Moneyfarm General Investment Account Review
Name: Moneyfarm General Investment Account
Description: Moneyfarm's GIA is a digital wealth manager and makes setting up a diverse investment account easy and cheap. As with other robo-advisors, you cannot buy individual stocks, but instead choose to invest in any of their seven risk-based portfolios through a stocks and shares ISA, a pension or a general investment account.
Summary
- Investments: Pre-made portfolios
- Minimum deposit: £500
- Account types: GIA, ISA, Pension, JISA
- Account charge: 0.75% annual charge
- Dealing fee: £0
Fees:
Moneyfarm investing account fees are scaled between 0.75% for accounts between £500 and £50,000, then above £100k are 0.45% to 0.35%. Average investment fund fees are 0.2% and the average market spread when buying and selling is 0.10%
Investing Platform:
Moneyfarm’s investment platform is like a big quiz directing you towards the most appropriate portfolio based your responses to risk-based questions.
Pros
- Risk-based portfolios
- Low-cost investing
- Easy-to-use
Cons
- Cannot buy and sell individual shares
-
Pricing
(4)
-
Market Access
(3.5)
-
Online Platform
(3.7)
-
Customer Service
(3.5)
-
Research & Analysis
(3.5)