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Nutmeg vs Wealthify
Find out how investing platforms Nutmeg and Wealthify compare for costs and features. Plus, our verdict on which is best.
Both Nutmeg and Wealthify are “robo-advisers”, meaning they offer ready-made portfolios based on your risk appetite, and are generally suited to beginners. But how do they compare on costs and features? We’ve put them side by side.
What's in this guide?
Nutmeg vs Wealthify: Vital statistics
 |  | |
| Finder rating | ★★★★★ | ★★★★★ |
| Customer satisfaction rating | ★★★★★ | ★★★★★ |
| Costs rating | ★★★★★ | ★★★★★ |
| Stocks and shares ISA available? | ||
| FSCS protected? | ||
| Go to site More Info | Go to site More Info |
You can open a stocks and shares individual savings account (ISA) to invest up to £20,000 tax free (in the 2021/2022 tax year) with both Nutmeg and Wealthify. Both providers are protected by the Financial Services Compensation Scheme (FSCS). This means you’re covered up to £85,000 on your deposits if they were to go bust.
Round 1: Products
| | |
| Stocks and shares ISA | ||
| Lifetime ISA (LISA) | ||
| Pension | ||
| Go to site More Info | Go to site More Info |
As we mentioned above, you can open a stocks and shares ISA with Nutmeg and Wealthify. They also both have private pensions available, which lets you save up for your retirement and get a top up from the government. The money is locked in until you turn 55, though.
Nutmeg lets you invest in a lifetime ISA (LISA). This lets you save up up £4,000 per year for your first home or for retirement. The government contributes £1,000 for every £4,000 invested. You can’t do this with Wealthify.
- Winner: Nutmeg
Round 2: Portfolios
| | |
| Portfolios rating | ★★★★★ | ★★★★★ |
| Risk assessment quiz | ||
| Number of portfolios on offer | 30 | 10 |
| Ethical portfolios on offer | ||
| Managed portfolios on offer | ||
| Go to site More Info | Go to site More Info |
Wealthify’s portfolio offering is huge compared with other robo-advisors with 10 portfolios to choose between. It’s got the Wealthify original portfolio and an ethical portfolio. You can choose from 5 risk profiles with each one.
Nutmeg has a total of 30 portfolios. It’s got four options, each with 5 or 10 risk options to choose between. Both have fully managed portfolios and ethical options.
- Winner: Nutmeg
Round 3: Costs
| | |
| Costs rating | ★★★★★ | ★★★★★ |
| Annual cost of investing £10,000 | £100.00 | £82.00 |
| Annual cost of investing £100,000 | £600.00 | £820.00 |
| Annual cost of investing £1m | £6,000.00 | £8,200.00 |
| Go to site More Info | Go to site More Info |
Nutmeg charges based on how much you invest. They have very similar costs, but which one you decide to go with will depend on how much you are investing.
Nutmeg’s fees are pretty simple. For its fully managed portfolio, it charges 0.75% investments up to £100,000 and then 0.35% on investments beyond that. Nutmeg also charges a 0.19% investment fund cost and an average market spread cost of 0.07%.
Wealthify charges a flat rate of 0.6% on your investment amount, plus fund fees of around 0.22% (0.66% for ethical investing).
We got these numbers off the provider websites, so if you want to check out how much your investment will cost you, head over to their sites.
- Winner: Wealthify
Round 4: Features
| | |
| Features rating | ★★★★★ | ★★★★★ |
| Desktop or web access | ||
| iPhone app | ||
| Android app | ||
| In-app news and research | ||
| In-app top-up | ||
| Go to site More Info | Go to site More Info |
Both providers have similar features on offer. In both cases you can view your investments on a desktop browser and in-app. You can top up your account and access news and research within the app for both providers too.
- Winner: Tie
Round 5: Learning resources
| | |
| Resources rating | ★★★★★ | ★★★★★ |
| Guides | ||
| Videos and walkthroughs | ||
| Demo account | ||
| Advice | ||
| Go to site More Info | Go to site More Info |
Nutmeg is slightly better than Wealthify when it comes to learning resources, but neither one has a huge amount on offer. Robo-advisors are often a first step in investing – mostly users go on to research and create their own portfolios. This is made possible with a provider’s learning resources, such as guides, videos, walkthroughs and demo accounts.
Nutmeg and Wealthify both have guides, but neither have demo accounts, videos or walkthroughs.
Nutmeg does have an advisory feature, but it costs extra.
- Winner: Nutmeg
Overall winner: Is Nutmeg better than Wealthify?
These two platforms are pretty similar. Nutmeg has a few more options available, such as the LISA. It also offers investment advice, which Wealthify doesn’t currently offer. Wealthify’s fees tend to be lower for investments up to £100,000. If you’re investing more than £100,000, then Nutmeg is likely to work out cheaper.
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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