In this article we compare online investment platforms Wealthify, Nutmeg and Moneyfarm, helping you choose which is the best one for you to invest with.
We weigh up the features of each of the robo-advisers, including performance and cost, as well as providing you with details of reader offers that could save you money by giving you 12 months' fee-free management with Nutmeg and Moneyfarm*.
Wealthify vs Nutmeg vs Moneyfarm - which is best?
| Wealthify | Nutmeg Fully Managed | Moneyfarm | |
| Minimum investment | £1 (£50 for SIPP) | £500 (£100 for JISA and LISA) | £500 |
| Management fees | ISA, General Investment Account (GIA) & Junior ISA - 0.60% flat fee
SIPP - 0.60% up to £100,000, then 0.30% for any portion of a portfolio over £100,000
Additional underlying fund charges |
Up to £100,000 - 0.75%
Over £100,000 - 0.35% Additional underlying fund charges |
Up to £10,000 - 0.75%
£10,001 to £20,000 - 0.70% £20,001 to £50,000 - 0.65% £50,001 to £100,000 - 0.60% £100,001 to £250,000 - 0.45% £250,001 to £500,000 - 0.40% Over £500,000 - 0.35% The fee you pay is based on the total value of your portfolio so if you invest £75,000 you will pay a total fee of 0.60% Additional underlying fund charges |
| Products | ISA, General Investment Account (GIA), Junior ISA and SIPP | ISA, General Investment Account, Junior ISA, Lifetime ISA and SIPP | ISA, General Investment Account, Junior ISA, SIPP |
| Number of standard actively managed portfolios | 5 | 10 | 7 |
| Number of ethical portfolios | 5 | 10 | 7 |
| Fixed allocation portfolios | No | Yes | Yes |
| Other investment options | N/A | Thematic investing and Smart alpha portfolios (powered by J.P. Morgan Asset Management) | Thematic investing, Money market fund & Share Investing |
| Customer reviews (Trustpilot) | 4.0 | 4.1 | 4.3 |
| MttM offers | Wealthify has an offer where you can earn £25 - £1,000 cashback when you transfer at least £1,000 into a Wealthify Pension. Open to new and existing customers. Offer registration closes on 9th December 2024. Terms and conditions apply, capital at risk. Read our Wealthify review for more information. | No management fees for 12 months (terms and conditions apply) | No management fees for 12 months (terms and conditions apply)* |
Wealthify vs Nutmeg vs Moneyfarm - minimum investment
For those looking to test the water with a robo-adviser without investing a great deal at the outset, Wealthify offers the opportunity to open an account for as little as £1, or £50 for its SIPP. By contrast, both Nutmeg and Moneyfarm require a minimum investment of £500, although this is reduced to £100 for JISAs and LISAs from Nutmeg.
Wealthify vs Nutmeg vs Moneyfarm - fees
Wealthify has a flat management fee of 0.60% regardless of how much you have invested in its ISA, Junior ISA and General Investment Account. For its SIPP, fees are halved to 0.30% for any portion above £100,000. Nutmeg has a sliding scale of fees and Moneyfarm has staged fees, with the full amount invested subject to the same level of fees once you pass certain thresholds.
Bear in mind that with all three propositions, you have to pay the costs of the underlying investments on top of the stated management fees. These additional charges typically range from 0.16% to 0.30% per annum.
Wealthify vs Nutmeg vs Moneyfarm - products
As you would expect, all three robo-advisers offer stocks and shares ISAs, GIAs and Junior ISAs as well as SIPPs. In addition, Nutmeg has a Lifetime ISA. There is also more information on the criteria and characteristics of a LISA in our article "Lifetime ISAs explained".
Wealthify vs Nutmeg vs Moneyfarm - portfolios
If you are looking for the greatest amount of choice, Nutmeg exceeds both Wealthify and Moneyfarm. In its 'Fully Managed' range it has 10 risk-rated portfolios, compared with 7 for Moneyfarm and 5 for Wealthify. However, in addition, like Moneyfarm, it also has lower-cost Fixed Allocation portfolios and offers Thematic investing but Nutmeg also offers a more finely tuned Smart Alpha proposition as well.
Wealthify vs Nutmeg vs Moneyfarm - ethical portfolios
All three platforms cater for individuals who are looking to invest ethically. They all use passive investment vehicles to populate ethical portfolios that mirror the main ranges in their risk-rated structure. As such, Nutmeg has 10 ethical portfolios, Moneyfarm has 7 and Wealthify has 5.
Wealthify vs Nutmeg vs Moneyfarm - performance
Performance is obviously a key factor when choosing which robo-adviser to go for. However, it can be tricky to compare the relative performance of each one because they have different numbers of portfolios and lengths of track record. We explore the performance of all three platforms as well as how they compare to Vanguard in our article "Which is the best performing stocks and shares ISA?"
Summary: Wealthify vs Nutmeg vs Moneyfarm
Whether you choose to invest via Wealthify, Nutmeg or Moneyfarm - or a combination of all three - will largely depend on your priorities. If you are looking for the cheapest option, Wealthify works out the most cost-effective for investments under £10,000, while Moneyfarm occupies the sweet spot between £10,001-£100,000 and Nutmeg matches Moneyfarm for investments over that mark.
If, however, you are seeking investment choice, Nutmeg has the largest number of portfolios, as well as Fixed Allocation, Smart Alpha options and Thematic investing within its stable. Meanwhile, if you are looking for extra support, the inclusion of an investment consultant or the ability to invest directly into a selection of shares and ETFs Moneyfarm is hard to beat. In terms of ethical portfolio performance, Wealthify has performed particularly well over the last 3 years (see the previous section).
There is more information on all three platforms in our full reviews of Wealthify, Nutmeg and Moneyfarm.
If a link has an * beside it this means that it is an affiliated link. If you go via the link Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. But as you can clearly see this has in no way influenced this independent and balanced review of the product. The following link can be used if you do not wish to help Money to the Masses or take advantage of any exclusive offers - Moneyfarm
