Bestinvest Review: A Comprehensive Guide to Investing

Bestinvest is a well-established online investment platform that offers a wide range of investment options. Founded in 1983, it has been helping individuals achieve their long-term financial goals for over three decades.

With over 70,000 clients and £11 billion in assets under management, Bestinvest has built a reputation for trust and reliability. Its extensive network of financial advisors and investment experts provides clients with personalized guidance and support.

Whether you're a seasoned investor or just starting out, Bestinvest offers a user-friendly online platform and a comprehensive range of investment products to suit your needs.

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Bestinvest was founded in 1986 by John Spiers. He had a vision to make investing more accessible to everyone.

The company quickly gained momentum by promoting the use of online fund supermarkets, making it easier for people to manage their investments.

In 2007, Bestinvest was acquired by management and 3i, a significant move that marked a new chapter in the company's history.

Bestinvest continued to grow and expand, acquiring HW Financial Services from Haines Watts in January 2010.

This acquisition brought a wealth of experience and expertise to the company, enabling Bestinvest to offer even more comprehensive services to its clients.

In 2013, Bestinvest received the backing of private equity firm Permira, a move that would have a profound impact on the company's future.

With Permira's support, Bestinvest was able to pursue ambitious plans, including the acquisition of Tilney from Deutsche Bank in 2014.

Bestinvest has a decent amount of tools and resources on offer for investors, including research and tools like "The Best Funds List" and "Spot the Dog", which helps you identify poorly performing funds.

You can also access some decent learning materials and tools, and if you have idle cash, Bestinvest pays a competitive interest rate.

One standout feature is the investment coaching that's available, which is free, but if you want more in-depth advice, you can pay for it - £295 for "Invest for your goals" or £495 for a "Portfolio health check".

Bestinvest is also great for beginners, with a low minimum investment of just £50 for most portfolios and funds.

Here are the different types of investment coaching available and their fees:

Bestinvest's general investment account is a standard account with no tax advantages, but it's a good option if you've already used up your ISA allowance for the year.

Bestinvest offers a range of investment options to suit different needs and risk profiles.

You can invest in individual stocks, bonds, and funds, or opt for a more hands-off approach with their ready-made portfolios. These portfolios are tailored to your risk profile and can be a good option for those who prefer a passive investment strategy.

With 15 ready-made portfolios available, split between "Smart" and "Expert" options, you can choose the one that best fits your goals. The Smart portfolios invest mainly in passive investments, such as ETFs that mirror the FTSE100 or other indices, while the Expert portfolios are actively managed by experts.

You can also invest in a general investment account, which doesn't have any tax advantages, but allows you to invest to your heart's content without any annual limits or restrictions.

Bestinvest offers a sustainable investing option through its 'Best Funds' list, which includes 11 sustainable/ethical funds. This is a great starting point for those looking to invest in a more responsible way.

You can also opt for a managed solution with Bestinvest's sustainable ready-made portfolio. This takes the guesswork out of sustainable investing and provides a hassle-free experience.

Bestinvest has some useful guides on sustainable investing and how to choose ethical funds, which can be a valuable resource for beginners.

Bestinvest offers 15 ready-made portfolios, split between "Smart" and "Expert" options. These portfolios are bundles of investments put together by experts, designed to help you achieve your investment goals with minimal effort.

You can choose from Smart portfolios, which invest mainly in passive investments like ETFs that mirror the FTSE100 or other indices. Or, you can opt for Expert portfolios, which invest in a range of funds and are actively managed by experts.

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One of the benefits of ready-made portfolios is that they're tailored to your risk profile, so you can choose a portfolio that suits your level of risk tolerance. For example, if you're a more cautious investor, you can opt for a portfolio with a lower risk profile.

The Smart portfolios are considered passive because experts don't have to make adjustments regularly, whereas Expert portfolios are actively managed by experts to ensure they keep up with your investment goals.

