Wealthify pension review

Wealthify lets you invest in a self invested personal pension (SIPP) without lifting a finger. You can choose between its portfolios based on how much risk you want to be exposed to and whether you fancy investing ethically.

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What is Wealthify?

Wealthify is a mobile and app-based investment platform which offers simple and effortless ways to invest. It’s technically a “robo-investor” despite not being fully automated.

Wealthify is backed by Aviva, which acquired a majority stake in 2017.

How does the Wealthify pension work?

Wealthify offers a self-invested personal pension (SIPP). It differs from your average SIPP as it’s designed for people with no investment experience. Instead, you make use of its team of investment experts who build and manage your pension plan. This means that you don’t need to worry about selecting your own investments, all you have to do is choose a risk profile.

The risk profiles (known as “investment styles”) are:

Cautious. Lowest risk. This aims to minimise loss. It aims to beat inflation.
Tentative. Low to medium risk. This style aims to limit losses. It aims for reasonable growth.
Confident. Medium risk. This style balances gains against minimising loss. It aims to achieve good growth.
Ambitious. Medium to high risk. The priority of this style is to make gains. It aims to achieve high growth.
Adventurous. Highest risk. The priority of this style is to maximise gains. It aims to achieve the highest possible growth.

Can I invest ethically in Wealthify’s pension?

When signing up, you get the option to choose your investment “theme”. You can choose between “original” which includes Wealthify’s classic investments from the UK and overseas, and “ethical” which is a mix of environmentally and socially responsible investments. This makes it easier to align your values with your investments.

How much does the Wealthify pension cost?

The fees for Wealthify’s pension is the same as for its other products. You pay a percentage of the total value of your investments for its annual fee plus any investment costs, such as fund charges and market spread.

The flat rate is 0.6%, and the investment costs work out at around 0.16% for Original Plans and 0.7% for Ethical.

Can I transfer over an existing pension to Wealthify?

If you’ve already got a pension with another provider, you can transfer it in or you can create a new personal pension alongside those that you already have.

Is Wealthify safe?

Wealthify is authorised and regulated by the Financial Conduct Authority (FCA), which means you could be entitled to compensation if it is found to be acting improperly.

Wealthify is also covered by the Financial Services Compensation Scheme, which means that you can receive compensation on investments up to £85,000 if Wealthify were to go bust.

It is part of the Close Brothers Group, who have been trading for over 130 years, and are backed by leading financial provider and insurer Aviva.

Compare SIPP providers

1 - 6 of 6

Name	Product	Brand description	Min investment	Min monthly investment	Number of funds	Offer	Link
Wealthify Pension Wealthify Pension			£50	£0	10 Portfolios		Go to site Capital at risk Platform details	loading Fetching your data...
NO FEE Interactive Investor SIPP Interactive Investor SIPP	NO FEE		£0	£25	3000	Get £200 cashback when you open a SIPP. Offer ends 30 April. Capital at risk. T&Cs apply. Min £15k investment. New customers only.	Go to site Capital at risk Platform details	loading Fetching your data...
Hargreaves Lansdown SIPP Hargreaves Lansdown SIPP		Hargreaves Lansdown is the UK's biggest wealth manager. It's got three different retirement options. Capital at risk.	£100	£25	2500		Go to site Capital at risk Platform details	loading Fetching your data...
BONUS Penfold SIPP Penfold SIPP	BONUS		£0	£0	4 Portfolios	Bonus of up to £1000 for your pension when tranferring to Penfold	Go to site Capital at risk Platform details	loading Fetching your data...
Moneyfarm SIPP Moneyfarm SIPP		Moneyfarm has pensions that are matched against your risk appetite, goals and planned retirement date. Capital at risk.	£1,500	£0	7		Go to site Capital at risk Platform details	loading Fetching your data...
AJ Bell SIPP AJ Bell SIPP		AJ Bell has two different pension options, a self managed pension and one that is managed for you. Capital at risk.	£1,000	£0	2000		Go to site Capital at risk Platform details	loading Fetching your data...

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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.

Thank you for your feedback!

Zoe Stabler DipFA

Zoe was a senior writer at Finder specialising in investment and banking, and during this time, she joined the Women in FinTech Powerlist 2022. She is currently a senior money writer at Be Clever With Your Cash. Zoe has a BA in English literature and a Diploma for Financial Advisers. She has several years of experience in writing about all things personal finance. Zoe has a particular love for spreadsheets, having also worked as a management accountant. In her spare time, you’ll find Zoe skating at her local ice rink.

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