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Featured - Account Types
What type of savings account do you need?Find out about the different types of savings accounts available to suit a variety of needs.
Savings
ISAs
Residential
Buy to let
Specialist mortgages
Featured - Debt and your credit score
How debt impacts your credit scoreA healthy credit score has its benefits, so make sure you manage your debt correctly.
Loans
Featured - Life Insurance
Life InsuranceFor peace of mind that your loved ones will be supported financially after you die, consider taking our life insurance. Find out more and compare policies.
Home & vehicle
Health & travel
Featured - High interest current accounts
Find current accounts offering in-credit interest rates up to 5.00% AER.
Current accounts
Featured - Purchase Cards
Best purchase credit cardsExplore the best cards with a 0% introductory period.
Credit cards
Credit repair
Calculators & guides
Business savings
Business products
Business insurance
How much can I give as a cash gift?
How much can I give as a cash gift?Will your loved one's gift be tax affected?
Categories
Featured guides
Popular news
Latest news - by category
Other money & finance news
Featured Star Ratings categories
Other Star Ratings categories
Robo-advice is an investment service that uses technology instead of human experience to make decisions about the best investments to make. Robo advice services ask you a dozen or so questions to understand your risk appetite and investment requirements and then uses this to make investments on your behalf. The robo-advisor then manages these investments on your behalf.
The robo-advisor asks you several questions and uses the answers to these to then select a series of investment funds. These usually look at your risk attitude, life stage, investment purpose (income or growth for example) and how long you intend to invest for. The answers to the questions dictate the selections the robo-advisor will make. Those that are happier to accept greater risk in return for potentially greater return will see their funds invested in more aggressive funds. Those looking to invest for longer periods of time could also tolerate more aggressive funds to ride out any peaks and troughs in performance. Those approaching retirement may have their money in a greater proportion of cash based or lower risk assets to help ensure the money is available.
Robo-advice is not independent financial advice, and it is not tailored specifically to you. This is unlike speaking to an independent financial adviser who will personalise their advice specifically to you and consider the big picture.
Robo-advisers may also be tied to a specific set of investment funds with a choice of a handful, while the larger robo-advisers may have more, an independent financial adviser offers access to the whole market.
Whether you choose to use a robo-adviser or speak to an independent financial adviser both will need to make sure they complete a suitability assessment for you. This sets out that the recommendation or decision to trade is suitable for you. If this turns out to have been incorrect or bad advice, then you can complain and may even be able to claim compensation.
Did you know you can invest up to £20,000 a year in a stocks and shares ISA? Learn more about the tax benefits of investment ISAs and find a provider today.
Firms offering robo-advice must be regulated by the Financial Conduct Authority (FCA).
Robo-advice services are easy to use and because the funds are selected for you, you do not need to be a financial expert to invest. They are also a low-cost way to start investing usually charging 1% or less of your fund value, whereas an adviser often costs hundreds or thousands of pounds. However, it is important that you still understand the risks to your money and monitor the performance of your robo-adviser.
An investment platform or fund supermarket offers a similar service as a robo-advisor, but you will have to select your own investment funds. It is important you understand the risks of losing your money and will need to carefully check the performance of your selected funds.
Read more about investment performance in our investment news.
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Disclaimer: This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.
In this guide we’ve explained what unit trusts are and how they’re managed, and highlighted some of the best performing funds on the market.
In this guide we’ve explained what unit trusts are and how they’re managed, and highlighted some of the best performing funds on the market.
A REIT is a property investment firm that in the UK is listed on a stock exchange. The purpose of a REIT is to generate a profit from its property portfolios and generate a return for its shareholders or investors.
A REIT is a property investment firm that in the UK is listed on a stock exchange. Find out more about how they generate money for their investors in our guide.
If you already have a mortgage on your property but wish to convert it to buy-to-let, it's important to speak to your mortgage lender. Read on to find out more.
If you already have a mortgage on your property but wish to convert it to buy-to-let, it's important to speak to your mortgage lender. Read on to find out more.
In this guide we’ve explained what unit trusts are and how they’re managed, and highlighted some of the best performing funds on the market.
In this guide we’ve explained what unit trusts are and how they’re managed, and highlighted some of the best performing funds on the market.
A REIT is a property investment firm that in the UK is listed on a stock exchange. The purpose of a REIT is to generate a profit from its property portfolios and generate a return for its shareholders or investors.
A REIT is a property investment firm that in the UK is listed on a stock exchange. Find out more about how they generate money for their investors in our guide.
If you already have a mortgage on your property but wish to convert it to buy-to-let, it's important to speak to your mortgage lender. Read on to find out more.
If you already have a mortgage on your property but wish to convert it to buy-to-let, it's important to speak to your mortgage lender. Read on to find out more.
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Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.