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Wealthify is backed by Aviva, the UK’s largest insurance provider and a global financial services company.
Wealthify remains fully authorised and regulated by the Financial Conduct Authority. Our customers’ money will be covered by the Financial Services Compensation Scheme (FSCS) up to £85,000.
Aviva and Wealthify are independently covered by the FSCS scheme, so a customer holding funds with both companies will be covered by the FSCS on each of their balances up to £85,000.
Is my money safe in my investment Plan?
Yes, your money is safe when using Wealthify as the companies we work with, and Wealthify itself, are regulated by the Financial Conduct Authority (FCA). All assets in our Stocks and Shares ISAs, Junior ISAs (JISAs), General Investment Accounts (GIAs), and Self-Invested Personal Pensions (SIPPs) will be held in accordance with the FCA's Client Asset (CASS) Rules; meaning all parties hold your cash securely and separately from their own. For more information, please read Wealthify's Investment Terms and Conditions.
Alongside the protection outlined above, up to the first £85,000 of your money invested with Wealthify may be protected by the Financial Services Compensation Scheme (FSCS) in the event of the insolvency of our Pensions custodian Embark Investment Services Limited, or Wealthify itself.
It's important to understand that the FSCS doesn't cover you in the event that your investments do not perform as expected, and you get back less than you originally invested. For more information about FSCS cover for investment products, visit the FSCS website.
Is my money safe in my Savings Accounts?
Yes, your money is safe when using Wealthify; as the companies we work with, and Wealthify itself, are regulated by the Financial Conduct Authority. For more information, please read Wealthify's Savings Account Terms and Conditions.
Instant Access Savings Account and Cash ISA
Your funds are held by ClearBank Limited.
Alongside the protection outlined above, up to the first £85,000 of your money invested with Wealthify may be protected by the Financial Services Compensation Scheme (FSCS) in the event of the insolvency of ClearBank, or Wealthify itself. Please be aware that all your eligible deposits in accounts powered by ClearBank are added together when determining your level of FSCS protection.Compensation is limited to a maximum of £85,000 per person, per banking licence. Visit the ClearBankwebsite to see which other deposit providers have accounts using ClearBank's banking licence.
If Wealthify were to fail: ClearBank will continue to hold your funds and there would be no need for the FSCS to step in.
If ClearBank were to fail: you would need to make a claim via the FSCS; which would step in and protect your funds up to a maximum of £85,000.
For any other queries about FSCS cover with Wealthify, visit our dedicated FSCS Protection page.
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 authorised and regulated by the Financial Conduct Authority (No. 662530).
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).
Is my money locked in?
This depends on which product you have with us.
Savings Accounts
With our Instant Access Savings Account and Cash ISA, you should receive withdrawals in your account within 3 hours, and any funds will be paid into your nominated bank account.
Investment Products
Our ISA and GIA accounts are entirely unrestricted so that you can withdraw money at any time, without any charges or penalties. We’ll need to sell your investments to release the funds, which will take up to 10 working days.
With our Junior ISA and the Wealthify Pension, your money is locked until they reach maturity. For our Junior ISA, this is the date of the child’s 18th birthday, when the account will automatically transfer into an adult ISA. For our Pension, it’s the date you turn 55 (will increase to 57 from 2028).