Here's a breakdown of the types of ready-made portfolios available:

Bestinvest's ready-made portfolios are designed to make investing easy and accessible, even for those who are new to investing. By choosing a ready-made portfolio, you can benefit from the expertise of experienced investors and avoid the need to research and select individual investments yourself.

Digital wealth managers like Bestinvest are now making it easier for their clients to invest in new and exciting opportunities.

Bestinvest has partnered with PrimaryBid to offer their clients access to IPOs and secondary offerings.

Founded in 1986, Bestinvest has been around for a while, but this new partnership is a significant development in their services.

With PrimaryBid, Bestinvest clients can now participate in IPOs, giving them a chance to invest in new and growing companies.

Bestinvest has a solid reputation with over 35 years of experience.

It's regulated by the Financial Conduct Authority (FCA) and is a member of the Financial Services Compensation Scheme (FSCS), which protects your deposits up to £85,000 in case something happens to Bestinvest.

Your investments are protected up to £85,000 per person, per platform, through the FSCS.

Note that you won't be compensated for investments falling in value or if a company in which you hold shares goes bust, unless it's due to bad advice from a regulated Independent Financial Advisor who has also gone bust.

As a public company, Evelyn Partners, Bestinvest adds an extra layer of transparency and peace of mind.

Bestinvest offers a wide range of account types and products to suit different investment needs.

You can invest using a general investment account (GIA), stocks and shares ISA, self-invested personal pension (SIPP), and junior accounts.

Bestinvest's account types have different advantages and disadvantages, and many of them are tax-efficient.

The platform offers flexible ISAs, which let you withdraw some of your money and pay it back into your ISA in the same tax year without impacting your ISA allowance.

This flexibility is a standout feature of Bestinvest's ISA, making it a great option for those who want to manage their investments with ease.

One thing to note is that Bestinvest doesn't offer a lifetime ISA (LISA), which is a type of ISA that's specifically designed for first-time homebuyers.

Here are some of the account types and products offered by Bestinvest:

Bestinvest's account types are designed to be flexible and tax-efficient, making it a great option for those who want to manage their investments with ease.

Bestinvest scored well in our ease of use assessment, with an excellent score of 9.6 and a user-friendly interface that's rated 4.7/5 on the App Store. This suggests that the platform is easy to navigate and use, even for those who are new to investing.

You can access Bestinvest's tools and resources from both desktop and mobile devices, making it easy to stay on top of your investments no matter where you are. The platform also offers multiple ways to contact customer service, including phone, email, in-app chat, and post.

The platform's user interface and user experience (UI/UX) are rated as good, which is a testament to the platform's design and functionality.

Ease of use is a crucial aspect of any investment platform, and Bestinvest scores well in this area. Bestinvest ease of use score is 9.6, which is Excellent.

You can access Bestinvest through both desktop and mobile apps, which is convenient for those who like to invest on the go. The mobile app has a 4.7/5 rating on the App Store, but a lower 3.4/5 rating on Google Play, likely due to fewer reviews.

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One of the standout features of Bestinvest is the variety of ways to contact customer service, including phone, email, in-app chat, and post. This is a big plus for those who value having multiple options for support.

Bestinvest's user interface and user experience are also noteworthy, with a Good rating in this area. However, some users have reported that the site can feel a bit messy and difficult to navigate, particularly for novice investors.

Here's a summary of Bestinvest's ease of use features:

Overall, Bestinvest's ease of use features are a major strength of the platform, making it easy and convenient to invest and access support when needed.

Bestinvest offers a great coaching service that's accessible whenever you need it. This is a major plus for investors who want expert guidance without the hefty price tag.

One of the standout features of Bestinvest is its free financial coaching, which is available to all users. This coaching service is particularly useful for those who are new to investing or want to get some expert advice on managing their investments.

Bestinvest has a wide range of ready-made portfolios to choose from, with 15 options available in total. These portfolios are tailored to different risk profiles and investment goals, making it easy to find one that suits your needs.

