Wealthify vs Moneybox - Finder UK

Wealthify vs Moneybox

These platforms offer similar things at similar prices, with a few very slight differences.

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App-based (or “robo”) investing is popular at the moment. It only takes a couple of taps and you’re off, with automation (and some people power) doing all the work for you. It can all be done from the comfort of your sofa (as can everything these days), and you don’t need loads of experience or money to get started. There are plenty of options out there for you to choose from, two of which are Wealthify and Moneybox.

But how do they compare?

Wealthify vs Moneybox

WealthifyMoneybox
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You say★★★★★★★★★★
ISA available?
Financial instruments★★★★★★★★★★
Costs rating★★★★★★★★★★
Mobile and web features rating★★★★★★★★★★
Learning resources and tools rating★★★★★★★★★★
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What markets and products do they cover?

WealthifyMoneybox
Rating★★★★★★★★★★
Risk assessment quiz
3 or more portfolios
5 or more portfolios
ETFs
Stocks and shares ISA
Pension (SIPP)
Lifetime ISA (LISA)
Junior products
Ethical investing
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Costs of investing

WealthifyMoneybox
Rating★★★★★★★★★★
Cost of investing £10,000£82.00£87.00
Cost of investing £100,000£820.00£762.00
Cost of investing £1m£8,200.00£7,512.00
Average cost per £100£0.82£0.79
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Mobile and web features

WealthifyMoneybox
Rating★★★★★★★★★★
iPhone app
Android app
Desktop/web app
Notifications
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Learning resources

WealthifyMoneybox
Rating★★★★★★★★★★
Guides
Videos
Demo account
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Wealthify vs Moneybox: Costs

Wealthify charges based on how much you invest, this is called “tiered charging”.

It charges 0.7% on investments up to £15,000, 0.6% on investments between £15,001 and £50,000, 0.5% on investments between £50,001 and £100,000 and 0.4% on investments over £100,000. On top of these fees is a transaction cost of 0.12% and a fund fee of 0.21%.

Moneybox charges slightly differently. There’s a £1 per month fixed subscription fee (free for the first 3 months). As well as this, it charges a platform fee 0.45% annually and between 0.12% and 0.30% fund provider fees.

What does that all actually mean?
If you invest £10,000 with Wealthify then you’ll spend £82 (in a year).
If you invest £10,000 with Moneybox then you’ll spend around £87 (in a year).

For Wealthify, we got these numbers from the website, so if you want to check how much your investment will cost you, that’s where you can find out. Moneybox doesn’t have a cost calculator, so this was worked out the old fashioned way (£45 platform fee + £12 subscription fee + £30 fund provider fees).

Our verdict: Is Wealthify better than Moneybox?

These two platforms have very similar offerings, with the ability to choose pre-made portfolios based on your attitude to risk. If you’re planning on opening a lifetime ISA, you can only do this with Moneybox, out of these two. Meanwhile, Wealthify is the only one of the two that you can access via a web browser, so if app-only investing isn’t for you, Wealthify is your best bet.

They both have very similar fees (there’s a fiver in it), but this depends on how much you invest, so make sure you take a look at their sites to work out how much your investments will cost you (or get out a calculator, for Moneybox).

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Compare platforms similar to Wealthify and Moneybox

Table: sorted by promoted deals first
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
£0
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
£0
Capital at risk. 0% commission but other fees may apply. The minimum deposit with eToro is $500.
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
N/A
£0
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 deposit Maximum annual fee Price per trade Brand description
interactive investor Stocks and Shares ISA
Any lump sum or £25 a month
£119.88
£7.99
Interactive Investor offers everything most investors need. Its flat fees makes it pricey for small portfolios, but cheap for big ones. Capital at risk.
Moneyfarm stocks and shares ISA
£1500
0.75%
£0
Moneyfarm helps you meet your investment goals with fully-managed portfolios designed around you. Capital at risk.
Hargreaves Lansdown Stocks and Shares ISA
£100
0.45%
£11.95
Hargreaves Lansdown is the UK's biggest wealth manager. It's got everything you'll need, from beginners to experienced investors. Capital at risk.
Nutmeg stocks and shares ISA
£100
0.75%
£0
Nutmeg offers three types of portfolios. Choose the one that goes with your investment style. Capital at risk.
Saxo Markets Stocks and Shares ISA
No minimum deposit requirement
0.12%
£8.00
Saxo Markets offers a wide access to a range of stocks, ETFs and funds. 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.
Fidelity Stocks and Shares ISA
£1000 or a regular savings plan from £50
0.35%
£10.00
Fidelity is another good all-rounder, offering a good package at a decent price. Not suited for trading shares. Capital at risk.
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.
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Data updated regularly
Name Product Minimum investment Choose from Annual fee Brand description
Interactive Investor Pension
Any lump sum or £25 a month
Over 3,000 funds
£10/month
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
0.05-0.25%
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
7 funds
0.5% - 0.95%
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
0-0.45%
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
0.75-0.88%
Moneybox Pension
£1
3 funds
0.15% - 0.45% charged monthly
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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