Wealthify

Wealthify's fee structure is refreshingly simple. You pay 0.60% per year as a management fee, and that's it from Wealthify's side. There are no dealing fees, no platform charges on top, and no exit fees. The underlying funds carry their own costs (typically 0.12%–0.22%), so your all-in cost lands somewhere around 0.72%–0.82% annually.

To put that in pounds: on a £20,000 ISA, you'd pay roughly £120/year to Wealthify plus around £30–£40 in fund costs. On a £100,000 portfolio, that's £600 plus £150–£200. Compare that to a DIY platform like Vanguard Investor at 0.15% (£150 on £100k) and the difference is stark — you're paying for the managed service.

The trade-off is clear: Wealthify costs more than doing it yourself, but considerably less than a traditional financial adviser (who'd typically charge 1%+ annually). If you genuinely won't manage your own investments — and many people won't — paying 0.60% for a properly diversified, regularly rebalanced portfolio isn't unreasonable. If you enjoy picking funds and rebalancing quarterly, you'll find better value elsewhere.

You can verify Wealthify's regulatory status on the FCA Register. For context on how robo-advisors compare, see MoneyHelper's platform comparison tool.

Wealthify keeps decision-making minimal. You pick from five investment styles:

• Cautious — heavy on bonds, minimal equity exposure
• Tentative — mostly bonds with some equities
• Confident — balanced mix of bonds and equities
• Ambitious — equity-heavy with some bonds
• Adventurous — predominantly equities, highest risk and potential return

Within each style, you can choose between an Original theme (standard diversified portfolio) or an Ethical theme (ESG-screened funds, excluding fossil fuels and controversial sectors). That's it. No picking individual stocks, no choosing specific funds, no tactical tilts toward emerging markets or tech.

For some investors, this is the whole point. You answer a few questions about your goals and risk tolerance, Wealthify suggests a style, and their investment team builds and manages your portfolio using a mix of ETFs and index funds. They rebalance when markets shift your allocation off target.

The limitation is obvious: if you want exposure to a specific sector, or you disagree with Wealthify's allocation choices, you're stuck. There's no "custom" option. You either trust their process or you don't.

Wealthify's SIPP benefits from pension tax relief — the government adds 25% to your contributions automatically.

Wealthify covers the main tax-efficient wrappers most people need:

Stocks & Shares ISA — The flagship product. Up to £20,000 per tax year, flexible (withdraw and replace within the same tax year without losing allowance). Same 0.60% fee. This is the account most Wealthify customers open first, and it's a solid option if you want a managed ISA without the hassle.

SIPP (Self-Invested Personal Pension) — Contributions get the standard 25% government tax top-up (basic rate relief applied automatically). The 0.60% management fee applies, though Wealthify reduces fees for pension pots over £100,000. You can consolidate old workplace pensions here, which is useful if you've got several small pots scattered around.

Junior ISA — Up to £9,000 per year for under-18s. Same managed approach, locked until the child turns 18. A decent option for parents or grandparents who want to set-and-forget.

Cash ISA — Pays 3.35% AER (3.30% tax-free p.a. variable), interest paid monthly. Held via ClearBank, FSCS protected separately. Tracks the Bank of England base rate minus 0.45%.

Instant Access Savings Account — Not an ISA, so interest is taxable above your Personal Savings Allowance. Pays 3.35% AER (3.30% gross p.a. variable), also via ClearBank with a £1,000 minimum deposit. Again tracks base rate minus 0.45%.

[[CHART:doughnut|Wealthify Account Types by ISA Allowance|Stocks & Shares ISA:£20000,Junior ISA:£9000,Cash ISA:£20000]]

The savings rates are competitive but not market-leading — you'll find better rates with dedicated savings providers. The convenience is having everything under one roof.

Wealthify became part of Aviva in 2020, and that matters for two reasons. First, Aviva is one of the UK's largest insurers and asset managers — it's not a venture-capital-funded startup that might disappear. Second, it means Wealthify has the resources to invest in its platform, customer service, and investment team.

On the regulatory front, Wealthify is FCA-authorised and your investments are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per person if Wealthify were to fail. Your investments are held separately from Wealthify's own assets (in nominee accounts), so even in a worst-case scenario, your holdings should be recoverable.

The Cash ISA and Savings Account are held via ClearBank, which has its own FSCS protection — meaning those deposits are covered up to £85,000 separately from your investment accounts.

Wealthify has a UK-based Customer Care team reachable by phone, email, and live chat. Their app supports Face ID and Touch ID on both iOS and Android. For a robo-advisor, the human support element is a genuine plus — some competitors push you toward chatbots and FAQs.

Wealthify is running a cashback promotion: deposit or start a transfer of £5,000 or more and receive between £50 and £1,000 in cashback, depending on the amount. Registration is open until 31 May 2026.

The maths can work in your favour. If you're transferring an existing ISA or pension anyway, free money is free money. On a £5,000 deposit, £50 cashback effectively offsets your first year's management fee entirely (0.60% of £5,000 = £30). On larger amounts, the cashback gets more generous.

Just don't let a cashback offer drive your platform choice. The ongoing fee matters far more over 10 or 20 years than a one-off bonus. If Wealthify suits your needs — hands-off, diversified, tax-efficient — the cashback is a nice sweetener. If you'd be better served by a cheaper DIY platform, no amount of cashback changes that arithmetic.

Wealthify works best for investors who want a genuinely hands-off experience. If checking your portfolio once a quarter and trusting professionals to manage it sounds right, this is a strong option. The simple fee structure, Aviva backing, and range of tax wrappers cover most people's needs.

It's less suitable if you want control. You can't buy individual shares, you can't pick specific funds, and you can't override Wealthify's asset allocation. Experienced investors who enjoy building their own portfolios will find it frustrating and expensive compared to DIY alternatives.

Mid-range investors — people who know a bit about investing but don't want it as a hobby — face the hardest choice. You could learn to manage a simple portfolio of index funds for a fraction of the cost, but that requires ongoing attention and discipline. Wealthify removes that burden, and for many people, that's worth 0.60% a year.

As recommended by MoneyHelper's platform comparison guide, it's worth comparing several platforms before committing — your ideal choice depends on how much you want to be involved in managing your money.

Your investments are covered by the Financial Services Compensation Scheme up to £85,000 per person. For more on ISA allowances, see gov.uk.

This article is for informational purposes only and does not constitute financial advice or a personal recommendation. The rates, allowances, and product details cited are correct at the time of writing but can change without notice. Investments can fall as well as rise and you may get back less than you invested. Past performance is not a reliable indicator of future results. Tax treatment depends on individual circumstances and may change in the future. You should seek independent financial advice from an FCA-authorised adviser before making any investment, savings, mortgage, or pension decisions based on this content.