Wealthify Review

Wealthify

Wealthify is a new, effortless and affordable way for Britons to save and invest that is simple, intuitive and jargon-free.

What is Wealthify?

Based in Cardiff, Wealthify is a relatively new robo-advisor that lets you invest as little as £1. To keep a user’s investment management costs to a minimum, they focus on investing in ETFs similar to other robo-advisers (such as Nutmeg, Wealthsimple and Moneyfarm).

Aviva recently bought a majority stake, so it has a big household name as a shareholder which is always a good sign of stability for the business as a whole.

How does Wealthify work?

Investors are asked about their goal (they can select from a list, or choose freely), how much they want to invest upfront, how long for and whether they want to invest monthly. There are five different investment portfolios spread around the world and amongst different sorts of investments – you don’t pick your own funds and shares.

How does Wealthify perform?

All of the figures below are Wealthify’s simulated 2019 performance figures. They are “simulated” because they’re based on the performance of a model that mirrors the decisions Wealthify made for customers’ plans. All simulated figures assume that the account size is over £500 and that a fee of 0.60% has been taken as well as fund costs.

If you want to see the performance for other years, you can see these on Wealthify’s website.

Remember that past performance is not a reliable indicator of future results.

Wealthify ethical plan performance
Plan – based on risk appetite2019 simulated performance
Cautious8.10%
Tentative9.86%
Confident11.88%
Ambitious14.15%
Adventurous16.74%

Wealthify original plan performance
Plan – based on risk appetite2019 simulated performance
Cautious6.43%
Tentative9.37%
Confident11.96%
Ambitious14.75%
Adventurous17.14%

How much does Wealthify cost?

Cost is around 0.8% per year, including Wealthify’s fee and the cost of the underlying investments.

How does Wealthify compare to others?

Our verdict