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.

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With interest rates sitting pretty low at the moment, 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? We’ve pitted them against each other to find out who comes out on top.

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Moneyfarm

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Wealthify vs Moneyfarm: Vital statistics

WealthifyMoneyfarm
Finder rating (overall)★★★★★★★★★★
Customer satisfaction rating★★★★★★★★★★
Costs rating★★★★★★★★★★
Stocks and shares ISA available?
FSCS protected
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Wealthify and Moneyfarm are really similar platforms. You can invest in a stocks and shares individual savings account (ISA) with both providers. These let you invest up to £20,000 tax free (in the 2020/2021 tax year).

They’re also both protected by the Financial Services Compensation Scheme (FSCS). This gives you protection for up to £85,000 of deposits if the companies go bust.

In the Finder 2021 customer survey, Wealthify’s customers found its platform to be easy to use, to have low fees and praised its great customer service.

Meanwhile, Moneyfarm’s customers were just as complementary, saying that it’s easy to use, has low fees and great value.

Round 1: Products

WealthifyMoneyfarm
Stocks and shares ISA
Lifetime ISA (LISA)
Pension
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Looking at products, these providers have the same ones on offer. You can invest in a stocks and shares ISA with both providers as well as a private pension.

You can’t get a lifetime ISA (LISA) with either provider. 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. If this is what you’re looking for, consider Hargreaves Lansdown or Nutmeg. We’ve got a comparison of these platforms too.

  • Winner: Tie

Round 2: Portfolios

WealthifyMoneyfarm
Portfolios rating★★★★★★★★★★
Risk assessment quiz
Number of portfolios on offer107
Ethical portfolios on offer
Managed portfolios on offer
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The portfolio offering for Wealthify and Moneyfarm are pretty similar, but there are some key things to consider. Wealthify has the most portfolios available, with a huge 10 to choose from, including ethical choices and fully managed portfolios.

Moneyfarm has a risk assessment quiz. This is where it asks you a range of questions about your investment knowledge, your goals, your savings and how you feel about risk. At the end, it suggests a portfolio for you to invest in.

Moneyfarm doesn’t have any ethical options, and only has 7 portfolios. They are all fully managed, though.

  • Winner: Wealthify

Round 3: Costs

WealthifyMoneyfarm
Costs rating★★★★★★★★★★
Annual cost of investing £10,000£82.00£104.00
Annual cost of investing £100,000£820.00£640.00
Annual cost of investing £1m£8,200.00£6,400.00
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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).

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.

  • Winner: Wealthify

Round 4: Features

WealthifyMoneyfarm
Features rating★★★★★★★★★★
Desktop or web access
iPhone app
Android app
In-app news and research
In-app top-up
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Another category where both providers are virtually the same is features. They both tick all of our boxes – you can see your investments both on desktop and in a mobile app (both Android and iPhone are available).

Both providers have in-app news and research and they let you top up in the app too.

  • Winner: Tie

Round 5: Learning resources

WealthifyMoneyfarm
Resources rating★★★★★★★★★★
Guides
Videos and walkthroughs
Demo account
Advice
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If you’re interested in learning about investing, you’ll want a provider that has some decent learning resources available. Moneyfarm has guides, videos and walkthroughs to help you learn how to invest. It’s also got an advisory service available, at a cost.

Wealthify doesn’t have as much. It’s got a few guides, but that’s all.

  • Winner: Moneyfarm

Overall winner: 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.

Wealthify

Open an account with Wealthify and start investing today

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Compare platforms similar to Wealthify and Moneyfarm

Table: sorted by promoted deals first
Name Product Minimum deposit Maximum annual fee Price per trade Brand description
InvestEngine stocks and shares ISA
£100
0.25%
£0
Offer - £50 welcome bonus for new customers. Subject to minimum investment. T&Cs apply. Capital at risk.
Moneybox stocks and shares ISA
£1
0.45% and £1 monthly subscription fee (free for first 3 months)
£0
Moneybox offers a smart and simple way to invest. Sign up in minutes and start investing with £1 via their award-winning app. Capital at risk.
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.
Nutmeg stocks and shares ISA
£100
0.75%
N/A
Nutmeg offers three types of portfolios. Choose the one that goes with your investment style. 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.
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.
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.
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.
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.
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Compare up to 4 providers

Name Product Minimum investment Choose from Fee for a £50,000 pension pot Brand description
Interactive Investor Pension
Any lump sum or £25 a month
Over 3,000 funds
Annual fee: £239.88, fund fees: £50-500
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
Annual fee: £125, includes fund fees
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
9 funds
Annual fee: £250-475, includes fund fees
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
Annual fee: £225 (£200 cap if holding shares), fund fees included
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
Annual fee: £375-455, fund fees included
Moneybox Pension
£1
3 funds
Annual fee: £225, fund fee: £60
Manage your money with an easy-to-use Moneybox app. Capital at risk.
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Compare up to 4 providers

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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