Bestinvest UK platform review: what are the pros and cons?
We review and explore the features and offerings of Bestinvest's investment platform and pension in the UK to help you decide if it aligns with your financial goals.
Bestinvest is a UK-based investment platform that offers a range of services for investors, including ISAs, SIPPs, and general investment accounts.
This review explores the company's background, services, fees, technology, security, and customer service, providing insights into the advantages and disadvantages for UK investors.
Bestinvest was founded in 1986 and has their head office in London
They offer a range of investment products and services, including ISAs, SIPPs, and general investment accounts
Bestinvest charge £4.95 per trade for UK shares and ETFs, which is among the lowest in the market
Customer service experiences with Bestinvest are mixed but are generally positive overall
Bestinvest: who are they?
Founded in 1986 by John Spiers, Bestinvest is a British online investing platform that provides execution-only investment services predominantly to private investors.
It is part of Evelyn Partners, the UK's leading integrated wealth management and professional services group.
Bestinvest offers a range of investment products and services, including ISAs, SIPPs, and general investment accounts, as well as financial planning and investment advisory services.
:quality(20)){kind=logo}
Founded
1986
Assets under management (AUM)
£3 billion+
Fees
£4.95 for UK trades, 0.2% for ready-made portfolio funds (based on £0 - 250,000 invested)
What does Bestinvest do?
Bestinvest provides a platform for individuals to manage their investments online.
Users can invest in a variety of products, including funds, shares, ETFs, investment trusts, and ready-made portfolios.
The platform also offers free investment coaching and financial advice services, aiming to make investing accessible and straightforward for both novice and experienced investors.
What are the pros and cons of Bestinvest?
Considering Bestinvest as your financial provider?
Here are the main advantages and disadvantages to keep in mind:
The pros of Bestinvest:
Low trading fees: Bestinvest charges £4.95 per trade for UK shares and ETFs, which is among the lowest in the market.
Free US share trading: There is no online dealing fee for buying and selling US shares, making it cost-effective for investors interested in US markets.
No fund dealing charges: Buying and selling funds is free, which can be beneficial for fund investors.
Free investment coaching: Bestinvest offers free expert coaching to help investors make informed decisions.
Wide range of investment options: The platform provides access to a broad selection of investments, including ready-made portfolios, funds, shares, ETFs, and more.
Mobile app availability: Bestinvest has a mobile app available on both iOS and Android, allowing users to manage their investments on the go.
The cons of Bestinvest:
Service fees for holding shares: Bestinvest charges service fees for holding shares or ETFs, which can add up for investors with significant holdings.
Foreign exchange fees: While US share trading is free, there is a foreign exchange fee of 0.95%, which is standard but still an additional cost.
Customer service concerns: Some users have reported issues with customer service, including delays in processing transfers and communication problems.
What services does Bestinvest offer?
Bestinvest offers a variety of services to cater to different investor needs:
Investment accounts: Including Stocks & Shares ISAs, Junior ISAs, SIPPs, and general investment accounts.
Ready-made portfolios: Pre-constructed portfolios designed to match various risk profiles and investment goals.
Investment coaching and advice: Free coaching sessions and financial advice packages to help investors make informed decisions.
Educational resources: Guides, tools, and calculators to assist investors in understanding and managing their investments.
:quality(20))
"If you’re considering investing, it pays dividends to seek guidance from a qualified financial adviser.
They can help build an investment portfolio that aligns with your risk appetite and long-term goals, as well as review it regularly so you can boost your chances of generating the returns you want."
What fees does Bestinvest charge?
Bestinvest's fee structure includes:
Dealing fees: £4.95 per trade for UK shares and ETFs; free for US shares (excluding a 0.95% foreign exchange fee).
Fund dealing: No charges for buying and selling funds.
Service fees: Tiered annual service fees based on investment value, starting from 0.2% for ready-made portfolios and US shares, and up to 0.4% for other investments.
Additional charges: Including a £30 fee for telephone dealing and a £37.50 quarterly fee for paper statements.
Bestinvest pension review: is it right for your retirement savings?
Bestinvest offers a self-invested personal pension (SIPP) that gives investors flexibility, control, and access to professional support when planning for retirement.
Key strengths of a Bestinvest pension
Wide investment choice: Access to thousands of funds, shares, ETFs, and investment trusts, giving investors control over how their pension is invested.
