What is NuWealth?
NuWealth 
In June 2024, Wombat Invest rebranded to NuWealth in a bid to highlight their commitment to freedom, opportunity, and fresh thinking while driving their goal of doing things "a bit differently" to everyone else forward.
In this independent NuWealth review, we take a look at the key features, how much it costs to invest as well as how it compares to other popular investing apps including AJ Bell Dodl*, Plum* and Moneybox.
NuWealth Invest features
- Start investing from as little as £10
- Access to fractional stocks and ETFs
- Access to 400+ stocks
- Access to 30+ funds and ETFs
- Easy access and notice savings accounts
- Invest your spare change by setting up 'auto-round ups'
- Set up automatic investments with 'auto-invest'
- Open a free easy access or notice savings account through GB Bank
- UK-based customer service team available 7 days a week, 365 days a year
How does NuWealth work?
Users can access NuWealth via a smartphone app available on the Apple and Google play store. Users will need to create an account by submitting some personal information, including an email address, phone number, national insurance number and bank details. Users will then need to choose how much they would like to initially invest, with £10 being the minimum investment to open an account.
NuWealth customers can choose from three different account options including General Investment Accounts, Stocks and Shares ISAs, and Junior ISAs. There is a £1 monthly fee for each account, as well as a 0.10% platform fee and 0.75% FX charge. Customers have access to a variety of shares and ETF funds. Those who opt for a General Investment Account can also invest in fractional shares from as little as £10.
NuWealth round-ups explained
Round ups are a popular feature with investing apps as they allow users to round up and invest the spare change from each purchase they make when using their debit card when shopping. For example, if you spent £2.30 on a coffee, NuWealth would calculate that £0.70p should be added to the round-ups pot. To set up round-ups, users need to be on the Standard plan and allow NuWealth to securely access a read-only version of their online bank account via the app.
NuWealth auto invest explained
The auto-invest feature allows you to set a monthly amount that you want to invest in themed funds or stocks of your choice. You can choose to auto-invest on specific dates with NuWealth. The minimum monthly auto investment is £10 and there's no maximum. You can always adjust the amount you want to invest via the app as well, or cancel the feature. You can also use auto-invest and the round-ups feature at the same time if you want.
What can you invest in with NuWealth?
There are a range of different investment options you can choose with NuWealth.
What stocks can I invest in with NuWealth?
You can invest in a total of 400 different stocks, including popular stocks such as Tesla, Apple, Google (Alphabet), Amazon and Facebook (Meta). NuWealth also allows users to invest in fractional shares. A fractional share is when you own less than one share in a company and so allows those with smaller sums of money to invest directly in companies whose shares they may otherwise be unable to afford. The choice of available shares can easily be filtered by country, meaning investors can opt to see just the UK or US shares on offer or alternatively investors can choose a category that interests them such as Fashion, Entertainment or Food and Drink.
What ETFs and funds can I invest in with NuWealth?
You can invest in a total of 30+ different ETFs and funds with NuWealth, however, you will need to be a NuWealth 'Standard' plan holder to access the funds. Users will need to pay a £1 per month subscription fee, a platform fee of 0.10% per year and provider fund fees of between 0.07% and 0.75% (depending on which ETFs you are invested in). Among the funds on offer, NuWealth has 25 ETFs, 5 funds, and 2 ETCs.
They're broken down into multiple sectors or themes to help you decide what to invest in. We list the funds within the respective sectors below. Bear in mind, some funds meet multiple criteria and therefore they can be found in several sectors (or themes).
NuWealth 'Themes'
- Technologies - The Techie, The Battery Room, Join the Metaverse, The Blockchain, The AI, Powering the Internet, The Space Age, The Gamer, The Robo, and The Innovator
- Fashion - The High Ender
- Ethical Investing - The Future of Food, Medical Cannabis, The Electric Car Revolution, The Green Machine, The Goodies, Women in Power, The Innovator
- Global Brands - The High-Ender, Join the Metaverse, The World's Greatest, Fly the Flag, All American, The British Bulldog
- Diversification - Bond Global Bond, Slow and Steady, Solid Silver, The Adventurer, The Balanced, The Lifestyler, Women in Power
- Food and Drinks - The Future of Food, The Foodie, The Snack Attack
- Commodities - Pure Gold, The Money Maker
- Scientific - The Healthcare Innovators
- Model Portfolios - The Adventurer, Slow and Steady
NuWealth Savings accounts
If you're not ready to invest your cash yet, NuWealth offers free savings accounts that you could make use of. You can open a savings account as long as you have a minimum of £500 to deposit and plan to contribute at least £50 a month.
There are both easy access and notice accounts available. These include:
- GB Bank Base Rate Tracker - 4.64% AER
- GB Bank 30-Day Notice Account - 4.75% AER
- GB Bank 95 Day Notice Account - 4.91% AER
The accounts are offered in partnership with GB Bank and therefore come with FSCS protection up to £85,000.
How much does NuWealth cost?
NuWealth used to have a free Instant plan where customers could create a general investment account and had access to limited features. However, this free option closed in August 2024. NuWealth now only offers its paid Standard plan.
NuWealth customers pay a fixed subscription fee of £1 per month. In addition, users are charged a platform fee of 0.10% of the portfolio value. If investing in shares then a 0.75% foreign exchange fee applies to each trade.
Below, we compare the features available depending on which Standard account you opt for.
