Wealthsimple pension review

Find out what we thought of the Wealthsimple private pension

Wealthsimple is an investment provider. It offers individual savings accounts (ISAs), junior ISAs (JISAs) and pensions. The Wealthsimple pension is pretty similar to its other products, except you can’t withdraw until you turn 55.

Features of the Wealthsimple private pension

  • Combine your existing pension pots
  • Access qualified pension advisors
  • Have your portfolio built to match your risk profile
  • See your pension alongside your other accounts

Wealthsimple pension fees

The amount you pay depends on the amount of money you invest. This also determines which tier of account you have.

Amount investedAnnual fee
£0 – £100,0000.7%
More than £100,0000.5%

Wealthsimple account tiers

You don’t pay more for more features with Wealthsimple as other providers usually offer. Instead, the tier that you fit in and the features you receive are based on how much you invest.

Of course, this means that Wealthsimple makes more money from you, but you get a lower investment fee overall.

Wealthsimple BasicWealthsimple BlackWealthsimple Generation
Amount investedUp to £100,000Between £100,000 and £500,000More than £500,000
Fees0.7%0.5%0.5%
Customised portfolio
Investment advice
Automatic rebalancing
Dividend reinvestment
Pay in via direct debit
Investment consultations
Dedicated investment advisor
Ongoing portfolio monitoring
Portfolio and pension reviews

What can I invest in with a Wealthsimple pension?

With Wealthsimple, you choose between three different risk profiles

  • Conservative
  • Balanced
  • Growth

Depending on which one you choose, Wealthsimple will build a portfolio for you. Below is an example of how your portfolio might be built based on the different risk profiles available.

Pros and cons of the Wealthsimple pension

Pros

  • Custom portfolio based on your goals
  • Can choose a socially responsible portfolio
  • Easy and quick to set up

Cons

  • Can only invest in ready made funds
  • Higher fees than other pension providers

Compare pension providers

Table: sorted by promoted deals first
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
Finder Award
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.
Wealthify Pension
£50
10 portfolios
Annual fee: 0.6%, Investment cost: 0.12%-1.02% depending on the plan
Penfold
Penfold
No minimum
4 portfolios
Annual fee: £375-455, fund fees included
Moneybox Pension
Finder Award
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

Name Product Price per trade Frequent trader rate Platform fees Brand description
eToro Free Stocks
£0
N/A
£0
Capital at risk. 0% commission but other fees may apply. The minimum deposit with eToro is $50.
IG Share Dealing
UK: £8
US: £10
EU: 0.1% (min €10)
UK: £3
US: £0
EU: 0.1% (min €10)
£0
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
£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.
Freetrade
Finder Award
Freetrade
£0
N/A
£0
Claim your free share worth between £3 and £200. Capital at risk.
Degiro Share Dealing
UK: £1.75 + 0.014% (max £5)
US: €0
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)
£0
£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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Compare up to 4 providers

Name Product Ratings Finder rating Customer rating Minimum deposit Maximum annual fee Price per trade Offer Brand description Link
IG Stocks and shares ISA
Finder score
★★★★★
User survey
★★★★★
★★★★★
Expert analysis
★★★★★
User survey
£0
0.5%
UK: £3
US: $0
Go to site
View details
FREE TRADES
Fineco stocks and shares ISA
Finder score
★★★★★
User survey
★★★★★
★★★★★
Expert analysis
★★★★★
User survey
£0
0.25%
UK: £2.95
US: $3.95
EU: €3.95
Get £500 in trading commissions to use in the first 3 months (T&Cs apply)
Go to site
View details
Finder Award
FREE TRADES
Freetrade stocks and shares ISA
Finder score
★★★★★
User survey
★★★★★
★★★★★
Expert analysis
★★★★★
User survey
£2
£36
£0
Claim your free share worth between £3 and £200. Capital at risk.
Go to site
View details
Moneybox stocks and shares ISA
Finder score
★★★★★
User survey
★★★★★
★★★★★
Expert analysis
★★★★★
User survey
£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.
Go to site
View details
OFFER
Scottish Friendly stocks and shares ISA
Not yet rated
Not yet rated
Not yet rated
£100 or £10 a month
1.5%
N/A
Welcome offer: Get up to £45 when you start investing (T&Cs apply)
Go to site
View details
OFFER
InvestEngine stocks and shares ISA
Finder score
★★★★★
★★★★★
Expert analysis
Not yet rated
£100
0.25%
£0
£50 welcome bonus for new customers. Subject to minimum investment. T&Cs apply. Capital at risk.
Go to site
View details
Hargreaves Lansdown stocks and shares ISA
Finder score
★★★★★
User survey
★★★★★
★★★★★
Expert analysis
★★★★★
User survey
£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.
Go to site
View details
interactive investor stocks and shares ISA
Finder score
★★★★★
User survey
★★★★★
★★★★★
Expert analysis
★★★★★
User survey
£9.99 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. T&Cs apply.
Go to site
View details
Nutmeg stocks and shares ISA
Finder score
★★★★★
User survey
★★★★★
★★★★★
Expert analysis
★★★★★
User survey
£500
1.12%
N/A
Nutmeg offers three types of portfolios. Choose the one that goes with your investment style. Capital at risk.
Go to site
View details
Moneyfarm stocks and shares ISA
Finder score
★★★★★
★★★★★
Expert analysis
Not yet rated
£500
0.75%
£0
Moneyfarm helps you meet your investment goals with fully-managed portfolios designed around you. Capital at risk.
Go to site
View details
Fidelity Stocks and Shares ISA
Finder score
★★★★★
User survey
★★★★★
★★★★★
Expert analysis
★★★★★
User survey
£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.
Go to site
View details
Wealthify stocks and shares ISA
User survey
★★★★★
Not yet rated
★★★★★
User survey
£1
0.6%
N/A
Fees-free investing for a year if you sign up in January 2022
Go to site
View details
Legal & General stocks and shares ISA
Legal & General stocks and shares ISA
Not yet rated
Not yet rated
Not yet rated
£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.
View details
AJ Bell Stocks and Shares ISA
Finder score
★★★★★
User survey
★★★★★
★★★★★
Expert analysis
★★★★★
User survey
£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.
Go to site
View details
Saxo Markets stocks and shares ISA
Finder score
★★★★★
★★★★★
Expert analysis
Not yet rated
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.
Go to site
View details
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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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