Scottish Widows Customer Reviews & Alternatives

Is Wealthify’s GIA a Good Investment Account?

Pricing: It costs 0.6% to start investing with Wealthify, which is one of the cheapest robo-advisor GIA fees. There are also investment costs of, on average, 0.15% for original plans and 0.58% for ethical plans.

Market Access: You can’t buy individual shares or ETFs with a Wealthify GIA, so it’s great for people that just want a basic fund to invest in on a regular basis. You can choose from the original or ethical plans and then set how much risk you want to take.

Basically the more risk you take the more stocks (instead of bonds are allocated to your portfolio). It’s a bit annoying that you can’t see easy what each plan contains, but there are fact sheet details tucked away in the FAQs. But essentially, if you want better returns and are prepared to take on more risk it’s about 75% stocks in the adventurious original plan. If you are a cautious investors about 80% of your money is in money market funds (income generating investments) and cash. You can see the breakdown of the portfolios below as of 25/2/26.

App & Platform: Very easy to use on both app and desktop. Wealthify’s investment platform lets you fine-tune your portfolio based on risk, and shows you good visuals of what it may be worth in the future. The user interface is slick, offering you options for setting investment amounts, monthly investment amount and your investment style.

Customer Service: Great customer service from realy people based in Wales.

Research & Analysis: Not really much analysis from Wealthify, but then again if you are a set and forget investor you don’t really need it as the investment team at Wealtify regulary update the plans and portfolios to ensure they are balanced and risk appropriate. There are some quite funny YouTube videos that explain the market, and the odd instagram post with market updates.

Is your money safe with Wealthify? Yes, as with all general investment accounts are authorised by the Financial Conduct Authority (FCA), if Wealthify were to go bust, your funds would be protected by the Financial Services Compensation Scheme (FSCS) up to £120,000.

However, your money is not safe from the plans going down, with investing there is always a risk, but without risk there is no reward.

Is Interactive Investor a good general investing account?

Yes, ii’s GIA won our award for best general investment account in 2023 and 2022. This is because of its excellent fixed-fee pricing, which makes it a good choice for investors with over £10,000 to invest. ii’s fixed fee keeps your total account costs low no matter how big your portfolio gets. You can also invest in a markets ranging from UK and international shares to funds, trusts, bonds and ETFs.

Special Offers:

New customers opening an ii General Investment Account (GIA) by 31 January, 2026, are also eligible for £100 in free trades. Like the ISA offer, no minimum deposit is needed.

You also get free investing for your friends and family. You can give up to 5 people a free investment account subscription with ii’s Friends and Family plan. You pay a single extra fee of £5 a month (free if you’re on the Super Investor plan), and their monthly cost is zero. Each member can invest up to £50,000 in an ISA or a general investing account with free regular investing and no account fees. However, they’ll still pay normal dealing commissions when they buy and sell investments.

Plus you can claim up to £200 when you refer a friend to ii. Recommend a friend or family member and get a £200 reward. Your friend will get their first year’s service plan with no account fees – saving £59.98. To qualify, your friend must transfer or fund their account with at least £5,000 in combined cash/investments. New pricing is due to start on 1 February, 2026.

Fees

A GIA with ii costs from £4.99 a month with its Investor Essentials plan. With this basic plan, trading on UK and US stocks is £3.99. There are two plans above that which include free trades. You can set up regular orders as small as £25 for free with ii’s regular investing service.

Is ii’s GIA Better than its ISA?

The GIA is better if you have lots of money to invest as the maximum you can put in an ISA tax-free each year is £20,000, so anything above that you should invest in a GIA. However, if you have less than £20,000 to invest each year, the ii ISA is better option as your profits will be tax free.

What is ii’s Platform Like to Use?

ii’s platform is very easy to use and it gives lots of market data on potential investments.

Is Lightyear Good for Investing?

Lightyear was voted best investing app in the 2026 Good Money Guide Awards and is a simple and approachable way to invest in stocks and ETFs without unnecessarily large fees. A very well-designed low-cost investing app with discounted FX charges, limit and recurring orders for investing in local and international markets.

Special Offer: Sign up with the code GOODMONEYGUIDE to get up to £100 in fractional share to your GIA. Capital at risk.

– – Terms apply: https://lightyear.com/en-gb/signup-promotion-terms. You must be a new user and deposit at least £100 within the first 15 days after signing up. The reward can be withdrawn 6 months after it’s credited.

Fees: Lightyear is cheap for investing. The GIA has no account fee and charges only £1 commission for UK trades and up to $1 for US stocks but free for trading ETFs. If you are investing in a stocks and shares ISA, there is no commission on buying and selling stocks and shares. Much like the founders’ alma mater, Lightyear makes its money from FX fees which it adds to the interbank rate, so conversion costs are transparent.

When I interviewed Martin Sokk, he told me Lightyear planned to expand internationally fast so that its users could invest in both their local and the US markets, since many people want to invest in US stocks.

