Name: Wealthify
Address: Tec MarinaTerra Nova Way, Penarth
Rating: 4.16

“Their documents sytem is a sham. Each quarterly report is not delivered untill the following quarter and never matches the opening balance on the next month. This year I have only just received my year end report for March now on the 28th July Why does it take 4 months to readjust your numbers?”

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Posted 4 months ago

“Summary of what happened to me is that I deposited 15k to to Wealthify and it was all taken away, and I really don't know how. And I couldn't get it back with all the efforts I put into trying it was absolutely impossible until I saw a review on how Trievals helped some and I decided to give them a trial. To my astonishment they got my 15k back for me”

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Posted 4 months ago

“Opened savings account transferred money from my linked account to Wealthify but it just sat as pending. Rang customer services and they said they would "look into it" and it would be "about 3-5 days" for an answer. Still trying to get my money back - don't do it, choose a well known bank instead.”

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Posted 8 months ago

“Recently opened the new savings account as a customer using their services for several years- wish I hadn't. They let you open an instant access account and deposit any sum of money easily. However, when you go to withdraw money they ask for documents, which is not instant access. That should have been done before I was able to open an account and deposit money. Absolutely disgusting and slimy. I do not trust this company with my money anymore and I am pursuing the closure of all my accounts, both investment and savings.”

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Posted 9 months ago

“This lot are amateurs and novices. If you want to lose money, they will be ideal. My investment was over 8% down in less than a year. So I cut my losses, before losing even more of my original investment. Which was already a substantial loss. Any good reviews on here, are not due to the performance of their investment, but to the ease of use of setting up their investment. Or are written by their workers, or friends. People who have got enough sense to never invest in this sham of a company. To prove how bad they are they offer a £50 cashback offer. This is because they want you to invest with them. So they can take your money. If you leave a negative review, here, you will just get a reply saying, "Sorry, please get in touch with us". Or they will give poor reasons as to why your investment is underperforming. They clearly do not know what they are doing. And as long as they get their monthly commission is all that seems to matter to them. AVOID, unless you want to lose your money. The FCA really needs to investigate this company, because I think they are just there to take people's money. I am not sure anybody has ever withdrawn their investment, with a profit, from this company.”

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Posted 10 months ago

Hi Andrew Thank you for taking the time to leave us a review and we are sorry to hear you feel this way. We ask our reviewees to reach out so we can look into the issue for them and complete a review of their account to determine if there is anything we can help with. Our Investment Team also have over 50 years collective experience and you can find more information on them, here: https://www.wealthify.com/meet-our-experts I can also confirm that unless you are a customer you are unable to leave a review, so no family, friends or workers have left positive reviews for Wealthify. We wish you all the very best in your future savings and investing. Best wishes Team Wealthify.

Posted 9 months ago

“Had to cut my losses. I'm glad I didn't lose it all. I know it's a long term view but every day I was down 2%. I was getting worried that I would lose it all. I have no confidence in their portfolios”

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Posted 1 year ago

Dear Sal, Thank you so much for taking the time to share your experience with Wealthify. We appreciate your feedback Please do let us know how we can make things better for you. We are here to listen and work towards resolving any issues you may have encountered. Best regards, Wealthify Team

Posted 9 months ago

“In the RED for years never a profit with all usual excuses. Now they offer 100 pounds for new customers only more incompetent abuse.”

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Posted 1 year ago

Hi Thank you for taking the time to leave feedback. There are always ups and downs in investing, we do not make excuses, we ensure we inform customers as much as we are able on the market, their Plans, and therefore help them to understand the context and reasons for performance whether positive or negative. We did have a refer a friend offer where if you referred someone both them and yourself would have received £100. Everyone is of course entitled to their opinion however I can assure you that Wealthify is full of intelligent, experienced, forward-thinking and hard-working individuals. We appreciate downturns in markets can be stressful to watch, particularly if you require your money right now so have to decide whether to make the losses real by withdrawing. However, incompetence is one of the things that we do not provide here at Wealthify. Do let our support team know if you would like any further information on your account and activity. Best Wishes Team Wealthify

Posted 1 year ago

“Some very suspicious things with this company. Setting up of my account was relatively easy but had to chase getting the “£40 bonus” which was conveniently forgotten about. I got it in the end so can’t complain. Had the account for approximately 2 years. The investment didn’t particularly perform well but that’s investments and I understood that from the start. Point to note though I have other investments that all out perform this one. The main issue is this - On withdrawing the funds they say it can take UP TO 10 working days and they give you a check out value at the time minus a small amount for market variations. BUT over that now 10 PLUS days it appears the check out value can change a lot more than the initial check out value. Mine for the negative! Sceptical people may think that the excessively long time they have for check out is just so they can pick the best time to give you the worst value. I’m hoping not. Anyway still haven’t received my money and it’s been 15 Working days and the value keeps falling. Won’t be using this company again.”

