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Wealthify vs Moneyfarm
Whether you want to bring in the bacon or increase your wealth, we compare two popular investment platforms aimed to do just that.
Interest rates are sitting pretty low at the moment, which means the money sitting in our savings accounts is gathering little more than dust. As a result, more and more people are turning to investing to get more from their money.
Digital “robo-advisors” are starting to pop up all over the place, allowing newbies to get involved with investing without a huge amount of knowledge, research or even money.
Two examples are Moneyfarm and Wealthify, digital investment platforms that aim to make investing easy and jargon-free.
But how do they compare against one another?
Wealthify vs Moneyfarm
 |  | |
| Overall rating | ★★★★★ | ★★★★★ |
| Markets and products rating | ★★★★★ | ★★★★★ |
| Costs rating | ★★★★★ | ★★★★★ |
| Mobile and web features rating | ★★★★★ | ★★★★★ |
| Learning resources and tools rating | ★★★★★ | ★★★★★ |
| Go to site More Info | Go to site More Info |
What markets and products do they cover?
| | |
| 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 | ||
| Go to site More Info | Go to site More Info |
Costs of investing
| | |
| Rating | ★★★★★ | ★★★★★ |
| Cost of investing £10,000 | £82.00 | £104.00 |
| Cost of investing £100,000 | £820.00 | £640.00 |
| Cost of investing £1m | £8,200.00 | £6,400.00 |
| Average cost per £100 | £0.82 | £0.77 |
| Go to site More Info | Go to site More Info |
Mobile and web features
| | |
| Rating | ★★★★★ | ★★★★★ |
| Desktop/web app | ||
| iPhone app | ||
| Android app | ||
| Share price notifications | ||
| Go to site More Info | Go to site More Info |
Learning resources
| | |
| Rating | ★★★★★ | ★★★★★ |
| Guides and information on products available | ||
| Videos and walkthroughs | ||
| Demo account | ||
| Advice | ||
| Go to site More Info | Go to site More Info |
Best for
All-rounder
Best for
Low-cost trading
Best for
US shares
Best for
Beginners
Wealthify vs Moneyfarm: Costs
Moneyfarm has something called “tiered charging” – this just means that you are charged at different rates based on how much you invest.
Moneyfarm charges 0.75% for investments up to £10,000, 0.60% on investments between £10,001 and £50,000, 0.50% on investments between £50,001 and £100,000 and 0.35% for investments over £100,000. There are also fund fees charged by the ETF providers of 0.20% and a market spread fee of up to 0.09%.
Wealthify charges a flat rate of 0.6% on your investment amount, plus fund fees of around 0.22% (0.66% for ethical investing).
That’s a lot of numbers, but what does it all actually mean?
If you invest £10,000 with Moneyfarm then you’ll spend £104 (in a year)
If you invest £10,000 with Wealthify then you’ll spend £82 (in a year)
If you want to check these kinds of stats out yourself with the amount of money you have to invest, then you can do so on both provider websites.
Our verdict: Is Wealthify better than Moneyfarm?
These two platforms have very similar features, so no matter which one you go with, you’ll have a pretty similar experience. Wealthify’s fees tend to be lower for investments up to £100,000. If you’re investing more than £100,000 then Moneyfarm will cost you less.
If you’re set on ethical investing, Moneyfarm doesn’t have this option available, so you’ll want to look further into Wealthify or explore other platforms. One major thing Moneyfarm has that Wealthify doesn’t is the ability to give financial advice. Moneyfarm has a blend of automation and real advice, which means that you can ask an actual human being for help with your investments.
Open an account with Wealthify and start investing today
- Start investing with as little as you want
- Withdraw your money anytime
- Download the app for free
- Refer a friend and get £25
Compare platforms similar to Wealthify and Moneyfarm
Table: sorted by promoted deals first
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. Capital is at risk.
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