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Wealthify Reviews

4.2 Rating 368 Reviews

82 %

of reviewers recommend Wealthify

Company Reviews

4.2

Based on 368 reviews


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

About Wealthify:

Wealthify aims to shake things up and make investing easy and affordable for everyone. We're challenging people to think differently and do more with their savings.

Our promise is simple: No complicated jargon, no daunting fees, just straightforward, effortless investing.

Visit Website

Phone:

0800 802 1800

Email:

support@wealthify.com

Location:

Tec MarinaTerra Nova Way
Penarth
CF64 1SA

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Anonymous

Anonymous // 01/01/2019

Filter: Helpful None 5 Stars 4 Stars 3 Stars 2 Stars 1 Stars Helpful

“One year in and all it's ever done is lose me money! App is nice however I will be transferring as need an ISA that can grow money. I expect to go up and down but not continually stay down. They do not seem concerned.”

Posted 5 years ago

“I've lost a significant amount of monies investing into their "scam" allowance rules. Basically you have £40,000 and you decide to sell. You don't know where your investment has gone and then when you decide to take out your monies suddenly you lost £1,400 because it has taken up to 10 days to get your investment converted into cash. So it's always a loss and that's how they make money as a business. They can manipulate the value of your investment as they please. Bye bye money... I wish I would have gone on a holiday with my family! Think and act wisely!”

Posted 4 years ago

“I closed my account on 6th April because I have been monitoring their performance against Nutmeg & Evestor and Wealthify were the worse on a like for like basis. Worryingly, I called on 17th April to find out why I had not received my money (they say on their web page it takes 5 days to sell your investments and another 5 days for the money to hit your bank account). I was told that thy hadn't even sold my investments and couldn't confirm when I would receive my balance. I was then offered 75% of my balance now and the rest to follow!!! I refused their 75% offer and spoke to the FCA who advised that I raise a formal complaint with Wealthify. I then phoned Wealthify again on 17th April and was then told that the time to close an account was 10 working days. I explained that it didn't say that on their web page and didn't make sense since they say it takes 5 days to sell your investment and they had already had 7 working days and by their own admission had not sold my investments in that time. So their new benchmark of 10 working days expires this Friday and I look forward to receiving my investment back, which BTW amounts to less than £1K. Unimpressed and always concerned when returning investments are delayed.,”

Posted 6 years ago

“Zero'thly, what is this? You give them money, they take about 0.87% a year and a computer program buys investments for you. All you need to do is pay them however much you want to invest, and decide on a risk level from "Cautious" to "let it grow, let it grow!". You can pull out at any time (wink, wink). Firstly, not a scam. Totes legit. You can see the receipts for the investments they buy. Second... I can't think of any way to improve the website or the service, and this irritates me because I am famously good at finding problems with things. Also the returns are brilliant (so far, and past performance is not a guarantee of future returns). Thirdly, yes you would be an idiot not to give them your money. So far their lowest risk portfolio has a 10% return since inception (ish, I think, probably) in just over a year (ish). Their annual fee is probably higher than the interest you make on your bank account. The quality of customer service is frigging ridiculously good. I tried to test that they weren't a scam by withdrawing all my money (took a couple of weeks which is fair enough because they have to sell all your investments which can take some time to process) and they were pro-actively helping me do it, they sent me the money in stages as the investments got sold, they sent me messages to explain everything... The last time I felt this cared for was when I was getting an ingrown toenail cut off - the podiatrist was really nice. Disclaimer: I am not an IFA, I have only invested money I can afford to lose, this review is based on my experience and your experience may differ (like if there's a stock market crash or WWIII or whatever) I advise you not to take advice from random strangers on the internet who could be anyone, even Batman.”

Posted 6 years ago

“2nd month and -3.89%. Waiting till -5% and withdraw.”

