If you click a link with an * to go through to a provider, we may get paid. This usually only happens if you get a product from it. This is what funds our team of journalists, and keeps us free to use. Yet there are two crucial things you need to know about this.
- This never impacts our editorial recommendations – if it's in, it's in there because we independently rate it best.
- You'll always get as good a deal (or better) than if you went direct.
For a more detailed explanation see How MSE is financed.
-
More on this topic
Investing for beginners
Are you thinking about investing for the first time? Our guide takes you through the 10 things…
Stocks & shares ISAs
Every adult has a new £20,000 ISA allowance for 2022/23. And while many prefer the security…
Automatic savings apps
An autosaving app uses clever tech to work out what you can afford to save, then automatically…
MSE weekly email
FREE weekly MoneySaving email
For all the latest deals, guides and loopholes simply sign up today – it's spam-free!
Robo-investment cashback deals
Invest in funds & get cashback
Updated 24 January 2023
Robo-funds are far simpler than normal investing, but you're tied to a 'portfolio' of funds. We think this is somewhat restrictive, though sometimes these robo-funds offer cashback, which gives you a head start over other funds.
Without the cashback, they're fighting against other standard investments, and we'd always tell you to look for lower fees and a bigger choice. But this cashback provides a good starting point and other products would do very well to beat it.
MoneySavingExpert.com's speciality is not what to invest in – we only look at these as deals, as we can't tell you what is going to be a good or bad investment. So the most important thing to understand is:
We're not saying to go for these funds – we're just saying that if you're planning to anyway, then make sure you get the cashback.
New to investing? If you're inexperienced in this, it's worth reading our
beginners' guide to investing to get more of an idea of what's involved.
The five robo-investing need-to-knows
Before you get started, here are five things you should know about robo-investing.
1. With robo-investment firms you can't pick your own selection of funds. Instead, your money will be invested in a basket of funds selected by the robo-provider and based on your risk profile (the firm will ask you a number of questions when you sign up to assess the level of risk you're willing to take).
2. Always keep an eye on fees. Because even small fees year after year can eat into your investment.
3. The bigger the investment, the less the cashback will matter. If you invest more than the minimum needed to receive the cashback, do remember that you'll be more reliant on market movements to boost your returns in relation to the cashback.
4. ALWAYS remember that the value of your investment can go up as well as down. As with any investments, the value of your funds can go down as well as up, and while it's unlikely, you could lose all your money.
5. Don't forget your ISA allowance. If you want to open an ISA, remember that everyone in the UK aged 18+ has a £20,000 ISA allowance for 2022/23.
For more options, see our Stocks & shares ISAs guide. You can only contribute to one stocks & shares ISA each tax year.
MSE weekly email
FREE weekly MoneySaving email
For all the latest deals, guides and loopholes simply sign up today – it's spam-free!
Current robo-investment cashback deals
Warning. Investments can go down as well as up in value
There are no guarantees when you invest in the stock market, and your money can go up as well as down in value.
We can't tell you whether investing is right for you, but if you are going to do it, it's recommended you invest for at least five years. This is because the longer you invest for, the longer you have to ride out any bumps along the way.
Cashback: £50 if you invest £50+.
To get it, open an account by 28 February 2023 and then fund it with £50+ by 31 August 2023. Keep £50+ invested for a year – you'll then get the £50 within 30 days.
Annual platform fee: 0.6%.
Annual fund-manager charges: About 0.16% (original plans), 0.7% (ethical plans).
Exit fee: None (though you won't get the cashback if you don't keep £50+ in the account for 12 months). |
5,700 left. Free £50 investment – just put in £50, get £50 cashback after a year. Newbies to Wealthify* can get the cashback when opening a stocks & shares ISA, junior ISA, general investment account or self-invested personal pension. So open an account, put your £50 in and wait – and even if your investments flop, at worst you more or less break-even. The only real risk here is if Wealthify were to cease trading in the next 12 months, in which case you wouldn't get your cashback.
You'll be investing in a fully managed set of funds, which Wealthify chooses for you based on the level of risk you're willing to take – it'll first ask you a few questions to assess your risk profile.
Remember to factor in the monthly platform and fund manager fees that typically come with investing. For example, with £50 invested you'd pay about 38p in annual fees on Wealthify's 'original plan'. And bear in mind that the underlying investments could still go up or down in value.
|
Important. The fact we've included Wealthify in this guide doesn't mean we RECOMMEND it – we don't do investment tips. It's just if you're going to invest anyway, you can get cashback. If Wealthify were to go bust, Financial Services Compensation Scheme (FSCS) investor protection would apply – see investment FSCS protection for full info.
Spotted out of date info/broken links? Email: brokenlink@moneysavingexpert.com
-
Energy regulator orders suppliers to improve customer service after finding major failings
2 February 2023![]()
All energy suppliers were found to have weaknesses when it comes to customer service and complaints, according to regulator Ofgem’s latest report on energy providers’ performance. E.on was the worst offender, and the regulator has ordered it to make immediate improvements or face further action. -
Paperchase collapses into administration - use your gift vouchers NOW while you still can
2 February 2023![]()
If you're a regular shopper at stationery retailer Paperchase, we've rounded-up your refund and return rights, plus what to do with any unspent gift vouchers. The firm collapsed into administration earlier this week, though the brand and intellectual property rights have since been purchased by Tesco. -
Pregnant or have a child under four? Check if you can get £17+ a month to help with food costs as over 200,000 are missing out
2 February 2023![]()
If you're pregnant or have a child under the age of four, and you're on a low income, you may be eligible for a Healthy Start prepaid card offering at least £4.25 a week to spend on healthy food, milk and vitamins. -
Bank of England increases base rate to 4% – what the rise means for your mortgage and savings
2 February 2023![]()
The Bank of England has increased the base rate from 3.5% to 4%. This rate is used by the central bank to charge other banks and lenders when they borrow money – and so it influences what borrowers pay and what savers earn. -
Water bills to rise by £31/year in England and Wales – but there are still ways you can cut costs
2 February 2023![]( "130182065")
The average annual water bill in England and Wales is set to rise by around £31 a year (7.5%) from April, industry body Water UK has announced today.
-
Martin Lewis: Is it time to ban unnecessary Christmas presents?
5 December 2022![]()
Update September 2017: It’s eight years since I first braved this subject, expecting a snowstorm of protest. Instead, year after year more join in, like Julia who recently tweeted me, “@MartinSLewis, finally took your advice and told my family I can’t afford Christmas presents. What a weight off my mind. Thank you.” One year even the Archbishop of... -
Martin Lewis: The one thing everyone aged over 66 needs to know
29 November 2022![]()
It is a national tragedy that getting on for a million pensioners, many of whom have been paying into the system for years, are missing out on a critical boost to their income. It's called pension credit, and this year it also means you get an extra £650 to help with energy bills.
MSE tools & calculators
Clever ways to calculate your finances