And rightly so: US shares are all household names, and one of the key drivers for investing is to buy companies you love and use. Lightyear will make money charging 0.1% per trade  (or $1, whichever is bigger) and converting GBP, HUF & Euros, etc. into USD when people buy US stocks.

Lightyear charges 0.1% for converting money into USD and EUR, which is higher than Interactive Brokers’ 0.03% but much lower than the 0.5% charged by AJ Bell, Saxo Markets and IG, or the 1% from Hargreaves Lansdown and Interactive Investor.

FX must be a key part of Lightyear’s monetisation strategy: if you charge very low commission and account fees, you have to make money somehow. So Lightyear aims to make its money in the background, initially from foreign exchange fees. FX is a good way to make money because a) no-one really understands how the pricing works and b) you don’t see the charge, it’s built into the buy/sell spread.

You can see in the example below what the fees were when I bought some Tesla shares while testing the app for this Lightyear review.

Quite a nice touch is that you get the option of making purchases repeat orders, a great way to build good investing habits. Just by investing small amounts each month, the genius of compounding returns will help you build a larger portfolio over time. Check it out with our investing returns calculator.

Market Access: Lightyear constantly adds new instruments, bringing the total up to almost 6,500. These include well-known UK names such as Rolls-Royce, easyJet and IAG; to defence ETFs, US stocks. This is great because one of my concerns about new investing apps is that they normally just cater to the most heavily traded stocks, which means they are not great for more adventurous investors. It’s great to see Lightyear providing wider market access.

Plus, it’s proactive. Lightyear says it has put live 98% of non-complex US instruments asked for by customers in just 3 months.

One of the other really cool things about Lightyear is that you can listen to earnings calls directly on the app.

As well as being able to buy fractional US shares, ETFs though limit orders and regular investing, you can also quickly see which shares pay the highest dividends or make the most money relative to their share price to help you pick stocks.

Multicurrency account & order types

Another point to make here is that you also get a multi-currency account, where you can hold foreign currency. The advantage of this is that you don’t need to do as many FX conversions which can help keep costs down.

Related guide: Compare FX rates for buying US stocks from the UK.

Progression to servicing local customers and local markets

When Lightyear first started, you could only invest in a handful of UK stocks, and they were ADRs listed in the US denominated in USD, rather than the local listings on the LSE. So, you were paying an FX fee when you really shouldn’t have to. Admittedly, there is no stamp duty so technically paying 0.1% on FX rather than 0.5% to HMRC is cheaper.

Lightyear has a cash (money market fund) and investment ISA, but no SIPP account, but I suspect that is next on the “product roadmap”.

Are your investment safe with Lightyear?

Yes, it’s safe to invest with Lightyear. Lightyear U.K Ltd is authorised and regulated by the Financial Conduct Authority (FRN 987226). Lightyear is protected by the Financial Services Compensation Scheme (FSCS). FSCS protection applies to client money only where held with banks, not where held in QMMFs.

In the unlikely event of anything happening to Lightyear, there’s no way for creditors to get hold of the investments or cash that customers hold with us.

Keep in mind, though, that your investments are not safe from losing money with Lightyear. Overall, the market generally goes up, but there are peaks and troughs along the way.

Like Transferwise, like Lightyear

To draw on one final Transferwise comparison, it is very easy to use app-as-a-tool to help you start investing as cheaply as possible. The thing is though is that, transferring money is like car insurance. No-one really has any loyalty to their insurer, they just do it and move on. Investing is different. Investing is not like insurance, when you open an investing account, you could be using it for the next 30 years.

I think there will always be a place for traditional investment platforms because they provide excellent customer service and brand loyalty, they are mature platforms for mature investors and fees will eventually come down, as they have done in the past. Same as with Simpsons Tavern, it may not be as good for you as veganism, but if it survives, people will continue to go because they like it.

But, if low-cost investing apps are a gateway to getting more people to invest for their future, then they are the future too and will hopefully mature along with their customers, and Lightyear, in particular, is a great place to get started.

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.

Is AJ Bell's GIA a Good Account? 

Yes, AJ Bell’s GIA is one of the safest and cheapest ways to invest – outside your tax-free allowances in SIPPs & ISAs – for longer-term investors in the UK.

AJ Bell won our award for Best Investing Account 2024 due to its excellent market access, low costs and customer service scores in our annual survey.

Fees: AJ Bell charges 0.25% of the value of your investments for a general investment account, but share account fees are capped at £3.50 a month. Dealing costs are £1.50 for funds and £5 for shares but drop to £3.50 where there were 10 or more online share deals in the previous month.

Market Access: AJ Bell’s GIA is most suited to investors who want the cheapest overall investment platform for starting to grow a small investment portfolio. It offers share dealing in over 24 stock markets, bonds, ETFs and over 4,000 funds (of which around 400 are investment trusts), including a range of the company’s own funds that have been created in-house so you can invest by how much risk you want to take, or by theme or region.

App & Platform: Both apps and web version are really simple to use, no complaints.

Customer Service: Top notch, you can actually phone someone up to ask a question.

