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.


#3

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

And then this happens :joy:


#4

I’d rather not … :laughing:


(Henry) #5

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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.


#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:


#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.