Robo Advisors

#1

What are people’s thoughts on Wealthify (or other robo advisors?)

I joined up to Wealthily around 6 months ago - I’m still some way off getting back to my initial deposit amount…

The whole rollercoaster of a market hasn’t helped, and I’d certainly advise anyone going down this route if you like to check the performance on a daily basis.

Does anyone else have experience with them?

Note - I’m sticking with Wealthify because they gave me 12 months of fee free investing due to their cock ups on my account!

(Dan Mullen) #2

I’m with Wealthify and am also marginally down on my investment. Given the way the FTSE and other markets have dropped I think this is to be expected. The same has happened to my pensions elsewhere.

It’s definitely a long-term thing, like most dealing in stocks and shares.

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#3

Imagine you tell your wife that it’s the best thing to do with the savings right now…

And then this happens :joy:

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#4

I’d rather not … :laughing:

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(Henry) #5

image

Yep, as Dan says though this is pretty par for the market right now. The only area I’m looking good at the moment is across my small cap holdings.

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#6

I’m down around the 2% mark on wealthify been a similar time to you Dan. Let’s not talk about pensions being down :cry:

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#7

I use moneybox for my lifetime isa. It’s up 1.8% but I’m using the adventurous setting. Maybe you’re all playing it too safe :thinking:

Wealthify and wealth simple are far too serious for me. I don’t like that they dictate what you invest in based on a questionnaire. I want to make that choice myself so I’ll be using plum and you can just choose tech or emerging markets for example which is far more interesting with far more potential for growth.

(Dan Mullen) #8

All my investments are up a fair bit, hope everyone else is seeing a similar gain :+1:t2:

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#9

Up a bit but just got a fees statement yesterday which appear to have taken half of the years gains. I don’t see the Wealthify circle discount on it though. Only the 0.7% fee

#10

I’m using Wealthify which is fee free for a year as I got it through Aviva. I also use Freetrade as well, but I play (relatively) safe using ETF’s and index trackers. I think Wealthify will beat savings in the long run, especially if you put in over time so balancing out the highs and lows. As always though, it’s long term and day to day security is better in a bank if you are uncomfortable with any losses in the short term.

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#11

I’m thinking of opening a Wealthify account. Does anyone use the circles function?

#12

A lot of us here are in the same circle, maxed out on the discount.

No idea how to get the link for it thought, but can invite by email.

DOUBLEDUTCH is the circle name, think @danmullen created it.

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(l8n.me) #13

I’m part of @danmullen’s circle, i’m sure he will give you deets

Edit: Ah, i see @daedal beat me to it!

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(Dan Mullen) #14

Here you go: https://invest.wealthify.com/Circle/Join/Q3HHQP/MU2RFW-WRWM9K/

:+1:t2:

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#15

Cheers Dan :smile:

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#16

I didn’t notice it got to 136 members, they need a 100+ tier discount bought in now lol

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(Dan Mullen) #17

Yeah, I said that the other day to one of my work colleagues :slightly_smiling_face: