Wealthify Reviews

4.31 Rating 347 Reviews
86 %
of reviewers recommend Wealthify
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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.

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Phone:

0800 802 1800

Email:

support@wealthify.com

Location:

Tec MarinaTerra Nova Way

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Anonymous
Anonymous  // 01/01/2019
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 2 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 1 year 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 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 3 years ago
2nd month and -3.89%. Waiting till -5% and withdraw.
Posted 2 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 2 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 2 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 4 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 1 year 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 1 year 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 2 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 2 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 2 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 2 years 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 3 years ago
good app, website and customer support
Posted 3 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 3 years ago
Easy to use app. Updates pot value daily. Money takes far too long to deposit for my liking. About a week where I could have been earning interest on each monthly deposit in my savings but it leaves my account and is not invested for a week. Money does go up and down as expected but did have an initial upward trend. After 2 months I was about +2.5% but a week later it gave up all those gains and im +0.38% now. At this rate my basic savings account is a better rate and at least that is guaranteed. Another issue I have is the app displays growth % based on the initial deposit, not the overall pot value including monthly deposit. I'm hoping this corrects as the % is misleading. I've done this for the long run so hopefully over the years, growth will stabilise and be within reigon of the estimates. But right now I have mixed feelings. I'm 3 months in. My rating has not been based on money performance but on the other points mentioned.
Posted 2 years ago
A good concept - user friendly, but for me just not quick enough, I am aware of delays in payments out/in at banks. However compared to other investment platforms the payments seem to take forever to show on app.
Posted 2 years ago
App is brilliant and easy to use and navigate. I like the idea and what they are trying to do and it all sounds great. Problem is that with an investment you want to see things go up. I totally understand it’s volatile but at the same time I got a Wealthify account I also invested in Moneybox and Old Mutual. Both have seen far higher percentage increase of over 3%, taking into account the crash in Jan, but wealthify is at 0.99 over the same period. Going to give it a few more months but if it carries on I will be moving my investment.
Posted 3 years ago
I don't have a problem with complexity, if it gets me positive returns on my investment. Wealthify has been consistently underperforming and would have continued, had I not adjusted my portfolio
Posted 3 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 3 years ago
The site is easy to use and trdes are easy to follow and the dashboard is well presented. I am not so pleased with the returns. With the same level of risk and similar amounts of monies invested, for the same period of time, I have returned 3.81% with Aviva, 4.52% with Nutmeg, 4.24% with A J Bell, and only 2.41 % with Wealthify.
Posted 3 years ago
Wealthify is rated 4.31 based on 347 reviews