Another Wealthify £50 offer June 2022 - new customers only

masonic

texas_holden said:

Mmmmm. I’m not sure about these guys. I’ve invested nearly £40k with them and over 18 months I am down over 8%.

That does seem like quite a poor outcome. Only those opting for the lowest risk levels would be expected to have a return that low over 18 months. Using Vanguard Lifestrategy as a comparison, here are the returns for 20% up to 100% equities:

20%: -8% (let's call this risk level 2/10)
40%: -5%
60%: 0%
80%: +5%
100%: +10% (let's call this risk level 10/10)

texas_holden said:

the other concern is that supposedly when you withdraw, they don’t pay out the investment value at that time. It takes 10 days and they pay you whatever value it has at the end of 10 days??? Sounds a bit scammy to me…

I think you should wait and see what the actual trade data shows. On the way in there is a long delay, but the fund order execution dates are several days earlier. There is normally T+2 settlement for fund orders, so it can certainly not be the value more than 7 days later and probably less than that.

wiseonesomeofthetime

My VLS 80 and VLS100 do not reflect those figures.

Albermarle

Mmmmm. I’m not sure about these guys. I’ve invested nearly £40k with them and over 18 months I am down over 8%

Do you mean the exact 18 months period from 7th January 2021 until today ? Or is is just approx 18 months +/- a couple of months ? 

The exact time period has to be used for comparison purposes. Even a couple of weeks can make a significant difference.

sadim

I invested in March to take advantage of the MSE deal of £50 cash back.  They state that I did not invest via the MSE link & I do not qualify for £50 cash back. As I had never heard of Wealthify I cannot see that I could have contacted them other than via MSE. Does your account show an entitlement to cash back? If not you may not get it.

masonic

wiseonesomeofthetime said:

My VLS 80 and VLS100 do not reflect those figures.

Did you invest a lump sum exactly 18 months ago and hold it without making any contributions or sales during the whole period? If not, then your returns will not match the fund's returns over the same period. My figures came from a Trustnet chart of the various flavours of VLS.

BenFoster22

Still waiting...

If it doesn't open soon, I'll withdraw and close the account after year. My passport came back quicker than this.

taylorrey

sadim said:

I invested in March to take advantage of the MSE deal of £50 cash back.  They state that I did not invest via the MSE link & I do not qualify for £50 cash back. As I had never heard of Wealthify I cannot see that I could have contacted them other than via MSE. Does your account show an entitlement to cash back? If not you may not get it.

When I signed up I thought I was getting £40 cash back and 0% fees for a year, I have contacted them and they said you had to pick one and there were 2 different links, I think this is utter rubbish to be honest. I didn't see 2 links. The link on Martin's website has now updated to the current wealthily offer so I can't go back and look at exactly what I signed up for. Must remember to screenshot next time.