Frequently Asked Questions

Who is Wealthify owned by?

Wealthify is an independent, limited company. We are not owned by a big bank or investment company – this enables us to be agile and to act in the best interest of our customers, rather than our shareholders. We’re fully authorised and regulated by the Financial Conduct Authority and our customers’ money can be covered by the Financial Services Compensation Scheme (FSCS) up to £50,000.

Is my money safe?

Yes, your investments will be held with Winterflood Business Services who act as custodian for our customers’ money. They are a global financial services provider, regulated by the Financial Conduct Authority (FCA) and part of Close Brothers Group, who have been trading for more than 130 years. They hold your cash and investments separately from their own (ring fenced) in accordance with the FCA’s client asset rules, so even if Wealthify went into administration, our creditors would not have a claim to your investments.

Where is Wealthify based?

We’re based in Cardiff, in South Wales. Wealthify is a UK limited company registered in England and Wales (No. 09034828). Our registered office is Tec Marina, Terra Nova Way, Cardiff, CF64 1SA. We are fully authorised and regulated by the Financial Conduct Authority (No. 662530).

Who decides how my money is invested?

Wealthify has a team of investment experts with 55 years of combined industry experience in established UK firms like Brooks Macdonald, Man Group Plc and RAW Capital Partners in Guernsey. Our experts have developed an investment system that uses algorithms to pick the best funds available to you, then builds you an investment plan that suits your goals and attitude to risk. And because things are always changing in the financial markets, our team monitors and adjusts your plan regularly, to make sure your money is always invested in the best places.

Do you provide financial advice?

No. We are not regulated to give you advice on whether investing is right for you. If you’re unsure, you should always seek the advice of an Independent Financial Adviser (IFA).

Can I pick stocks or choose what I invest in?

No, that’s what we’re here for. We build your investment plan based on what you tell us about your attitude to risk with money, how much you have to invest, and by when you hope to reach your savings goals. Then we monitor your investments to make sure they’re on track.

Is there a minimum amount I need to invest?

We think everyone should have access to investing, to help their money grow. That’s why you can get started from just £1. It’s flexible too, so you can make additional one-off or regular monthly payments, or withdraw your money whenever you like.

Is my money locked in?

No, not at all. You can withdraw your money at any time with no penalties or charges to pay. It will take up to 5 working days for us to release your money from your investments and then up to 5 more for the money to arrive in your bank account. It could be quicker, but we can’t promise.

Can I monitor my investments?

Yes, you’ll have 24-hour, year-round online access to your investments on PC, tablet or your phone. You can view and edit your Wealthify plans and add or withdraw funds in just a few clicks. Your Plan detail page shows you the lifetime performance of your plan, the assets you hold and your full transaction history, including monthly fee payments. It’s good to check in from time to time, but remember, investing is a long-term savings strategy.

Can I invest monthly?

Of course! You can make regular payments from just £1 per month by setting up a standing order, or make manual payments as many times as you like each month, whenever you can afford it.

Can I invest in an ISA?

An ISA is an easy way for UK residents to save and invest tax-free. It’s a wrapper you put around your money to protect it from the tax man. You can currently invest up to £20,000 tax-free in an ISA in each tax year in a cash ISA, Lifetime ISA, Innovative Finance ISA or investment ISA, or you can split the allowance between them. Please note, Wealthify only offers investment ISAs.

Is investing risky?

Yes, all investing carries an element of risk, but Wealthify lets you choose the level of risk you’re comfortable to take. Our five-point scale lets you choose from a 'cautious' (low-risk) approach, to a more 'adventurous' (high-risk) approach. We also build you a diversified investment plan, meaning we don’t put all your eggs in one basket. Instead, we spread your investments (eggs) out across a number of different assets and markets (baskets). That way, you’re not relying on one particular ‘basket’ to get a return on your investment. Spreading (or diversifying) your risk is generally accepted as the most sensible way to invest, but it’s still never risk-free.

What sort of return can I expect?

When you build your Wealthify Plan, we give you a ‘predicted value’, which is an indication of what your money could be worth at the end of the time period you select. To calculate this figure, we use ARC benchmark data, an industry-standard measure that gives us information on the past performance of hundreds of comparable private investment plans. We use this data to help predict the most likely future value of your investments. Naturally, figures are not guaranteed and predictions are never perfect, but it will give you a good idea of what your investment could be worth.

Who are Winterflood Business Services and what do they do?

Winterflood Business Services act as your custodian. This means they are responsible for holding your cash and investments safely. They are regulated by the Financial Conduct Authority (FCA) and are part of Close Brothers Group, who have been trading for more than 130 years. They hold your cash and investments separately from their own (ring fenced) in accordance with the FCA’s client asset rules. 

Can you really build me a diversified portfolio with just £1?

Yes. We believe we now offer the best-value investment plans for smaller investors, because even if you only invest a small amount, you get lots of investments from markets around the globe, meaning your risk is spread as thinly as possible (which is known as diversification!)

 

Customers investing smaller amounts of below £2000 get a plan containing around 15 funds, made up of approximately 6500 investments in total. We use mutual funds for these Plans, because they can be broken up into smaller pieces, which is ideal for lower-value plans because it means we can buy you more of them. Plans of more than £2000 will contain up to 20 funds, including some more expensive funds known as Exchange-traded Funds (ETFs). These Plans will contain around 8000 investments in total. Lower value Plans may hold a larger proportion of cash than higher value plans, but will still contain as many as 15 funds.

 

All this means that every Wealthify Plan, no matter what its value, will contain an appropriate level of diversity for your investment style, so it doesn’t matter whether you start investing with £1, or £1,000,000, you’ll have a Plan that suits you. If you have a particular investment goal, you can see how much you need to invest and how much you could add each month to reach your target, on our create a plan page.