Here are some of the key features of Bestinvest's coaching service:

Overall, Bestinvest's coaching service is a major selling point for the platform. With its expert advisors and wide range of investment options, it's a great choice for investors who want to take their investments to the next level.

Bestinvest has received positive reviews from various sources. It's considered one of the most established investment platforms in the UK, founded in 1986 and now owned by Evelyn Partners with £52 billion under management.

The platform offers low-cost premade portfolios costing as little as 0.2% a year, fund investing, and discount UK share dealing. Bestinvest has combined low-cost online investing and share dealing with personalized expert advice to help clients choose the right investments for their portfolio.

Bestinvest has received praise for its low-cost ready-made portfolios and cheap dealing fees, with prices that score top marks. It also offers a huge range of UK and US shares, bonds, and funds to invest in.

Here are some ratings from various sources:

Some users have praised Bestinvest for its holistic approach to investing, focusing on their life plan and offering coaching to reach their goals. However, others have noted that the app can be a bit clunky and that searching for investments can be a pain unless you know exactly what you're looking for.

Bestinvest has received overwhelmingly positive reviews from its customers. They praise the platform's user-friendly interface, with many saying it's "simple to navigate" and "easy to use".

One customer was particularly impressed with the platform's free investment coaching, saying it was "genuinely lovely to have a chat without the constant feeling that you're being sold something". This coaching service is available to all customers, regardless of their investment level.

Many reviewers also appreciate the platform's flexible ISAs and pensions, which offer a range of investment options. One reviewer noted that Bestinvest's fees are "among the lowest on the market" and that there are no "nasty hidden charges".

Some customers have also praised the platform's customer support, with one reviewer saying they felt "listened to" and that their financial coach was "very knowledgeable and full of great advice".

Here are some key statistics from customer reviews:

Overall, customer reviews suggest that Bestinvest is a reliable and trustworthy platform that offers a range of investment options and excellent customer support.

Bestinvest's Spot the Dog report has revealed a worrying surge in assets locked up in underperforming investment funds, despite the total number of struggling funds holding steady.

The report makes for uncomfortable reading for SIPP investors and fund managers alike, highlighting the importance of careful fund selection.

Assets worth billions are locked up in these underperforming funds, leaving investors with a significant financial burden.

According to the report, the number of struggling funds remains steady, but the amount of assets invested in them is on the rise.

This trend suggests that investors need to be more vigilant in their fund choices to avoid falling into these underperforming funds.

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Bestinvest's annual charges are based on the amount you invest. If you have up to £250,000 in investments, you'll pay a 0.4 per cent service fee.

For investments between £250,000 and £1 million, the service fee drops to 0.2 per cent. This is a significant reduction in fees for larger portfolios.

Anything above £1 million in investments is free from service fees. This is a major benefit for high-net-worth individuals.

There's a £7.50 fee to trade shares and investment trusts online with Bestinvest. This fee applies to all online trades.

Online trading for unit trusts and open-ended investment company funds is free with Bestinvest. This is a convenient feature for investors who want to trade these types of funds without incurring extra costs.

Bestinvest is one of the most established investment platforms in the UK, with a history dating back to 1986. It's now owned by Evelyn Partners, a financial services firm with £52 billion under management.

Bestinvest offers low-cost premade portfolios, with prices starting as low as 0.2% a year. This is a game-changer for investors who want to keep costs low.

The platform has a huge range of UK and US shares, bonds, and funds to invest in. However, it's worth noting that they don't offer emerging markets, which might be a drawback for some investors.

The app is a recent addition, and while it's not perfect, it's a step in the right direction. The desktop platform could also use some improvement.

One of the standout features of Bestinvest is their excellent customer service. They offer personalized advice, which is a big plus for investors who want to make informed decisions.

Here are the key pros and cons of using Bestinvest:

Their pricing is top-notch, with low-cost ready-made portfolios and cheap dealing fees. Their customer service is also highly rated, with a 4.5-star review.