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Posted 1 year ago

Hi Hopefully I can inform you on some of the things you have raised in your feedback. The cashback payment. The vast majority of our cashback payments are sent to customers within 30 days of them completing the offer. We do not forget to issue cashback however on occasion a system quirk or something similar can cause the cashback to be delayed or for you the customer to chase up. As you have noted, we resolved without hesitation, delayed cashbacks are by no means a convenience for us, indeed they remain inconvenient and even though a small minority of customers are affected by this, we are working on improving how they work to avoid this going forward. On withdrawals, certainly if it has taken longer than 10 working days to reach you please do contact our Customer Support Team and they can investigate this for you. Typically once a request has been raised, we sell your assets within 1 working day. We trade every working day, of course, as we invest globally markets continue to change in value overnight and weekends so depending on when you requested your withdrawal the Plan can go slightly up or down in value. As I say though, we do actually sell as soon as we are able to, it does then typically take 6-10 days for the asset sales to settle on your account and the cash becomes available to send you. I can assure you that we would never hold on to your assets to provide you with a lower value, indeed that wouldn't benefit anyone in any capacity, we work hard to provide our customers with positive returns over the long term. We have taken your feedback points on board and I do hope I have helped to explain some things and reassure you on others. Best Wishes and best of luck with your future saving and investing. Team Wealthify

Posted 1 year ago

“The set up process is ludicrous, with the form asking irrelevant intrusive questions, but I decided to continue in the belief once the account was open I'd be in safe hands. Over 2 years despite being on a scheme where there is supposedly less risk, I have lost around 6% and I have to pay fees for this too. While I am fully aware stock hasn't been doing well other companies have still managed to make money for their investors on similar schemes.”

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Posted 1 year ago

Hi Thank you for taking the time to leave feedback. Regarding set up, as a regulated non advisory firm we are duty bound to ensure our customers complete a suitability questionnaire to ensure they have the current capacity for loss and are provided with an understanding of the risk involved with this type of investing. We do review this section of our site regularly in an effort to make it increasingly understandable and relevant to customers and we will take your feedback on board regarding this. As you state, 2022 was not a good year for investments on a global level, all assets were impacted however the bond market saw a decline that affected our typically lower risk plans. As you may know, bonds are typically seen as a lower risk asset to shares for example however last year both markets fell which will be a large part of the explanation for your poor performance that year. Things have started to recover however and we do constantly write blogs and monthly market reviews to ensure you are informed of what is happening in your Plan and the markets. Wealthify is built for long term investing, with 5 years seen as a good minimum term to invest, therefore we do aim to stick to our investment strategy and allow assets to recover over time, rather than make ad-hoc trades in an effort to make fast cash. Our fee is a standard rate of 0.6% of the daily value of your Plan, so if your Plan decreases in value whether through withdrawals or performance then your fee will be lower. We feel that is a fair way to charge for the services we offer. Best Wishes Team Wealthify

Posted 1 year ago

“31/01/2023 PLEASE be careful with this company. They regularly use Martin Lewis and Money Saving Expert to promote their services with cashback offers. I have had an account with them for several years now and find it a useful account to stash small sums of money away for any future Holidays or Christmas. I'm a Dad and my eldest Son recently turned 18. He has no debts and no overheads as he lives with myself. He has a large amount of money in a maturing Junior ISA. Perfect candidate to learn about Investing and the value of putting small sums of money away into Investments. EXACTLTY the demographic Wealthify would be falling over themselves to educate and impress (Or so I thought). Today applied with my Son for the £50 cashback offer with an invested lump sum of £50 (very small amount out of his large £5000 maturing Junior ISA). He was asked some very dumb questions written by a Robot Wizard - I would imagine written by a very stupid IT Professional and Monkey! For all questions his attitude to risk was Moderate (bearing in mind this is a lump sum of £50). I was horrified to find at the end of this very dumb computer wizard - in true Little Britain style Computer Said NO! A number popped up to contact Customer Service. I phoned on behalf of my Son genuiely thinking this was a mistake or a hoax. Customer Service rep said to the effect "the computers decision is final". I requested to speak to a senior member of staff only to be again told by the supervisor "the computers decision is final". The impression I'm left with - this company really does stand by micro chips and robots over common sense and human inteligence. Would you trust this company with Millions of Pounds? I've closed my account of several years TODAY and would advise friends and family and ANYONE who is tempted to invest any money that matters to them to AVOID Wealthify. If Computer says No - your left high a dry! NOT TO BE TRUSTED.”

