Evestor and Octopus Money

jeanniejelly

Hi,

I've had a Stocks & Shares ISA with Evestor since around 2019. I put a lump sum in initially and pay into it monthly.  The returns have been not great but neither have the markets so I wasn't worried as I wasn't planning on accessing the money for 10+ years at least.  They wrote to me last week to say "as (I) may have heard" (err, nope), they're transferring all their accounts to Octopus Money by the end of the year.

So, my question is, is it time to transfer to another provider and if so, which one? I know Octopus have been pretty successful as a energy provider but I'm not sure about their track record with financial services?

I'm not an an "investor" in so far as I've no interest in managing my own portfolio so am I best to let the transfer happen on the basis that most of the funds will be much of a muchness or go elsewhere while I have the motivation?

masonic

Octopus Investments has been around since 2000 and has been managing some of the largest Venture Capital Trusts amongst others, with about £13 billion assets under management, whereas Octopus Energy joined Octopus Group in late 2015 (formerly it was called Mercury Energy Supply and was pretty much unknown). So the group has a much longer track record with investing than energy supply.

wmb194

jeanniejelly said:

Hi,

I've had a Stocks & Shares ISA with Evestor since around 2019. I put a lump sum in initially and pay into it monthly.  The returns have been not great but neither have the markets so I wasn't worried as I wasn't planning on accessing the money for 10+ years at least.  They wrote to me last week to say "as (I) may have heard" (err, nope), they're transferring all their accounts to Octopus Money by the end of the year.

So, my question is, is it time to transfer to another provider and if so, which one? I know Octopus have been pretty successful as a energy provider but I'm not sure about their track record with financial services?

I'm not an an "investor" in so far as I've no interest in managing my own portfolio so am I best to let the transfer happen on the basis that most of the funds will be much of a muchness or go elsewhere while I have the motivation?

Octopus is well known in the VCT investment niche and it has a few funds covering other sectors so Octopus taking over wouldn't particularly bother me - according to the FAQ linked below it currently manages £12.8bn.

There are quite a few other robo-investors to choose from so I'd presume you could transfer to one of those and make some money doing so e.g., &me has a cashback offer via TopCashback.

https://octopusinvestments.com/

https://octopusmoney.com/evestor

jeanniejelly

This is all great advice  thanks. I'd never heard of Octopus other than in relation to gas/electric so it's reassuring to know they have some expertise in finance. Thanks