Please note: this blog was published in March 2017 and its content is based on what was correct at the time of writing. As a result, some of the facts may no longer be current or relevant.
Today, we make another great stride forwards in our mission to democratising investing.
This is because we’ve reduced the minimum amount you need to start a Wealthify Plan from £250 to just £1*, meaning even more people can try investing.
And if you're thinking, "that doesn't seem like a lot. Can you really start investing with just a Pound?", the answer (thanks to our Investment Team), is yes.
We typically use between 10-15 investment funds in Plans ranging from £1 to £2,000 in value, which will contain thousands of investments in total. This means that even smaller investors have a suitable level of risk for their investment style.
What’s more, we aim to keep our management fees and fund charges low and affordable too.
And we’re not stopping there. We’ve made investing more straightforward and transparent, so that it’s even more accessible to everyone.
We’ve made fund charges clearer too, so that you know exactly what you’re paying. Fund charges are taken at source by the companies who manage the funds into which we invest your money, and they are paid in addition to the annual management fee you pay Wealthify.
We’ve highlighted the charges prominently on the fees page, and we’ve included them on the Plan Summary page, before you sign up.
Most importantly, we show the amount you can expect to pay in pounds and pence, and not just as a percentage figure, ensuring that even the most inexperienced investor is completely clear on the fees they can expect.
We’re launching an app
We’ve developed an app for iOS and Android app that features enhanced security measures, including fingerprint ID and a host of features that improve accessibility, so wherever you are, your investments are at your fingertips.
*You can invest from as little as £1 with our Stocks and Shares ISA, Junior ISA and General Investment Account. The minimum investment for our Personal Pension is £50.
The value of your investments can go down as well as up, and you could get back less than what you invested. Past performance is not a reliable indicator of future growth.