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Posted 1 year ago

Hi Jon We never like to turn away customers and we do appreciate that yours and your sons experience has not been the best as you have taken the time to go through the initial setup only to be rejected. The suitability questions are designed to inform and protect the customer. Investing is a risk based pursuit, Wealthify does not provide financial advice, therefore as a regulated firm we are duty bound to carry out a suitability questionnaire to determine whether a person is in a good financial position to begin investing. That is not to say that we think the questionnaire is currently perfect, we are constantly reviewing not only the questions but the journey and experience as a whole to see if we can make it a better one for potential customers however we do have to balance that with ensuring the test maintains a high level of scrutiny as we would not want customers to take on an investment risk that they may be unable to sustain. We appreciate and fully understand your feedback and I have ensured it has been passed on to the relevant teams. We wish you and your son the best of luck with your future saving and investing. Best Wishes Team Wealthify

Posted 1 year ago

“I would imagine most investors are of an age. Probably an age before it became the norm to make your phone your life. Communicating with Wealthify is an experience, not a good one. Investing in them is not a good idea, there are many competitors with much higher returns. Apparently where Nutmeg scores a 10, Wealthify scores 5. Closed my account, which took forever due to bad communications. Re invested what’s left elsewhere.”

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Posted 2 years ago

Hi Stephen Wealthify prides itself on it's modern app and customer support and communications so we are surprised to hear that you have had a poor experience with these aspects of our service. If there is anything we can still do to remedy the situation or learn from your experience then do let us know. There will be periods where some competitor Plans will have better performance, however we shall also have period of good performance where others do not, it is difficult to compare when we run different risk plans however we do take your point on board that whilst you were with us you had better performance elsewhere. Wealthify is built for the longer term investor with 5 years seen as a good period to judge investment performance and indeed to ride out the short term ups and downs that come with investing. Best Wishes Team Wealthify

Posted 1 year ago

“Wealthify is a great robo investor for new investors. Would totally recommend them to others.”

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Posted 2 years ago

Hi Alasdair Firstly thank you for taking the time to leave some feedback, secondly, super news that you intend on spreading the Wealthify word! Thank you! We hope we continue to impress :) Best Wishes Team Wealthify

Posted 2 years ago

“To front: I normally don’t leave bad reviews, I give companies the benefit of the doubt and try my best to resolve issues with them directly. That said this warrants a poor service review. I’ve been an investor with wealthify for over 2 years and generally have had no issues with them. I’ve even helped with their beta app development, testing and suggesting changes to help the usability of their software. Returns have been poor, worse than S&P 500 which is a useful benchmark. That said the negative review has been the awful experience with my pension. Things are hard at the moment with a cost of living crisis, so I cancelled my regular pension payment 10 days before it was due to go out, rescheduling it for another 10 days later to reconsider my ability to invest. I received messages that this had been actioned. Unfortunately it wasn’t and they took the money. I immediately cancelled the second deposit. Once again this was still taken out. After contacting wealthify they said I should be able to withdraw the money. The fact they had no idea how a pension works is doubly shocking, as I cannot withdraw ahead of retirement age. After contacting them - nothing but silence. I’m now unable to afford a regular train fare or other essential payments I was due to budget for, somehow doubly worse off than my initial intention to save costs just for a single month. Awful comms, poor service and a complete lack of care. I’ve had similar issues transferring money into a JISA from family members wishing to contribute. My advice to everyone is to look for a more established provider. Sure their app is clean, but the service is terrible. N.B it’s interesting to note the discrepancy in time take to take funds vs withdraw them. Despite ample leeway and timings, they weren’t able to cancel my regular deposit, but as others have mentioned it can take more than 10 days to withdraw any money from your account.”

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Posted 2 years ago

Hi Jon Thank you for leaving feedback, we have contacted you directly about the issues you have raised and have hopefully now put some resolutions in place for you. Best Wishes Team Wealthify

Posted 2 years ago

“Dreadful company, avoid at all costs, will be moving away as soon as I can organise.”

