Frequently Asked Questions
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How much of a fee discount do I get for being in a Circle?
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Whether you start or join a Circle, you can benefit from a discount on the annual management fee you pay to Wealthify. The discount does not apply to annual fund charges. Size matters in the world of Circles, so the more people in your Circle, the bigger the discount you all get. The table shows you the level of discount available to you as your Circle grows. Of course, your actual fee also depends on the size of your investment – see Edward’s example below. Learn more about fees >
Circle size Discount 2+ 5% 5+ 10% 25+ 15% 50+ 20% Take Edward as an example.
Ed has £30,000 invested with Wealthify. The normal Wealthify management fee he pays is 0.6% per annum, which equates to £180 per year.
Ed created a Circle and invited seven of his friends. Six of them signed up to Wealthify and each of those invited some of their friends. In all, 26 people joined Ed’s Circle, so now they all get a 15% discount on their Wealthify management fees and Ed now pays a fee of £153 a year.
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Are my investments pooled together with other members of my Circle?
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Absolutely not. Your money is invested in your own Investment Plan, not anywhere else, and your investments and their performance is in no way linked to anyone else’s. Circles are simply a way to make investing more social and to get a reward for referring friends and family.
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When are Circle discounts applied to my fees?
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We apply your Circle discount depending on the number of invested members in your Circle on the last day of the month, at midnight. Any discount will be applied to that month’s Wealthify management fee. The discount is not applied to fund charges.
For example, if you had 10 people in your circle on January 31st, you would be awarded a 10% discount on your fee for the month of January. If that went up to 25 people by the 28th February, your February fee would be discounted by 15%.
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Why would my Circle discount go down?
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Your discount depends on the number of people in your Circle. Members are free to leave a Circle and join another or start their own at any time. If that happens it might mean your Circle drops below the number needed for your current discount to apply.
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Do I get the same discount whether I’m in someone’s Circle or I start my own?
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Yes. We give everyone in a Circle the same discount, no matter who created it or who invited the most members. We think that’s the fairest way.
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How do I create a Circle?
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You can create a Circle online via your Wealthify account, as soon as you’ve signed up and started investing.
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Who can I invite into my Circle?
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Basically, anyone. Family, friends, colleagues, neighbours, or whoever. Your discount (and theirs) will kick in as soon as they start investing.
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How do I invite people to join my Circle?
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Once you’ve created a Circle, you‘ll be able to invite people to join it via Facebook, or via email if you know their address. They can then click a link to accept your invite, and once they’ve signed up and started investing, you’ll all qualify for a discount on your Wealthify management fees.
If you have the Wealthify App, inviting people is even easier – simply share your Circles invite code by SMS, WhatsApp, or social networks.
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Can I invite members to join a Circle if I’m not the owner?
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Yes!
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If I invite people to join my Circle, do they need to be approved by the Circle owner?
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No, that would be too much like hard work! We think being invited is approval enough.
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Can I request to join a Circle?
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Yes, when someone you know shares a Circle invite via their social media account, you will have the option to request to join. Either the Circle owner, or the person who shared the link, must then approve you.
If they use the Wealthify App to share a Circle invite, it's even easier – you just enter the Circle invite code, and you're in!
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Is there a maximum Circle size?
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No, but the maximum discount is reached when your Circle gets to 50 people. Then again, we may introduce some bigger discount tiers later, and it could be pretty cool to have one of the biggest Circles on Wealthify – so keep expanding!
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Can I leave a Circle and start my own?
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Yes. But you can only ever be member of one Circle at a time. So you must leave the Circle you’re in before you can join another one.
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Can I create more than one Circle?
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No, you can only create one Circle at a time, and you can only be a member of one Circle at a time.
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If I started a Circle and then I leave it, does it close?
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Only if you’re the last remaining member. Otherwise, ownership just moves to the next longest-serving member.
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What responsibilities does a Circle owner have?
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If you’re an owner, you’ll be able to change the name, description and photo for the Circle and approve or reject joining requests. All this can be done via your dashboard in your Wealthify account.
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Is any personal data shared through Circles?
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Only your first name is visible to other Circle members. No-one can see your personal account details or your investments.
You can add a bio and chat to fellow members via your Circle dashboard.