Want to know how to invest your money? Read MNers feedback on the Netwealth service

[EllieMumsnet]

This is the feedback thread for the Mumsnet users who tested out the Netwealth service by either attending a session at Netwealth’s offices or by attending a Webinar from home. The service test was open and of interest to the following users:

• individuals with ISA and pension holdings
• individuals with current or future financial commitments such as school fees or care home fees
• individuals who want to make sure they have a plan in place for generating retirement income
• widows or divorcees with potentially significant capital sums who would like guidance on their finances
• individuals who have recently sold a company or inherited wealth

Here’s some more information on Netwealth and what they have to say: “Netwealth is a modern wealth manager, combining long term expertise with cutting edge technology. This leads to much lower costs as well as exceptional transparency and flexibility when it comes to savings and investments. The service provides a deeply experienced investment team, who manage investments on clients’ behalf and qualified advisers for those times when advice is needed. The modern technology creates a client experience which is both user-friendly and accessible, including the ability to set up investment goals to line up with individual savings needs, as well as giving insight into daily portfolio performance. All of this is provided at a cost which is typically a half or even a third that of traditional wealth managers. Netwealth aims to make investments a family affair by allowing investors to invite their spouse, children, siblings and friends to their Netwealth Network – with each individual retaining their own portfolio.Fees are then calculated based on the whole Network, helping reduce costs even further.”

Testers please answer the questions below:
- Did you attend the Netwealth office or the Netwealth Webinar?
- Overall how did you find the Netwealth online experience?
- What do you like most about the website and the process?
- What do you feel could be improved?
- In your opinion, who is the Netwealth service aimed at/most suitable for?
- Would you recommend Netwealth as a wealth manager to a friend or family member, and why?

Selected testers will be required to leave feedback on a thread and also fill in a short survey, all testers who do so will be entered into a prize draw where 3 MNers will win a £100 voucher each of their choice (from a list).

Thanks and good luck with the prize draw
MNHQ

Standard Insight T&Cs Apply

[starlight36]

1. I attended the Netwealth office
2. The online experience was very good. The website was easy to register for and intuitive to use. Worked well both in the offices and at home.
3. I liked the ability to easily change information on the website to be able to get different investment outcomes e.g. the ability to alter my risk profile or the amounts I wanted to invest. The process was straight-forward if you already had the information you needed to hand: i.e. the amount already invested in pensions that you wanted to transfer or the amount you wanted to invest in your ISA
4. The website and process is well-designed for the target market
5. I believe that the service is aimed at investors who already have a good sense of the investment market and their target aim for their investments and want to find a way to manage this as cost-effectively as possible. Clients who do not require the full hand-holding and high cost of a traditional wealth manager.
6. I would recommend Netwealth to friends and family members who already have investments or have a decent idea of how they intend to manage their investments and are looking at finding a more cost-effective way of doing this.

[Pandrea1]

Did you attend the Netwealth office or the Netwealth Webinar?
Attended at their office.

• Overall how did you find the Netwealth online experience?

Very intuitive and easy to vary options. Lots and information and very transparent.

• What do you like most about the website and the process?

The website was easy to use and provided loads of information especially about various plan outcomes.

• What do you feel could be improved?

Perhaps a podcast at the start and a list of things to consider when investing.

• In your opinion, who is the Netwealth service aimed at/most suitable for?

Everyone from new investor to experienced investor.

• Would you recommend Netwealth as a wealth manager to a friend or family member, and why?

The initial talk on investing generally was brilliant and something I think everyone should hear. The tool is good. I would like to see more of their overall service to fully recommend them.

[anxiouswaiting]

• Did you attend the Netwealth office or the Netwealth Webinar?

Webinar

• Overall how did you find the Netwealth online experience?

It was good, I tried the tool before the webinar and it felt quite easy to navigate, I then tried it again after the webinar and it did make a lot more sense to me as the first time around I didn't quite understand all of it.

• What do you like most about the website and the process?

It is a nice simple tool and I like how you have the option of making changes to see the predictions

• What do you feel could be improved?

I would have liked it to be a bit quicker. I found that it took a while to load when I made changes sometimes. I also think it would be good to have a comparison option as I tried a few different scenarios but I had to write down to compare, if the tool could do that automatically I would have found that really useful.