Ready-made portfolios: For those who prefer a hands-off approach, Bestinvest offers curated portfolios managed by Evelyn Partners’ investment experts.
Low fees: Competitive service fees starting from 0.2% for ready-made portfolios and 0.4% for other investments, making it cost-effective compared to many traditional pension providers.
Free investment coaching: One of Bestinvest’s standout features, offering personalised guidance without additional cost.
Potential drawbacks of a Bestinvest pension
Foreign exchange fees: A 0.95% FX charge applies when investing in overseas assets.
DIY-focused platform: While free coaching is helpful, the platform primarily suits investors comfortable making their own decisions.
Bestinvest pension verdict
The Bestinvest SIPP is a flexible and competitively priced option for investors who want control over their pension investments while still having access to expert guidance.
Its combination of low fees, strong investment range, and free coaching makes it ideal for DIY investors or those consolidating existing pensions.
However, those nearing retirement who need drawdown flexibility or prefer a fully managed service may find other providers better suited to their needs.
What technology does Bestinvest use?
Bestinvest leverages modern technology to enhance user experience:
Mobile app: Available on iOS and Android, allowing users to manage investments, trade, and access coaching on the go.
Online platform: User-friendly interface for managing accounts, viewing performance, and accessing educational resources.
Digital tools: Features like the "Grow my money" simulator help users project investment growth based on different scenarios.
Bestinvest security: is it secure?
Bestinvest takes client security seriously:
Regulation: Authorised and regulated by the Financial Conduct Authority (FCA).
Information security team: Dedicated team ensuring personal information and online accounts are safe and secure.
Security measures: Includes guidance on protecting personal information and steps to take if fraud is suspected.
Does Bestinvest have good customer service?
Customer service experiences with Bestinvest are mixed.
Some users praise the platform for its helpful and friendly support, while others report issues such as delays in processing transfers and communication problems.
For instance, a case reported in The Times highlighted a significant delay in transferring a £450,000 ISA, leading to frustration and stress for the client.
However, other reviews on platforms like Good Money Guide indicate a generally positive customer experience, with a 4.3 out of 5 rating based on user feedback.
A recent 5 star review on Trustpilot said:
"I have been with BestInvest for over 20 years and have always found them to be polite and helpful in all my dealings. Long may it continue as I am sure it will."
Final verdict: is Bestinvest right for you?
Bestinvest is a solid choice for UK investors who want the flexibility of a DIY investing platform with the reassurance of expert guidance when needed.
Its combination of low dealing fees, free fund trading, and access to free investment coaching makes it particularly appealing to those who prefer managing their own portfolios but still value occasional professional input.
The platform’s ready-made portfolios also provide an accessible entry point for beginners or those who don’t want to choose individual funds, while more experienced investors will appreciate the wide selection of investments available.
However, Bestinvest may not be the best fit for everyone. Investors with large share or ETF holdings should be aware of the service fees, and those seeking a fully managed or hands-off investment experience may find other providers, like Evelyn Partners or Rathbones, more suitable.
Overall, Bestinvest strikes a strong balance between affordability, choice, and support.
It’s best suited to confident, self-directed investors who want control over their investments, but with expert help available when they need it.
What are the best alternatives to Bestinvest?
When searching for alternatives to Bestinvest, UK investors will find many platforms that cater to different needs.
To identify the best options, we’ve considered factors like fee structure, investment selection, account types, user experience, and additional features.
Here’s a breakdown of the alternatives:
| Company | Founded | Headquarters (UK) | Assets under management (global) |
|---|---|---|---|
| Hargreaves Lansdown | 1981 | Bristol | £172 billion |
| AJ Bell | 1995 | Manchester | £4.7 billion |
| Interactive Investor | 1995 | Manchester | £85 billion |
| Vanguard | 1975 | London | £7.5 trillion |
| Fidelity | 1969 | London | £663.1 billion |
Get expert financial advice
Navigating the investment landscape can be complex, and making informed decisions is crucial for financial success.
Bestinvest offers free investment coaching and financial advice packages to help investors understand their options and make choices aligned with their goals.
Whether you're new to investing or looking to optimise your portfolio, consulting an expert financial adviser can provide clarity and confidence in your financial journey.
In conclusion, Bestinvest offers a comprehensive platform with competitive fees, a wide range of investment options, and valuable support services.
While there are some areas for improvement, particularly in customer service, the platform remains a strong choice for UK investors seeking a blend of DIY investing and professional guidance.
:quality(20))