Posted 5 years ago

“Extremely poor. Their processes for investing funds and then withdrawing are very very poor and I have had significant delays in both funds I had with them. They promise 10 working days to process but it takes significantly longer than this (even with me chasing) meaning my investment has spent many weeks not ‘earning’ any money. I have now closed both my funds and changed to a competitor who seems much better”

Posted 5 years ago

“It takes up to ten days to pull your money out. This means that if you have 10,000 pounds and you withdraw today, you might receive 8,000 pounds.... a loss of 2,000 because the markets changed. So you never know where you are. Share dealing doesn't take that long so there is plenty of time for Wealthify to manipulate stocks ensuring you make a loss. Good luck! It's only money you are wasting :-)”

Posted 4 years ago

Hi PAPADOPOULOS, Thank you for taking the time to leave a review. It is made clear to our customers that the withdrawal process can take up to ten working days. This is because your money is invested in stock markets and we need to sell your investments first before we can send the money. Sometimes, It might be quicker than 10 working days, but this can't always be promised. Please keep in mind that with investing, your capital is at risk. The value of your portfolio can go down as well as up and you could get back less than you put in. This is also made clear to potential and existing customers. Our strategy is designed for long-term investing. Our Investment Team work diligently to ensure our customers' plans are optimised at all times, and we are open about our performance and returns. https://www.wealthify.com/blog/2019-performance-update-another-year-of-happy-returns If you have any other concerns, please call our Customer Support team on 0800 802 1800. You can also find us on Live Chat via our website and app. https://www.wealthify.com/help-centre

Posted 4 years ago

“2 weeks and my money i deposited still hasnt hit my account. Never known a financial institution to take so long to deposit money. Ive worked in my banking for years and it actually has me worried thinking its all a scam. Cannot get my money back until it hits my account. I cant wait for that to happen so i can close it all down. Stay clear”

Posted 4 years ago

Hi Thanks for bringing your concerns to our attention. We have several ways in which you can deposit money with us. With a one-off direct debit, it can take up to 10 working days. This is due to the direct debit guarantee which allows people to change their mind. Another payment option is a bank transfer, this reaches us quicker, usually within 3-5 working days. We’d be happy to talk through your concerns so please do give us a call on 0800 802 1800 or via online chat. Alternatively, let us know via your secure messages when it’s a good time to talk and we will call you.

Posted 4 years ago

“The recent market volatility has overwhelmed Wealthify. A capable investment team would be able to capitalise on such volatility but Wealthify appear not to have such a team, consistently underperforming. It's difficult to stomach receiving a statement for fees and charges when they have presided over an almost continual degredation of my nest egg.”

Posted 4 years ago

Hi There Thank you for your feedback, we are sorry to hear you are disappointed with your Plan. Wealthify's Investment Team actively manage our Plans with a focus on long-term investing, rather than attempting to time the market in the short term. Our Investment Team would be happy to review your Plan and provide you with more information on recent performance and our ongoing strategy. Please do get in touch with our Support Team. https://www.wealthify.com/help-centre and they will be able to help with this. More generally, we have just published our review of Wealthify Plans during April, which may be of interest to you. https://www.wealthify.com/blog/wealthify-performance-april-2019. Hope to hear from you, have a lovely weekend. Team Wealthify

Posted 4 years ago

“The app and investment options seem good and all, but my reason for leaving a review was the amazing customer support I received. I spoke to Rhiannon Maggs and she was wonderful. The perfect person to talk to. She was kind, professional, helpful, and she replied instantly. I'm leaving this hoping that possibly someone in a managerial position may see this and be able to give her what she deserves. Honestly from my experience she is the perfect employee and should be rewarded. Thank you Wealthify, and thank you Rhiannon!”

Posted 5 years ago

“I would have given you a 5 because administration and ease of investment, contact from yourselves to provide an understanding are all good for a novice investor such as myself, however, I have split my portfolio between 3 providers, you all have the same risk agreements and the same value invested from the same time period and so far you are the lowest performing of the three. I appreciate that these are all long term investments but just presenting you with the facts.”

Posted 7 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”

Posted 1 year ago

“I had an unfortunate matter when, my request for a withdrawal was made a little late. This would have resulted in me missing my property completion date! (and therfore a big penalty). Fortunately, Nick and the team were very helpful and pushed through my funds in time for completion :) Very helpful and skilllful team at Wealthify. Thank you again.”

Posted 5 years ago

“good app, website and customer support”

Posted 5 years ago

“Compared to Moneyfarm and Evestor over the same time period and with similar investments Wealthify not only under performed but lost money. The other two investment firms made money. Their charges are also higher than the other two.”

Posted 6 years ago

“Alarmed that continuous purchasing and selling of funds are causing value of my investment to be very volatile. It needs to hold onto gains and not lose money.”

Posted 6 years 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.”

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

“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.”

Posted 1 year 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 1 year 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.”

Posted 1 year 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 1 year 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.”

Posted 1 year 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 1 year ago

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Wealthify is rated 4.2 based on 368 reviews