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Posted 2 years ago

Hi A shame to hear that you intend on leaving us, we would love an opportunity to talk with you directly to understand the areas of our service you do not enjoy and perhaps we can resolve some or even all of the issues you have. Please do feel free to contact us our Customer Care Team are excellent and will be keen to help where they can. If you have decided to leave whatever happens, then we would also like the chance to take more specific feedback on what you did not like so please do get in touch with our team if you wish to leave feedback for us. Best Wishes Team Wealthify

Posted 2 years ago

“It might only take 10 minutes to open the account but takes forever (weeks) for them to complete the setting up of the account.”

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Posted 2 years ago

Hi Complete set-up of an account typically can be done entirely online and therefore during your ten-minute opening journey. However, in some cases, we do need to request further documents and/or conduct some manual checks on the account information before we can allow the account to open. In some cases we are aware that the wait time can be quite long and we are working hard to reduce time taken as best we can, whilst still ensuring we conduct the proper checks and ensure the ongoing security of your account is in place. I do hope that if you did go on to open your account with us, you find it to be an enjoyable experience. Best Wishes Team Wealthify

Posted 2 years ago

“I have finaly got all my money out of this company stay clear of them and get your cash out while you still can.”

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Posted 2 years ago

Hi Steven We are glad to hear that your withdrawal has completed, when dealing with investments, selling your funds to provide you with cash can sometimes take over the 10 working days we indicate however in the vast majority of cases we are able to send out withdrawals under the 10 working days. We of course would like that to be 100% of the time and we are constantly working towards that goal. We wish you the best of luck with your future saving and investing. Best Wishes Team Wealthify

Posted 2 years ago

“Awful dont bother with them started off ok but then got worse and worse they say you can get your money out within 10 days but its not true when i said you are witholding my funds they said no we are not it will be out in 10 days it looks like i will have to wait 3 weeks at least now go elsewhere there are plenty of better investments they seem to be going down hill fast so get your money out while youcan.”

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Posted 2 years ago

Hi Steve I have responded on your more recent review to your concerns raised, our Customer Care Team have also liaised with you directly. Best Wishes Team Wealthify

Posted 2 years ago

“I've had my account for 14 months and in terms of performance it's been staggering - currently 8.26% down and that's not allowing for real terms losses due to the high inflation during the same period (circa 3%). For that impressive performance their charges (12 months) came to £189. Don't be fooled, if they were any good at this then they'd report their plan's performance in real time on their website. But of course they don't - they only show that one graph that finishes in 2020. You've been warned.”

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Posted 2 years ago

Hi You should be able to view your Plan's performance on your Dashboard, we provide a TWRR figure as well as your monetary profit that are both updated the day following the end of trading. Regarding historical performance of all the Plan styles, we display that on our How We Invest page and ensure that the graph shows from when the Plans began up until the most recent quarter end, currently it therefore shows performance up to 31st March 2022. Below the graph we also have annualised performance figures again up to most recent quarter end. If your Dashboard is showing up to 2020 then it sounds like there may be a technical issue or perhaps your app may need updating? Do get in touch with our Customer Care Team and they shall be happy to look into this for you. Best Wishes Team Wealthify

Posted 2 years ago

“Withdrawal process takes longer than the 10 working days they promise. I closed my plan on 23rd May and still not got money today, the 13th June. Nor can their customer services promise I will get my money today. Never again”

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Posted 2 years ago

“My first stocks & shares ISA, small investment but I enjoy white knuckle rides, so put it into the riskiest possible investment. Very happy with the 3% gain in three weeks, very impressed that there was a (fairly lengthy and boring) computer review to ensure that I was the correct sort/sufficiently insane for such a plan before allowing me to take it out, and customer support has been amazingly good, answering my (probably ridiculous) queries quickly, accurately and politely. Put the ex-wife on to Wealthify as well, she has also opened a small low-risk ISA, and doubly happy that my high-risk one is performing better, although she is also in profit. My only quibble is that I have no say over where my money goes, or what funds it is transferred between, only the level of risk. Given the current situation, I would have liked to put 75% into fossil fuels & arms manufacturers for short-term profits, and 25% into rubles & Russian government stocks, which are at rock-bottom today but bound to regain all losses a few months after they inevitably win the current war. Did I mention that I chose not to invest in the ethical plan? But still, very happy, very professional, all fees and charges clearly laid out upfront, all risks fully explained, all changes promptly reported. Highly recommended.”

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Posted 2 years ago

Customer Service
Communication Channels	Live Chat, Telephone, Email
Queries Resolved In	Under An Hour

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