngine review

Find out how InvestEngine works, some pros and cons and how much it costs.

InvestEngine

InvestEngine is a new investment platform that invests your money for you in fully managed ready made portfolios. Find out what we thought of InvestEngine, the types of investments available and what it’s got up its sleeve for the future.

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InvestEngine

Save and invest with InvestEngine

  • Get a £50 welcome bonus
  • Don't worry about dealing fees
  • Manage your account yourself or let specialists do it for you

What does InvestEngine do?

InvestEngine is an investment platform commonly known as a robo-advisor. This means it builds and manages ready-made investment portfolios for you in exchange for a fee. You can choose between growth portfolios and income portfolios.

Growth portfolios

Growth portfolios have a primary goal of capital growth, which is to mean that the main goal is for the value of the stocks to rise. Any companies in these portfolios tend to reinvest their earnings into growing the company, such as through expansion, acquisitions and further research.

Income portfolios

Income portfolios have a primary goal of providing a regular income. Any income received from investing in this type of portfolio is often paid into your nominated bank account. The amount varies depending on the dividends received from the exchange traded funds (ETFs) in your portfolio.

What products does InvestEngine offer?

You can invest in a general investment account (GIA), known as the “personal account”, an individual savings account (ISA) and a business account.

There are only ready-made portfolios on offer at the moment but InvestEngine is working on adding a do-it-yourself option if you fancy building a portfolio yourself.

InvestEngine ready made portfolios

InvestEngine’s ready made portfolios are fully managed. As with other robo-advisors like Moneyfarm and Nutmeg, your portfolio depends on your appetite to risk. It asks you a set of questions that helps the platform understand how you feel about risk to suggest a portfolio for you.

InvestEngine automatically rebalances your portfolio to ensure that it stays aligned to your investment plan. It’s investment team keeps an eye on your portfolio to make sure it remains well-positioned for the latest market conditions.

InvestEngine fees

InvestEngine has a (relatively) simple fee structure.

FeeWhat’s it for?Amount for income portfoliosAmount for growth portfolios
Platform feeFor building and managing your investment portfolio for you. 0.25%0.25%
ETF chargeA charge for investing in exchange traded funds.Around 0.25% per yearAround 0.15% per year
Market spreadThe difference between the purchase price and selling price of the ETFs in your portfolio.Around 0.07% per yearAround 0.07% per year
Setup feeA fee for setting up your account£0£0
Dealing feeThe cost of buying or selling financial instruments£0£0
ISA feeThe cost of having an individual savings account (ISA) tax wrapper on your account.£0£0
Withdrawal feeA fee to withdraw your money from your InvestEngine account£0£0

The minimum amount you can deposit into your account is £100.

What does this actually mean?

A £1,000 investment will incur fees of around £5.70 with an income portfolio while the growth portfolio would cost you around £4.70 for a £1,000 investment.

A £10,000 investment will incur fees of around £57 if you’re invested in an income portfolio and around £47 for growth portfolios.

InvestEngine mobile and web apps

InvestEngine can be accessed on its website as well as with a mobile app. You can top-up within the app and see your dashboard to manage your account. It lets you see what you’re invested in and a percentage of how much of your portfolio is in each investment.

It’s also got some handy in-app calculators to help you understand how your savings could grow based on one-off investments, how much you plan to invest each month, your risk profile and timeline.

InvestEngine has a UK based support team that can be accessed via email, over the phone and with an online form.

Is InvestEngine safe?

InvestEngine is authorised and regulated by the Financial Conduct Authority (FCA) and covered by the Financial Services Compensation Scheme (FSCS). This means that if InvestEngine were to go bust, you’d be covered for up to £85,000 of your deposits.

Pros and cons of InvestEngine

Pros

  • Has a current onboarding offer of £50 for new customers that register and build a portfolio with InvestEngine
  • Relatively low fees compared with other robo-advisors.
  • The suggested portfolio created by the risk questionnaire gives a lot of detail about the portfolio suggested.

Cons

  • The non tiered fee structure could prove to be more expensive for investors with a lot of money to invest.
  • The risk questionnaire uses a lot of investing jargon that might confuse newbies.

Our verdict: Is InvestEngine any good?

InvestEngine is pretty new to the investing game. It’s a fresh take on the robo-advisors we’re familiar with, like Nutmeg, Wealthify and Moneyfarm. Its set fee structure is refreshing but could prove to be expensive for anyone investing large sums (we’re talking upwards of £100,000).

