In March 2016, I invested £1,000 with Moneyfarm so that I could trial the service. I did this because I wanted to see if it was a good option for people who don’t want to choose their own shares.
Opening the account was simple and the platform is easy to navigate. Furthermore, it is very intuitive and extremely visually pleasing. The simple set-up process chooses s a portfolio for you based on your risk appetite. You don’t need a vast amount of financial knowledge.
Below you will see 4 screenshots, the first shows how my investment has been split on the platform, you can drill down into more detail. The second shows the high, it was 11.42% up on 15th August (approx 3 months in). The third shows the position just before the EU Referendum and the final one shows where I am today after 6 months, 9.13% up!
So far I’m very impressed with Moneyfarm. It is important to note that the EU Referendum was a unique event that had a major impact on this trial, as you can see from the screenshots. I would not expect this level of growth to continue but they clearly managed the risk well. I will post another update at 12 months.