Sign Up Offers Wealthify - £50 cashback for depositing £500 for 3 months+

Mattam

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Hope it's okay posting this opportunity as it seemed pretty good to me for new Wealthify customers signing up and depositing £500 for at least 3 months we'll both receive £50 cash back if you use my referral link.


To explain a bit more about Wealthify they are a UK based independent robo-advisor (regulated by the Financial Conduct Authority (FCA)) similar to other robo-advisers such as Wealthsimple, Nutmeg and Moneyfarm. I read about them on another well known Consumer Financial Advice site and signed up earlier this month and there are plenty of reviews online for anyone wanting to know a bit more about their credentials.

I hope it helps somebody make some cash.

T&C's of the offer:

Your friend must invest at least £500 in their Wealthify Plan using your unique referral code. The £500 will need to be invested in funds and left invested for three consecutive months. They can do this by either:

• Funding their Plan with a one-off payment of £500; or
• Funding their Plan with instalments.

If your friend doesn't invest £500 as a one-off payment, cashback will be paid once their balance reaches and remains over £500 for three consecutive months. They'll be able to top-up and withdraw from their Plan, as long as their balance remains above £500.
 
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InItForTheMoney

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I'm envious of this relatively quick turn around to get a 10% return! I signed up via a prior offer and had to lock up £400 across 6 months to get a £40 referral.

What I'd add to Mattam's post above is that you don;t have to sign up for an ISA, you can still qualify via a General Investment Account. When signing up you have to do a fairly standard risk questionnaire. If you're solely interested in the cashback then just go for most risk averse options to minimise the downside risk.

My link if anyone would like it: https://invest.wealthify.com/refer/86431112
 

InItForTheMoney

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Tacking this on here, as I've just found out about Wealthify circles, which can knock some money off the fees.
Give me a shout if you want a link to the circle I'm currently in (10% off fees).
 
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Mattam

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Give me a shout if you want a link to the circle I'm currently in (10% off fees).
Great shout as I'm not in any circle currently. Definitely interested as long as it doesn't affect my 'refer a friend' bonuses (which I don't think it does).

Cheers @InItForTheMoney!
 
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mrcbo

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Yes can defintely recommend wealtify atm almost close to 3% return, compared to 1.5 % marcus. My code is in my signature if you haven't tried it yet.wealthify.jpg
 
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Maifax

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I've just signed my 12 year old up to the Wealthify junior Isa plan.

If anyone fancies starting him off with a bonus please use his referall link https://invest.wealthify.com/refer/71367427

edit - bonus is only £25 for £500 invested for 3 months now. not as good as original offer - but still free cash
 

mrcbo

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think its even better now as you are investing in a bare market so in theory 25% + maybe. :p
A bit bumpy atm if you arent used to stock markets
 

SimonThomas

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Which would you recommend out of Nutmeg and Wealthify?
 

InItForTheMoney

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It probably depends on whether you want a General (taxable) Investment Account or an ISA, as I think the fees, which are a key consideration, differ for both. Both platforms seems

Personally I really only went for Wealthify as the cashback provided a buffer against the market declining, which worked for me, but YMMV.
 

InItForTheMoney

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Main difference between Vanguard and Wealthify/Nutmeg is that the latter use Actively managed funds to try to beat the market. Vanguard think that it's impossible to (cost effectively) beat the market long term*, so just aim to match the market's returns (aka Passive management).

If you're happy with passive funds and the lower fees they bring, plus don't mind being restricted to Vanguard's own ETFs then it's hard to go wrong.

There are other similar platforms out there that can work out as being slightly cheaper (i.e. Interactive Investor) in certain circumstances, e.g. if you have a particularly big pot of £. Monevator can probably help there.

You can still vary your risk tolerance through using one of their 'Lifestyle Strategy' funds which increases your exposure to stocks/shares.

Disclosure: My S+S ISA is with Vanguard.
*Including the Warren Buffett/Charlie Munger caveat
 

mrcbo

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There was someone online comparing this way of investing (robo investing) to passive investing which Vanguard is. You ETFs that are passive following fixed stocks or trades and active ETfs where someone is choosing what it invests. I believe Wealthify was shown to be doing quite well (consideirng a lot went -4348394 after the crash). Best to spread your approach
 

ChelseaGirl

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It's always wise to diversify your risk - if only to avoid any technical problems stopping you getting at your money if you really need it.
 

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