- Moneyfarm is highly rated in both expert and user reviews, boasting an average of 4.3/5 from 243 user reviews. Users appreciate the platform’s ease of use and the ability to invest in a variety of assets, including shares and ETFs. However, some have raised concerns about customer service and issues with account management.
- Experts commend Moneyfarm for its user-friendly interface and low fees, highlighting its unique position as a digital wealth manager that allows for both automated portfolio management and individual investment choices. They note the platform’s strong customer service and diverse portfolio options, although the minimum investment requirement is considered high.
- Users frequently praise Moneyfarm for its excellent customer service and straightforward investment process, often mentioning the platform’s reliability and good returns. However, there are notable criticisms regarding account management issues and unexpected fees, which have led to frustrations for some customers.
Customer Reviews
Informative and very helpful
Informative and very helpful
Excellent
Excellent
Easy to use, friendly customer…
Easy to use, friendly customer service
easy to understand investments
easy to understand investments
Great app that makes investment…
Great app that makes investment easy. Also good advice given by telephone with your nominated person at MoneyFarm
More experience with this and…
More experience with this and find it comprehensive and user friendly.
5/5
Comprehensive and detailed with plenty…
Comprehensive and detailed with plenty of information and analysis.
Daily updates – good service…
Daily updates – good service with low fees
Modern investment platform
Modern investment platform
The sign of a good…
The sign of a good product is when nothing goes wrong and everything seems to take care of itself. That’s mostly the case with MoneyFarm. I did one one issue where an investment I made was not showing up in my portfolio and the technical support team were excellent in solving the problem quickly.
Regular updated info
Regular updated info
Very good at keeping you…
Very good at keeping you informed about your investment and the current finacial situation
Simple, reliable and quality
Simple, reliable and quality
Fantastic customer support that makes…
Fantastic customer support that makes you feel like a very valued customer. The help and guidance is second to none and the investments themselves are very professionally handled.
Very good investment
Very good investment
It’s quite good and I…
It’s quite good and I hope it will give a good return
Excellent
Excellent
Great investment app. Really good…
Great investment app. Really good customer service. Amazing company
I personally love their customer…
I personally love their customer service, keeping customer in the know and efficient app, flexible and easy to use.
Expert Review & Rating
Moneyfarm Digital Wealth Management Review
Provider: Moneyfarm
Verdict: Moneyfarm is a digital wealth manager that aims to make personal investing simple and accessible. It was launched initially in Italy in 2012 by Italian bankers Paolo Galvani and Giovanni Dapra and entered the UK in 2016 and has big-name financial backers such as Allianz Global Investors, Cabot Square Capital, United Ventures and Poste Italiane.
Is Moneyfarm any good for wealth management?
Yes, Moneyfarm is more of a digital wealth manager rather than a robo-advisor as the portfolios are put together by investment managers, rather than automatically. The automation, as it were, is fine-tuning your portfolio to match your risk/reward choices. Unlike with other robo-advisors, with Moneyfarm you can also top up your portfolio with individual shares and ETFs.
Fees: Moneyfarm charges 0.75% to 0.6% up to £100k then 0.45% to 0.35% over £100k. 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%.
Market Access: You can invest in 7 pre-made portfolios, but also (unlike a lot of other digital wealth managers and robo-adviors) also buy individual shares, ETFs, bonds and mutual funds online. It’s a bit of a shame you can’t buy US stocks, But Moneyfarm is best really for setting up regular investments in a GIA, ISA or SIPP, then letting them grow over time without too much tinkering and speculating on Tech stocks.
App & Platform: It’s really easy to use, plus it puts you through your paces to make sure you understand what you are investing in. Apparently, my Moneyfarm investor profile is “pioneering”, which means I want to take on more risk for potentially better returns.
Customer Service: This is mostly online as you’d expect but solves all issues – I’ve had some good calls with Moneyfarm about how its products work over the years, and its people really know their stuff. If you want to find out more about the ethos, you can read my interview with the CEO Giovanni Daprà on how they are so much more than a robo-advisor.
Research & Analysis: Not much to speak of other than a few guides, but that’s ok, as I don’t really want Moneyfarm spamming me with stock trading ideas.
Pros
- Easy to use with low fees
- The ability to buy shares, bonds, ETFs & funds
- Diverse managed portfolios
Cons
- High £500 minimum investment
- 0.75%* account fee is relatively high
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Pricing
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Market Access
(5)
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Online Platform
(5)
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Customer Service
(5)
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Research & Analysis
(5)
Overall
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Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
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