• In your opinion, who is the Netwealth service aimed at/most suitable for?

People with a large amount of dispossable income or a sizeable sum of money which they don't mind investing in the long term. I felt that to get real gains you needed to be able to hand over a large chunk for a long time.

• Would you recommend Netwealth as a wealth manager to a friend or family member, and why?

No because I have not used the service myself, I don't think by doing a trial I could recommend it because I haven't seen any results for it. I would probably tell people about it and that I had tried the tool though .

[Trundle13]

• Did you attend the Netwealth office or the Netwealth Webinar?

Webinar

• Overall how did you find the Netwealth online experience?

Interesting, positive, made me think more about investing in these kinds of products rather than the cash investments I generally use. Webinar very interesting, clear and helpful.

• What do you like most about the website and the process?

Fairly user-friendly, simple layout, can choose level of detail want to see

• What do you feel could be improved?

Website glitches on mobile (eg tricky to find menu icon - hidden at top right-hand corner)

• In your opinion, who is the Netwealth service aimed at/most suitable for?

High net worth individuals

• Would you recommend Netwealth as a wealth manager to a friend or family member, and why?

Unsure - no experience of other wealth management companies or individuals, so not confident recommending Netwealth over any other service.

[burwellmum]

• Did you attend the Netwealth office or the Netwealth Webinar?

Webinar

• Overall how did you find the Netwealth online experience?

It was simple and easy to use.

• What do you like most about the website and the process?

The simplicity and ease of use. Thought it was very clear to use.

• What do you feel could be improved?

I saw no investment minimum and only discovered it existed when I chose too low a figure for my initial investment - even then it did not tell me the minimum figure just that what I had entered was too low.

• In your opinion, who is the Netwealth service aimed at/most suitable for?

People who are confident and happy to invest their own money.

• Would you recommend Netwealth as a wealth manager to a friend or family member, and why?

I don't feel I have enough experience of it to judge. I would have to have experience of using it for some time before I would recommend it.

[Fillybuster]

Thanks for including me in the trial.

Did you attend the Netwealth office or the Netwealth Webinar?
Webinar, which I thought was really good, but perhaps you could offer a choice between a short and a longer version, for those with more/less confidence?

• Overall how did you find the Netwealth online experience?
  

Mostly it’s pretty good, and it made more sense after the webinar.

• What do you like most about the website and the process?
  

I really like the idea of being able to flex different parameters to see what might happen.

Very clear & reasonable pricing, which is great, and I think one of the reasons people don’t want to use private financial advisors!

• What do you feel could be improved?
  

The navigation felt a bit unclear and I would have liked more information about minimum / maximum investments on the screen along with the tools. Felt a bit frustrating to go through the process and realise I hadn’t put in enough at one point!

There’s occasionally a bit of latency loading some of the tools, and I found it quite hard to use some of the tools from my phone although they were find when I accessed via desktop.

• In your opinion, who is the Netwealth service aimed at/most suitable for?
  

I think this could appeal to anyone who has a higher net income than their outgoings, or a reasonable amount of savings, and isn’t too sure of what to do with their money after they’ve bought an ISA, but isn’t confident of going it alone. That said, I think you need quite a high level of knowledge and confidence to use an online investment platform, so there’s perhaps a bit of a gap between who could use it and who would use it.

• Would you recommend Netwealth as a wealth manager to a friend or family member, and why?
  

I would happily mention it as an interesting option (& already have!) but I couldn’t recommend it without using it properly, as a real customer. over a period of time. The design and tools are good, but, for example, I’d want to have some experience of the Netwealth customer service team (how easy are they to reach, how responsive are they in the event of an issue, etc).

[Mewalker]

Hello,
I’m wondering if anyone can recommend a piano teacher in Kingston Upon Thames? I have 3 little girls who are keen for lessons!
Thanks.

[Moo0101]

Hi, is anyone in the same boat? I’m cycle day 45, 9 days late, 3 negative test results, could I still be pregnant? What’s going on?!

[leasedaudi]

Hi @EllieMumsnet has the prize draw occurred yet? Thank you...

Some random posts on here above! 😂

[EllieMumsnet]

Hi everyone

Sorry i'm a bit late with this ! The winners are: Trundle13, postitnotes & Byrdie