Greetings all.
I have a small amount invested in Wealth Simple and was wondering what you experts think about both.
Mark.
Am no expert but Wealth Simple looks like Nutmeg, if I’ve understood the proposition correctly (I’m not a customer). You tell them your need/appetite/tolerance for risk and they choose investments from a limited basket of funds that fit your risk profile, and you pay them a 0.7% management fee for that. They do it for you, nice and easy.
An execution-only stockbroker like Freetrade won’t help you work out your risk profile, and won’t choose an allocation of funds that meet that profile, and will usually have a broader selection of funds and stocks. And they don’t charge 0.7%. So cheaper, but you have to do more work yourself.
I’m not a fan of the fees roboadvisors like WS and Nutmeg charge, so I prefer to use Freetrade to buy things like VWRL or whatever more cheaply. But “doing it for you” is a still a valid way to invest!
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Hello Rod,
Thanks for your extensive reply much appreciated. I now understand more and can make a more informed investment decision.
Hi Mark
We cant give investment advice and if we did you should be exceedingly careful on taking it.
Most people agree that diversification is the safest form of investing. Invest in different ETF by different fund managers in different places and you will be more diversified than anyone. If you click discover on freetrade app you can select stock ETF and see all the ones freetrade has. More will be added over time
The s&p 500 tracker has yielded more than most other index over many decades. The nasdaq100 is technology focused and is possibly one of the best trackers in recent times.
Hi Ben,
I fully understand advice cannot be given I probably should have worded it better and ask for how freetrade ISAs work.
I completely agree diversification is the safest form of investing.
I currently have 16 stocks I have hand picked which I am investing in and I’m quite happy with my choice so far except a couple I might sell soon?
Thank you for your contribution.
What’s the difference between iShares and Vanguard. If you look at the s&p 500 a big difference in the prices.
Apologies if this seems a stupid question.
No such thing as stupid question.
iShares and Vanguard provide list of funds that track all sorts of indices like S&P 500, FTSE and etc. Prices that you see are the prices of said funds, hence the difference.
Thanks for the explanation.
I have opened my ISA but not deposited anything yet.
Am I correct in saying if your investment is below a certain amount it makes more sense to use the basic account?
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