Wealthsimple or Wealthify?

Hi all,

I’m new and trying to be more in control of my finances! I recently jumped ship from Moneybox after realising that I was paying more in fees than my investment was earning, and I was looking into both Wealthsimple and Wealthify - has anyone used one (or both)? Thoughts? I just want something where I can pick an investment plan, put some money on it every month and mostly leave it alone, because I don’t really know what I’m doing :smiley:

For now, the main difference I can see is that Wealthsimple integrates with Emma and, while Wealthify doesn’t, it is offering a £50 return if I leave £500 invested for three months.

Thank you :slight_smile:
Francesca

Have you checked the fees for all of them? I am on Wealthsimple and didn’t pay any for the first year. :slight_smile:

How much are you looking to invest per month?

I’m using Wealthsimple but like I think Gaoler is alluding to the fee ratio will depend on how much you’re investing. Once you hit a certain threshold other platforms will be more competitive on fees with some such as Vanguard putting a cap on annual fees. It’s a tradeoff given that Wealthsimple will also rebalance and make sure your portfolio matches your risk tolerance.

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If you do go with Wealthsimple. Here’s a cheeky referral link that gives me £5k managed free :wink: https://wealthsimple.com/invite/VE7UKG

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I’ve used Wealthsimple for years and love it. It’s doing alright in the current crisis too (compared to my nutmeg at least) if you fancy looking into it and want 5k managed free for a year here’s my referral link :wink: https://wealthsimple.com/invite/HJDHEW

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Mine is a disaster. ahaha

Oh no sorry to hear that! At its worst my Wealthsimple was down 12.5% but now it’s up again! By 1%. I’m on a medium risk portfolio though.

Yes, I am on the same boat. It’s catching up.

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Glad it’s improving… mines up 4.75% in all now

Yeah, I am at 7%, back on track. :slight_smile:

I’m sitting on -5.7% but it’s slowly recovering

We live in hope mine went back up too. Highest it’s every been now at 12.5% up

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