New research reveals top value DIY platforms according to consumers

Latest research from Boring Money has revealed that PensionBee, Trading212, and Etoro rank highest in value for money scores by their customers. AJ Bell, Vanguard and Freetrade round out the top 5 respectively.

The same research also explored which investments brands were most likely to be recommended by their customers, by way of NPS scores. The data revealed that AJ bell, Hargreaves Lansdown and e-Toro were the most recommended brands.

Boring Money CEO Holly Mackay states: “Time and time again, when we research ‘Value’ with the end-customer, we see that they have an innate internal algorithm to decide value. Which is not strictly correlated with price. We can see this with funds, platforms and advice firms.

Fundsmith is one example. Overall its Value scores have been consistently high for 4 years. But when we ask customers to consider Value in terms of price, Fundsmith rank towards the bottom.

With platforms, Hargreaves Lansdown are not ranked in the top 8 for Value For Money, but are second in terms of likelihood to recommend. And their customers are largely very happy".

Boring Money has been researching helping asset managers to define and then assess value, and is now extending to capture value at scale for platforms, having surveyed 3000 platform customers and over 6000 platform reviews from boringmoney.co.uk.

Holly concludes “The component parts of value are not static. Data from our website shows that consumers are currently more cost-conscious than ever. Pricing related comparison and engagement on our best buy tables is at an all-time high. Consumers are filtering and browsing on pricing, more so than any other metric. Customer reviews are the next most important metric.”