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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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?

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Moneyfarm

‎Open a stocks and shares ISA with Moneyfarm today

  • Access account any time using the app
  • Get investment advice to help grow your money grow
  • Transfer and withdraw money with no fees
  • Set up your ISA in minutes

Wealthify vs Moneyfarm

WealthifyMoneyfarm
Overall rating★★★★★★★★★★
Markets and products rating★★★★★★★★★★
Costs rating★★★★★★★★★★
Mobile and web features rating★★★★★★★★★★
Learning resources and tools rating★★★★★★★★★★
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What markets and products do they cover?

WealthifyMoneyfarm
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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More Info
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Costs of investing

WealthifyMoneyfarm
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
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Mobile and web features

WealthifyMoneyfarm
Rating★★★★★★★★★★
Desktop/web app
iPhone app
Android app
Share price notifications
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More Info
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Learning resources

WealthifyMoneyfarm
Rating★★★★★★★★★★
Guides and information on products available
Videos and walkthroughs
Demo account
Advice
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More Info
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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.

Wealthify

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
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Compare platforms similar to Wealthify and Moneyfarm

Table: sorted by promoted deals first
Data indicated here is updated regularly
Name Product Price per trade Frequent trader rate Platform fees Brand description
Fineco
£2.95
£2.95
Zero platform fee
Fineco Bank is good for share traders and investors looking for a complete platform and wide offer. Your first 50 trades are free with Fineco, until 30/09/2020. T&Cs apply. Capital at risk.
IG
0% commission on US shares, and £3 on UK shares
From £5
£0 - £24 per quarter
IG is good for experienced traders, and offers learning resources for beginners, all with wide access to shares, ETFs and funds. Capital at risk.
Hargreaves Lansdown Fund and Share Account
£11.95
£5.95
No fees
Hargreaves Lansdown is the UK's number one platform for private investors, with the depth of features you'd expect from an established platform. Capital at risk.
eToro Free Stocks
0% commission, no markup, no ticket fee, no management fee
N/A
Withdrawal fee & GDP to USD deposit conversion
eToro is good for social trading - letting you mirror the portfolios of other traders. Capital at risk. 0% commission but other fees may apply.
Interactive Investor
From £7.99 on the Investor Service Plan
From £7.99 on the Investor Service Plan
No transfer fees or exit fees. £9.99 a month on the Investor Service Plan
Capital at risk.
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Compare up to 4 providers

Data indicated here is updated regularly
Name Product Minimum deposit Maximum annual fee Price per trade Brand description
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.
Interactive Investor stocks and shares ISA
£100 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.
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.
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.
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Compare up to 4 providers

Data indicated here is updated regularly
Name Product Minimum investment Choose from Annual fee Brand description
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
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.
Interactive Investor Pension
£25/month
Over 2,500 funds
£10/month
interactive investor is a flat-fee platform, which makes it cost effective for larger portfolios. 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.
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.
Moneybox Pension
£1
3 funds
0.15% - 0.45% charged monthly
Manage your money with an easy-to-use Moneybox app. Capital at risk.
Moneyfarm Pension
Moneyfarm Pension
0.35%-0.75%
7 funds
£1,500 (initial investment)
Moneyfarm has pensions that are matched against your risk appetite, goals and planned retirement date. 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. Capital is at risk.

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