True Potential Investor pips Charles Stanley Direct and Nutmeg to take highest customer rating in new Boring Money Best Buy Tables
- True Potential Investor customers give the direct investment, ISA and pension provider a 91% recommend score – the highest score
- Next best rated by users are Charles Stanley Direct and Nutmeg with a 82% recommend score
- Boring Money awards Best Buy ratings to 4 providers – AJ Bell Youinvest, Charles Stanley Direct, Hargreaves Lansdown and Nutmeg
In its latest market analysis, Boring Money has reviewed 32 online investment and pension providers and has opened test accounts with 25 to allow for in-depth analysis of the service. The consumer website has also collected nearly 1300 reviews and ratings from investors to support its analysis.
The Consumers’ Verdict
True Potential Investor, Charles Stanley Direct and Nutmeg are most popular with their customers.
Robo adviser Wealthify is nipping at True Potential Investor’s heels with a 89% recommend score from 27 customers to date. It is not included in the rankings as Boring Money has a minimum requirement of 30 reviews before including the user feedback in its scores.
Barclays Smart Investor and Aegon Retiready fall at the bottom of the consumer recommendation ratings, with poor customer service, broken links and long waits for fund transfers the most common user complaints.
The Boring Money Best Buys
Boring Money makes its Best Buys recommendations using a weighted scoring system, which factors in cost, user reviews, service, website and security. Based on all of these factors there are four providers which are awarded the Best Buy rating today. To qualify for this rating, providers need to score at least a 4 star rating from Boring Money, coupled with at least a 70% recommend score from its users.
Fidelity has a 4 star rating from Boring Money but fails to make the grade as it has only a 51% recommend score from users.
Holly Mackay comments, “We have opened test accounts with 25 providers in the past three months as part of our ongoing testing. Customer feedback forms a key part of our research as we reinforce our desk research and subjective experiences with the views of nearly 1,300 investors. Fidelity is a key example of where its functionality ticks our boxes but 106 users only give it a 51% recommend score – these insights have to be added to the mix.”
The new Best Buy pages also support various filters including a beginner filter for the less confident, a cost filter and a good on mobile filter.
Visit the new Best Buys page.