Best investiment apps in UK??

andrea1983

Hi,

I've been looking for investing app to be used here in UK and so far from my researches it seems Nutmeg and Wealthify are the most popular ones.

Does anyone of you guys have any feedback on regard of those apps?? Which one would you choose between the two??

Also, I'm happy to hear if you have any other app to suggest that is not one of those??

Any app for couples who want to jointly invest?? (I found Twine but it seems to be oriented more to the US market, would that make any difference if investing from UK??)

Thanks for helping!

Alexland

Robos such as Nutmeg and Wealthify are bland, mid-price and aimed at people unwilling to put much effort in. If you are willing to invest the time for the opportunity to earn a better result first determine the investment you want to make, then choose the tax wrapper, then choose a suitable platform then consider how you see performance.

In the UK it is usually more tax efficient to invest via individual accounts such as ISAs or Pensions rather than as a couple.

Albermarle

It might seem an old fashioned view but an app can be actually be a negative for investing .
Successful investing for most people means long term investments with a minimal amount of changes. Pretty boring in fact .
An app can encourage you to fiddle /meddle with the investments and make unnecessary short term changes .
Having said most of the better known investment platforms have apps nowadays but I only look at them and never use them for actual investment research or changes .

dunstonh

Are you intending to invest to make money as your priority or are you looking for the best app?

Does anyone of you guys have any feedback on regard of those apps?? Which one would you choose between the two??

I would use neither as they fail to meet my investment objectives.    

Any app for couples who want to jointly invest?

That would not normally be a good idea as you miss out on tax efficiency

 (I found Twine but it seems to be oriented more to the US market, would that make any difference if investing from UK??)

There is no firm called Twine on the FCA register.   So, yes, it makes a difference.  It means they cannot offer financial services within the UK.

andrea1983

Thanks for the replies, I really appreciate your words!

Alexland

andrea1983 said:

Thanks for the replies, I really appreciate your words!

You may find the monevator guide a good place to start:

https://monevator.com/category/investing/passive-investing-investing/

Thrugelmir

What functionality are you looking for? 

AnotherJoe

Unless you are daytrading, whats the relevance of there being an app?

p.s. by "app" i thought you meant something that ran on a phone or tablet?

Do you mean a robotrading/automated platform since thats what Nutmeg is?

VXman

AnotherJoe said:

Unless you are daytrading, whats the relevance of there being an app?

p.s. by "app" i thought you meant something that ran on a phone or tablet?

Do you mean a robotrading/automated platform since thats what Nutmeg is?

Just what I was thinking. A little confusion in terminology here.

 I use Wealthify but it is essentially just a platform for investing which you can manage from an app or their web page log in. The app doesn't really do anything other than show you how your investment is doing and allow you to add or withdraw money. Wealthify is OK as a managed/leave alone fund. It's performance for me has been middling over the last couple of years and it's not the cheapest in terms of charges.

Hargreaves Lansdown has a lot more options in terms of funds and shares. However I find it easier to access info online rather than through their app.

I also have investments through Vanguard (vanguardinvestor.co.uk) but they don't even have an app! However, they are the cheapest in terms of charges.

If you want simple stocks and shares trading in an ISA you could use Trading212. Their app is very easy to use and no charges but be careful it's so easy you could end up in trouble if you don't know what you are doing. Don't get a CFD account - you will quickly lose all your money!

And yes - the best way to invest is by opening an ISA but that can only be done in one name. In fact I am not aware of any investment accounts that can be joint like a bank account. Me and the wife have various, some in my name, some in hers- I just manage them all!

AnotherJoe

VXman said:

And yes - the best way to invest is by opening an ISA but that can only be done in one name. In fact I am not aware of any investment accounts that can be joint like a bank account. Me and the wife have various, some in my name, some in hers- I just manage them all!

I have had joint trading accounts with both ii and HL.

"obviously" you cannot have an ISA in joint names.

Alexland

VXman said:
I also have investments through Vanguard (vanguardinvestor.co.uk) but they don't even have an app! However, they are the cheapest in terms of charges.

You can always bookmark a shortcut to the login page as an icon on your phone's home screen so it feels like an app but without using up much memory, needing to aoply updates, etc.