Wealthify
Welsh managed investing service with ISA, Junior ISA and pension plans at 0.6% a year
Quick Overview
| Company | Wealthify Limited |
|---|---|
| Category | Robo-Advisors |
| Headquarters | Penarth, United Kingdom |
| Founded | Not stated |
| EU Presence | Yes - United Kingdom (FCA regulated) |
| Data Location | not stated on the pages we read |
| Open Source | No |
| GDPR Compliant | Yes |
| Self-Hosting | No |
| Main Features | Managed investing with risk styles, Stocks and Shares ISA, Junior ISA, Managed Personal Pension, Ethical or Original theme |
| Pricing | 0.6% a year annual management fee; 0.3% on pension balances over GBP 100,000; fund and trading costs about 0.14% (Original) or 0.46% (Ethical) |
| Best For | UK savers who want managed ISA or pension investing with an ethical option |
| Replaces | Betterment |
Detailed Review
Wealthify is a managed investing service run by Wealthify Limited, FCA No. 662530, with a registered office in Penarth CF64 1SA. The company number is 09034828, registered in England and Wales.
Wealthify experts choose the funds. Customers pick a risk style from Cautious to Adventurous and an Ethical or Original investment theme.
Wealthify Investment Plans and wrappers
Wealthify offers a Stocks and Shares ISA, a Junior ISA and a Managed Personal Pension. The ISA is capped at GBP 20,000 a year and the Junior ISA at GBP 9,000 per child.
Wealthify fees
Wealthify states a simple annual management fee of 0.6% on Investment Plans. A reduced 0.3% applies to the part of a Personal Pension over GBP 100,000.
Fund and trading costs add about 0.14% a year on Original Plans and 0.46% a year on Ethical Plans, according to the page.
Wealthify savings account
Wealthify also has an Instant Access Savings Account, which requires a minimum deposit of GBP 1,000.
Limitations to Consider
Wealthify's 0.6% annual management fee, plus fund costs, is above the 0.25% base tier that Betterment lists. The fees page gives no exact platform fee in pounds. Stocks and Shares ISA contributions are capped at GBP 20,000 per year, and the Instant Access Savings Account needs GBP 1,000. See InvestEngine for a lower managed fee.
Who Should Use Wealthify
UK savers who want a hands-off ISA or pension with a choice between an ethical and an original theme.
Pros and Cons
Pros
- FCA-regulated UK company with numbers published
- Stocks and Shares ISA, Junior ISA and pension
- Risk styles from Cautious to Adventurous
- Ethical theme available
- Reduced 0.3% fee on pension balances over GBP 100,000
Cons
- 0.6% annual management fee plus fund costs
- Ethical Plans carry about 0.46% a year in fund costs
- Savings account needs GBP 1,000
- Hosting and free plan not stated on the pages we read
Alternatives to Wealthify
Other European robo-advisors worth comparing before you decide:
Scalable Capital
Germany · Munich broker with savings plans and own ETFs
quirion
Germany · Berlin robo-advisor with managed ETF portfolios
Indexa Capital
Spain · Madrid index-fund robo-advisor with pension plans
InvestEngine
United Kingdom · UK ETF platform with free DIY and managed portfolios
See all European robo-advisors or compare them directly against Betterment on our alternatives page.
Frequently Asked Questions
Yes. Wealthify Limited is a UK company regulated by the FCA that offers managed ISA, Junior ISA and pension investing. Betterment is run from New York.
Wealthify states a 0.6% annual management fee, or 0.3% on pension balances over GBP 100,000. Fund and trading costs add about 0.14% (Original) or 0.46% (Ethical).
The Stocks and Shares ISA is capped at GBP 20,000 per year and the Junior ISA at GBP 9,000 per child.