NuWealth Standard plans compared
| General Investment Account (GIA) | Stocks & Shares ISA | Junior Stocks and Shares ISA | |
| Monthly Fee | £1 | £1 | £1 |
| Platform fee | 0.10% | 0.10% | 0.10% |
| FX fee | 0.75% | 0.75% | 0.75% |
| Tax free ISA allowance | N/A | £20,000 | £9,000 |
| Individual shares | YES | YES | YES |
| Fractional shares from £10 | YES | NO | NO |
| Themes (ETFs) | YES | YES | YES |
| Round-ups | YES | YES | YES |
| Auto invest | YES | YES | YES |
| Instant deposits | YES | YES | YES |
| Learning resources | YES | YES | YES |
Is NuWealth safe?
Any cash that is not invested and showing as cash in the NuWealth account is held in a segregated client money account provided by Lloyds Bank PLC. Similarly, any investments that are sold are held within the same segregated account until you choose to reinvest the money or you can choose to have the money returned to your nominated bank account. Money held within the segregated Lloyds account is protected in accordance with the FCA’s client money rules which means that if it becomes insolvent, you may be entitled to a compensation claim from the Financial Services Compensation Scheme (FSCS), up to the maximum amount of £85,000 per person.
Additionally, if your money is invested in a fund and the fund provider has been declared in default, you may be entitled to a compensation claim up to the maximum amount of £85,000 via the Financial Services Compensation Scheme (FSCS).
NuWealth customer reviews
NuWealth is rated as 'Great' on independent customer review site Trustpilot scoring 3.6 out of 5.0 stars. 66% of reviewers rate it as either 'Excellent' with only 11% rating it as 'Bad'. Many of the excellent reviews like the quick and easy application process as well as the excellent customer service. Of the negative reviews, some have expressed disappointment in the time it takes to withdraw money.
Alternatives to NuWealth
If you are considering investing from your mobile phone, we provide a comprehensive list of the best investment apps in the UK in our article 'Best investment apps in the UK - How to invest from your mobile'. Below we have provided comparisons to NuWealth's closest competitors, AJ Bell Dodl, Moneybox and Plum.
NuWealth vs AJ Bell Dodl
AJ Bell Dodl* does not charge a monthly subscription fee and charges an annual platform fee of 0.15% (minimum monthly fee of £1) compared to 0.10% charged by NuWealth. Like NuWealth, AJ Bell Dodl offers themed ETFs but goes a step further by giving investors access to seven diversified ready-made portfolios, provided by AJ Bell. AJ Bell Dodl also offers access to direct share dealing, but only on a range of shares in the UK at present (access to US shares is coming soon). AJ Bell Dodl also has more product choice, offering a pension as well as a General Investment Account and Stocks and Shares ISA. Dodl is likely to be a better option for most investors, except, perhaps those that particularly like the roundup feature offered by NuWealth.
For a more comprehensive look at AJ Bell Dodl, check out our independent AJ Bell Dodl review.
NuWealth vs Moneybox
In terms of product choice, Moneybox offers a few more options, offering 5 different savings accounts, a pension, Junior ISA, Lifetime ISA, Stocks and Shares ISA and General Investment Account. Like NuWealth, Moneybox charges a £1 per month subscription fee for its investment accounts, however, new users will get the first 3 months fee-free. Moneybox charges a platform fee of 0.45% for its investment accounts, significantly higher than the 0.10% platform fee charged by NuWealth.
Both NuWealth and Moneybox offer round-ups as well as access to online resources to help users further their investment knowledge. If it is purely down to cost, NuWealth is likely to be the smarter option but if product choice is a major consideration then Moneybox would be the sensible option.
For a more comprehensive look at Moneybox, check out our independent Moneybox review.
NuWealth vs Plum
Plum* started life predominantly focussed on savings, helping its users to save money into pots using smart AI technology. It has since expanded into investing and now offers a number of investing accounts as well as a personal pension. Plum offers a free account as well as a monthly subscription account, with additional features on offer for those that are happy to pay the £1 a month fee. The additional features provided by Plum include separate savings pockets, interest on savings and cashback offers. Plum also offers a 'Pro', 'Ultra' and 'Premium' account with additional features for those that are happy to pay the £2.99 to £9.99 monthly fee. Plum charges a management fee of 0.15% compared to 0.10% charged by NuWealth. Those wishing to save and invest may prefer to look at Plum while those looking for simplicity and value may want to stick with NuWealth.
For a more comprehensive look at Plum, check out our independent Plum review.
Pros and Cons of NuWealth
Below we list the main pros and cons of investing with NuWealth.
Pros of NuWealth
- Invest from as little as £10
- Unlimited commission-free trading
- Round up and invest your spare change
Cons of NuWealth
- £1 monthly subscription fee for all account options
- Limited product choice (No Lifetime ISA or Pension)
- Foreign exchange (FX) fees apply to stock trades
Summary
NuWealth (previously known as Wombat Invest) is an attractive proposition for those new to investing and those who prefer a streamlined product choice and a simplified setup process. It charges a low management fee of just 0.10% making it one of the cheapest investment apps available to UK investors. Like Moneybox and Plum, NuWealth charges a £1 monthly fee for access to its 'Themed' investments. A good alternative to explore if you're interested in ETFs is AJ Bell Dodl* which charges a low management fee of just 0.15% (minimum £1 per month). It offers a number of diversified ready-made portfolios in addition to shares and ETFs and most importantly, it doesn't charge a monthly subscription fee.
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