- 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
Accessible and relatively cheap fees….
Accessible and relatively cheap fees. Professional in all aspects.
An efficient, proactive organization.
An efficient, proactive organization.
Great service and app
Great service and app
Best in class
Best in class
n/a
n/a
Faultless experience
Faultless experience
Easy and efficient way to…
Easy and efficient way to invest with user-friendly app
Moneyfarm is the investment platform…
Moneyfarm is the investment platform that I’ve been with for numerous years I’ve never looked back.
A great experience in starting…
A great experience in starting to invest for the first time.
Like the opportunity to talk…
Like the opportunity to talk to an advisor and they are excellent at keeping in touch. Risk is managed well when you set up an account.
Great return great telephone support…
Great return great telephone support reasonable fees
Cost effective and good customer…
Cost effective and good customer support, with the exception of one consultant who has now been replaced. Disinvesting can be cumbersome and the process and time scales should be clearer.
Good communicator and client support
Good communicator and client support
Easy to use
Easy to use
Great platform and excellent customer…
Great platform and excellent customer services
Impressive
Impressive
Easy
Easy
Very user friendly.
Very user friendly.
Great value for the customers
Great value for the customers
Brilliant in every regard. Exceptional…
Brilliant in every regard. Exceptional service and customer support as well as investing strategy for a reasonable fees.
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
5Leave A Review
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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.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
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