Wealthify questions

smeddum · 3 October 2022 at 3:46AM

A couple of years ago I was lucky enough to finally become debt free and get a house after a default on my credit file by an ex partner and being pretty bad with money during my early 20s. Now with good savings pot I decided to open a wealthify account just to put a small amount in every month that I was happy to lose.

Now a couple of years in I have lost 5% of my investment. Now I know the market is shocking right now and wouldn’t expect a return let alone a good return however is wealthify the best options. I do not have the time or inclination to manage my own account shares. Should I just tuck it in a savings account, move it to a tracker investment (which one?) or is just staying the course fine and I will eventually have that back.

I understand no one can see the market and would be happy (if a little annoyed) doing the right thing and getting a bad result however I don’t want to keep it in a product which isn’t going to work regardless. Thanks

El_Torro · 3 October 2022 at 6:18AM

I don’t use Wealthify myself. Looking at the website it seems fine for the service provided. Fees are a bit high, though that’s to be expected from a platform that tries to make investing as simple as possible.