HOLLY’S TIPS TO PICK A WINNER

IF YOU are interested in joining the 400,000 people who opened a robo- account last year, here are my top tips:

ON THE basis of a medium-risk portfolio return over both a 12-month and three-year period, Vanguard, Nutmeg and AJ Bell Youinvest have performed consistently well.

IF YOU want to compare like with like, have a look at how much each of these robo-funds holds in shares. Forget the marketing department’s adjectives. Roughly speaking, 40 per cent in shares is low risk; 60 per cent is medium risk and 80 per cent or more is high risk.

YOUR time-frame should impact your choice of robo-fund. If it is a ten-year investment you are looking to make, don’t be afraid of high risk. If it’s five years, I wouldn’t ever go higher than medium risk.

ACCORDING to readers of Boringmoney.co.uk, customers are most likely to recommend Wealthsimple, Wealthify and Vanguard.

THE fast-growing Moneybox is another popular robo-choice. It rounds up payments made on card purchases and invests the amount rounded up – little bits at a time.

IF YOU want a robo-portfolio that is eco-friendly, consider Nutmeg, Wealthify or check out newcomer The Big Exchange.