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Matthew Ainsworth

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Review of the Quilter Invest (formerly NuWealth), Investment app:

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If it gets people to invest

I am an experienced investor and I joined wombat with a small sum just for the £20 bonus, their balanced fund is the most logical one for what people probably should have anyway and it's fees are good - the platform itself has reasonable (but beatable) fees - the important thing is though that wombat might excite people into investing who otherwise wouldn't have done with their niche funds, so at least they get started, and provides some education. I do think there ought to be more steering towards indexing, but even if there isn't people would probably outdo cash as long as they're not just leaving such a tiny sum in there that the £1 a month minimum fee eats it. Reviewed on: 24th March 2022

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