Research & Analysis: As well as being a super easly platform for beginners AJ Bell is also a serious platform for serious investors and this in reflected in the quality of their research. There are some really in-depth reports on funds and shares, plus you get a free subscription to Shares Magazine worth £220 a year by maintaining a balance of £4,000 or more across your AJ Bell investing accounts.

Special Offers: Recommend a friend, and you’ll both get £100 gift vouchers. If you recommend a friend to AJ Bell and they invest more than £10,000 in a SIPP, ISA or LISA, you’ll each get an Amazon gift card worth £100.

Switch your share dealing account and receive up to £500 to cover exit fees. If you transfer your share dealing GIA valued at more than £20,000 to AJ Bell, it will help cover any exit fees charged by your current provider. AJ Bell will cover £35 per investment moved and up to £100 for general exit fees, up to an overall maximum of £500 per person.

What is AJ Bell’s Platform Like to Use?

AJ Bell’s investment platform is functional and well laid out. Key share and fund information is available to view at the time of execution.

Is HL's GIA a Good Account?

HL is good for investors looking for more than just somewhere to buy and sell shares. The platform offers the most account types of all the investment platforms we compare, including a GIA, stocks and shares ISAs, lifetime ISAs, and junior ISAs. Plus, it has one of the best research portals to help you choose your own investments. And it boasts some of the widest market coverage, including thousands of UK and international shares, over 3,000 funds, ETFs, investment trusts, and corporate bonds.

Fees

There is no account charge for shares in a GIA with HL. Funds are charged at 0.45% for the first £250,000. There’s no charge for buying funds, but shares are charged at £11.95 per deal or £5.95 if you do over 20 deals per month.

Is HL’s GIA Better than its ISA?

It makes sense to open a GIA only after you have exhausted your ISA allowance. With the GIA from HL, you can invest as much as you like but with an ISA you’re limited to £20,000 a year in the tax-free wrapper.

What is HL’s Platform Like to Use?

HL’s investment platform is one of the best around. HL provides a huge amount of technical and fundamental data to help you choose investments.

Is Dodl a good investing app?

AJ Bell Dodl is a great way for the next generation of investors to invest with a “low-cost, little effort” app which focuses on making investing easy. Which it does well, Dodl is very user-friendly, has great educational content and is one of the cheapest ways to start investing.

Is the CMC Invest General Investment Account Any Good?

If you are just starting out investing, then CMC Invest is a good general investment account (GIA) for some longer-term investments. But, if you are an established and experienced CMC Markets customer you may find the CMC Invest offering too basic. Better options for sophisticated investors would be Saxo, or Interactive Brokers.

Investments: Shares & ETFs

Minimum deposit: £0

Account types: GIA, ISA

Account charge: £0 – £10.99 per month (Premium previously £25 a month)

Dealing fee: £0

Fees: General investment accounts are commission and fee free. ISA accounts cost from £6.99 a month and are included in the Plus plan. For US shares there is a conversion fee of 0.39%-0.99% depending on your account.

Investing Platform: CMC Invest’s app gives you access to major stocks, and has a screener to help search for potential investments.

Is IBKR's GIA a Good Account?

IBKR’s GIA is its “universal account” that lets you invest in all asset classes via shares, CFDs, futures, options or funds.

The account is excellent for sophisticated investors who want to manage their own portfolios with complex order types. It’s ideal for active investors who need access to a wider range of investment products like derivatives, options, and futures. IBKR is also one of the cheapest investment platforms across all asset classes, as it was built on offering electronic discount brokerage.

Fees

There is no account charge for general investment accounts at IBKR. When you buy and sell shares minimum dealing commissions are £1 in the UK or 0.05% of the deal size.

Special Offers

IBKR clients can earn $200 for each qualified referral while giving their friend the opportunity to earn up to $1000 of IBKR stock.

What is IBKR’s Platform Like to Use?

The investment platform is a slimmed-down version of its exceptional desktop trader station. For investing it gives you a good overview of shares and funds.

Is IG's GIA a Good Account?

Yes, we rank IG as one of the best combined investing and trading platforms in the UK. You can invest with IG through a GIA, ISA or SIPP in either individual stocks or through pre-made Smart Portfolios. One letdown, though, is the lack of access to funds and bonds – you’ll be better served by a traditional stockbroker like Hargreaves Lansdown. And unlike some rivals, like Bestinvest, IG can’t provide advice on investments.

Fees

IG charges a flat custody fee of £24 a quarter (£96 a year) for its GIA. But if you have more than £15,000 in a Smart Portfolio managed fund, or place over three trades per quarter, that fee is waived. Standard dealing fees are £8 for UK and £10 for US shares. Smart Portfolio fees are 0.5% and capped at £250 per year. Fund management charges are 0.13% and transaction costs are 0.09%.

Special Offer: Free US stock investing. There is zero commission on US share trades and just £3 on UK share trades when you trade three or more times a month.

What is IG’s Platform Like to Use?

IG’s investment platform is the same as its trading interface so this will be familiar to its short-term speculators. The platform offers good visuals of investments, with associated news and analysis.