It would be nice to see more about the individual portfolios and how they invest. We’d also love to see some more ethical or environmental portfolios with the rise of ESG investing.

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Data updated regularly
Name Product Minimum deposit Maximum annual fee Price per trade Brand description
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£1
0.45% and £1 monthly subscription fee (free for first 3 months)
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interactive investor stocks and shares ISA
Any lump sum or £25 a month
£119.88
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Interactive Investor offers everything most investors need. Its flat fees makes it pricey for small portfolios, but cheap for big ones. Capital at risk.
Nutmeg stocks and shares ISA
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Hargreaves Lansdown stocks and shares ISA
£100
0.45%
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InvestEngine stocks and shares ISA
£100
0.25%
£0
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Moneyfarm stocks and shares ISA
£1500
0.75%
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Fidelity Stocks and Shares ISA
£1000 or a regular savings plan from £50
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£10.00
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Legal & General stocks and shares ISA
Legal & General stocks and shares ISA
£100 or £20 a month
0.61%
N/A
Legal & General is a big financial services company which offers insurance, lifetime mortgage, pensions and stocks and shares ISAs. Capital at risk.
AJ Bell Stocks and Shares ISA
£500
0.25%
£9.95
AJ Bell is a good all-rounder for people who to choose between shares, funds, ISAs and pensions. Capital at risk.
Saxo Markets stocks and shares ISA
No minimum deposit requirement
0.12%
£8.00
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Data updated regularly
Name Product Price per trade Frequent trader rate Platform fees Brand description
Fineco
UK: £2.95
US: $3.95
EU: €3.95
N/A
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Your first 100 trades are free with Fineco (T&Cs apply)
Fineco Bank is good for share traders and investors looking for a complete platform and wide offer. The minimum deposit with Fineco is £0. Capital at risk.
eToro Free Stocks
£0
N/A
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Capital at risk. 0% commission but other fees may apply. The minimum deposit with eToro is $200.
Hargreaves Lansdown Fund and Share Account
£11.95
£5.95
£0
Hargreaves Lansdown is the UK's number one platform for private investors, with the depth of features you'd expect from an established platform. The minimum deposit with HL is £1. Capital at risk.
Degiro Share Dealing
UK: £1.75 + 0.014% (max £5)
US: €0.50 + $0.004 per share
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Degiro is widely seen as one of the best low-cost share brokers, for people who are looking to trade regularly. The minimum deposit with Degiro is £0. Capital at risk.
interactive investor Trading Account
£7.99 (with one free trade per month)
N/A
£9.99 per month
Interactive Investor offers everything most investors need. Its flat fees makes it pricey for small portfolios, but cheap for big ones. The minimum deposit with ii is £0. Capital at risk.
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Data updated regularly
Name Product Minimum investment Choose from Fee for a £50,000 pension pot Brand description
Interactive Investor Pension
Any lump sum or £25 a month
Over 3,000 funds
Annual fee: £239.88, fund fees: £50-500
interactive investor is a flat-fee platform, which makes it cost effective for larger portfolios. Capital at risk.
Moneyfarm Pension
£1,500 (initial investment)
7 funds
0.35%-0.75%
Moneyfarm has pensions that are matched against your risk appetite, goals and planned retirement date. Capital at risk.
AJ Bell Pension
£1,000
Over 2,000 funds
Annual fee: £125, includes fund fees
AJ Bell has two different pension options, a self managed pension and one that is managed for you. Capital at risk.
PensionBee Pension
No minimum
9 funds
Annual fee: £250-475, includes fund fees
Pension Bee is a newbie in the pension market. It helps consolidate your pension plans into one place. Capital at risk.
Hargreaves Lansdown Pension
£100 or £25 a month
2,500 funds
Annual fee: £225 (£200 cap if holding shares), fund fees included
Hargreaves Lansdown is the UK's biggest wealth manager. It's got three different retirement options. Capital at risk.
Saxo Markets Pension
Saxo Markets Pension
£10
Over 11,000 funds
No annual fee
Saxo Markets gives flexibility and control over your investment strategy. Capital at risk.
Penfold
Penfold
No minimum
4 portfolios
Annual fee: £375-455, fund fees included
Moneybox Pension
£1
3 funds
Annual fee: £225, fund fee: £60
Manage your money with an easy-to-use Moneybox app. Capital at risk.
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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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