Our verdict
Overall, we found Wealthify to be a solid robo-advisor platform - it’s improved since the app was redesigned and rebuilt from scratch in late 2022. The platform is useful if you’re not interested in choosing and managing a portfolio, and makes the whole set-up process straightforward.When testing the app, we liked that Wealthify is jargon-free and comes with 5 risk levels to choose from. And, you’re able to invest for yourself, for a child, or for retirement. You can hold multiple types of accounts on the platform, so it’s a great option if you want all your investing under one roof.
The annual percentage fee of 0.6% is on par with most rivals, but using the same fee for the original and the ethical portfolios is a unique touch, making charges simpler. We found opening an account was nice and quick, and you can start with just £1. The obvious downside is that you can’t pick your own investments, but that’s not what Wealthify is about.
- Start with just £1
- Simple fee structure
- Uses a blend of assets and funds for your portfolio
- Recently revamped app
- Lots of ways to contact customer service
- Ethical options
- Limited portfolio range
- £50 minimum for the pension
- Relatively basic passive investing approach
- There are cheaper robo-advisors for large portfolios (over £100,000)