Wealthify joins the growing ranks of the Ethical Robos

Today Wealthify has announced the launch of a range of ethical portfolios, joining the growing ranks of UK robo-advisers which offer ethical investment options.

  • 4 UK robo-advisers now offer an ethical investment option – Moola, PensionBee, Wealthify and Wealthsimple
  •  Recent research by independent financial advice site BoringMoney.co.uk found that 74% of investors are “interested” or “potentially interested” in ethical or socially responsible investing.
  • Younger investors report more interest – over 55% of under 45s said they were interested compared to only 23% of over 55s. The environment topped investors’ concerns, though tobacco was mentioned most as the sector that investors would seek to avoid.

 

Boring Money MD Holly Mackay comments,

When we ask consumers about ethical investing we definitely note growing interest. We anticipate that this will become a mainstream product offering over the course of the next 12 months. A key challenge for providers will be communicating all the nuances of the various flavours of ethical-type portfolios to people in a clear, accessible way.

 

Investors will be able to access the new ethical portfolios with as little as £1. The cost of the portfolios will be higher than Wealthify’s standard portfolios due to the inclusion of actively managed funds. The portfolios will cost from 1.12% a year including fund charges and Wealthify’s account fees (vs fees from 1% for the standard portfolios).

Wealthify has also recently been awarded a Best Buy on the Boring Money website, joining AJ Bell Youinvest, Charles Stanley Direct, Hargreaves Lansdown and Nutmeg. Boring Money’s ratings are based on a range of criteria including user feedback, customer service and cost.

 

ENDS

 

Notes to editors

www.boringmoney.co.uk is an independent research and content business which provides information, tips and Best Buys to consumers. The business conducts regular research with industry providers and consumers and looks at the developing DIY investment market from both the customer and provider perspective. Boring Money holds test accounts with over 25 providers and also holds regular focus groups and interviews with consumers to ensure regular input and feedback from the user perspective.

Founder Holly Mackay has worked in the investment industry for 19 years and is supported by a team of 10 researchers, analysts and marketing execs. www.boringmoney.co.uk is not regulated to give personal financial advice, nor is it regulated by the industry watchdog.

 

For more information please contact:

Cara Whitehouse or Holly Mackay

cara@boringmoney.co.uk / holly@boringmoney.co.uk

020 3871 2524