Best for
Mobile
Wealthify vs Wealthsimple
They’re both focused on increasing your wealth, and they offer very similar things, but how do they compare?
What's in this guide?
Wealthsimple and Wealthify are two examples of “robo-advisors”, which means that ultimately, they’ll manage all the investments for you. Not all robo-advising is automated, there’s not necessarily a Dalek choosing what you invest in (although that would be cool and a little unsettling). In the case of Wealthsimple, there are real human beings available to monitor your portfolios. There’s generally at least a little bit of human input with robo-advisors.
Wealthify vs Wealthsimple
 |  | |
| We say | ★★★★★ | ★★★★★ |
| You say | ★★★★★ | ★★★★★ |
| ISA available? | ||
| Financial instruments | ★★★★★ | ★★★★★ |
| Costs rating | ★★★★★ | ★★★★★ |
| Mobile and web features rating | ★★★★★ | ★★★★★ |
| Learning resources and tools rating | ★★★★★ | ★★★★★ |
| Go to site More Info | 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 | More Info |
Costs of investing
| | |
| Rating | ★★★★★ | ★★★★★ |
| Cost of investing £10,000 | £82.00 | £70.00 |
| Cost of investing £100,000 | £820.00 | £500.00 |
| Cost of investing £1m | £8,200.00 | £5,000.00 |
| Average cost per £100 | £0.82 | £0.57 |
| Go to site More Info | More Info |
Mobile and web features
| | |
| Rating | ★★★★★ | ★★★★★ |
| iPhone app | ||
| Android app | ||
| Desktop/web app | ||
| Notifications | ||
| Go to site More Info | More Info |
Learning resources
| | |
| Rating | ★★★★★ | ★★★★★ |
| Guides | ||
| Videos | ||
| Demo account | ||
| Go to site More Info | More Info |
Best for
Low-cost
Best for
Beginners
Best for
Funds
Wealthify vs Wealthsimple: Costs
Wealthsimple charges fees based on the amount that you invest. It also offers additional benefits when you invest more than £100,000 and when you invest more than £500,000, such as airport lounge access.
Investments up to £100,000 have a 0.7% fee, plus additional charges at an average of 0.2%. Investments above £100,000 have a 0.5% fee plus additional charges at an average of 0.2%. Anything over £500,000 costs the same, but you get a dedicated investment advisor with ongoing portfolio monitoring.
Wealthify charges a flat rate of 0.6% on your investment amount, plus fund fees of around 0.22% (0.66% for ethical investing).
So, what does that actually mean?
If you invest £10,000 with Wealthify, then you’ll spend £82 (in a year).
If you invest £10,000 with Wealthsimple, then you’ll spend £90 (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. Wealthsimple doesn’t have a cost calculator, so this was worked out the old fashioned way (£70 fee + £20 additional charges).
Our verdict: Is Wealthify better than Wealthsimple?
These platforms are very similar in what they offer and how much they charge. They’re both great platforms for ready-made portfolios and allow you to choose your investment based on your appetite to risk instead of creating portfolios yourself.
If you’re looking for a trading platform for share dealing, neither of these platforms would necessarily be suitable for you. If you’re looking for a platform that offers advice, then, of these two, Wealthsimple would be the most suitable, although you need to invest over £100,000 to get access to the advice.
Open an account with Wealthify and start investing today
Compare platforms similar to Wealthify and Wealthsimple
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. 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.
More guides on Finder
-
Invest in makeup stocks
Want to add highlight to the foundations of your investment portfolio with makeup stocks? Find out how to invest in makeup and the risks.
-
Sites like Dolls Kill: Unique fashion to suit your style
Calling all fashion misfits! If you love Dolls Kill, you’ll want to know all about these similar UK stores.
-
Mettle vs Monzo business: Which is the best business bank account?
Compare the key differences between Starling and Monzo and discover which is the best business bank for you.
-
Alternatives to eToro | Apps and competitors to Etoro
Looking for some alternatives to eToro? We’ve found some trading platforms that are similar to eToro for you to consider.
-
Alternatives to Trading 212
Find out some alternatives to Trading 212 and what they’re good for. We’ve listed some similar trading platforms to consider.
-
Best pension drawdown
Find out the best pension drawdown for different sized pension pots and different investing aims. We’ve compared the different providers.
-
Invest in the Toronto Stock Exchange
Find out what the Toronto Stock Exchange is, what companies are on it and how you can buy shares on Canada’s largest exchange.
-
What happens to my pension when I die?
What happens to your pension pot after you die depends on the type of pension you’ve got and when you die. Find out what happens to yours.
-
Standard Life pension review
Find out how the Standard Life pension works, the difference between its personal pension and SIPP offerings and the costs.
-
What is the W-8BEN form?
Find out what the W-8BEN form is, how you need to fill it out with your chosen broker and what it’s for when trading US stocks.
Ask an Expert