Bestinvest unveils free mobile app as it enhances its service for 2023

As the end of the financial year draws nearer and investors look to top up their ISAs and pensions to maximise their tax-free allowances, Bestinvest has unveiled a new mobile app to help its customers manage their investments on the go.

Customers downloading the online investment and financial coaching platform’s new app – available on the Apple App Store for iOS and the Google Play Store for Android – can tap into almost all the features now synonymous with the award-winning brand’s revamped website: low-fee investing, free financial coaching, affordable advice packages, sophisticated digital goal planning tools and low-cost Ready-made Portfolios.

Customers using the app can log in quickly and securely using FaceID or TouchID, open or transfer in an account – such as an ISA, Junior ISA, Self-Invested Personal Pension (SIPP) or Investment Account – check how their investments are performing and buy and sell over 3.000 funds, exchange-traded funds (ETFs), investment trusts, shares and Ready-made Portfolios.

They can also add cash to their account or set up regular contributions such as monthly payments, book a free investment coaching session with one of Bestinvest’s qualified financial planners and set an investment goal, such as retirement, and track their progress towards it using the brand’s smart planning tools.

For those with multiple accounts, the app groups the accounts in one place to help clients monitor the value and performance of their holdings while users can also link their account with family and friends to help manage and plan financial futures together.

Staying on top of the latest investment insights, trends and news is also easy to access through the app, with users able to tap into guides and articles that help DIY investors learn everything they need to power their investment decisions.

Bestinvest’s new mobile app is another milestone in the brand’s development programme, coming just a year after the investment platform first unveiled plans to transform its offering and within nine months of the revamped product launching in May last year.

Jason Hollands, Managing Director of Bestinvest said: “The new Bestinvest app is another important enhancement for Bestinvest following the relaunch of the service last year with a plethora of new features including the ability to have virtual meetings (at no cost) with investment coaches (all of whom are qualified financial planners), the option of purchasing bite sized advice packages, a new portfolio projection chart and goal planning tools, as well the launch of five new low-cost Ready-Made Portfolios and lower fees for share dealing.

“The new app is free to download and is packed full of features to help self-directed investors manage their portfolios effectively. The app launch is also timely as it will help investors stay on top of their portfolios in the run-up to the end of the tax year when many are considering new investment options to boost their portfolios and to top up ISAs and SIPPs in order to maximise their tax allowances.”

DIY investors considering downloading the Bestinvest app and opening an account to take advantage of the platform’s revamped offering will benefit from:

• Lower fees: Bestinvest has one of the lowest share dealing fees of all the major investment platforms at £4.95 a trade, as well as free fund trading and competitive account service fees that start at just 0.2% pa for Ready-made Portfolios.
• A wide choice of investments: DIY investors can choose their own investments from more than 3,000 funds, shares, investment trusts, Exchange Traded Funds (ETFs) and higher risk investments such as Venture Capital Trust (VCT) new issues.
• Free investment coaching: Our coaching sessions with a qualified financial planner, held virtually, can help customers set clear financial goals and invest towards them with sessions easily bookable through the website or app. Sessions are available to anyone – you don’t need to have a Bestinvest account to book one.
• Affordable investment advice packages: Our bite-sized advice packages include an ‘Investing for Your Goals’ session for £295 with a financial planner to set goals and establish how much risk to take or a ‘Portfolio Health Check’ for £495 with an investment professional that analyses your portfolio and offers tailored advice on what actions to take, both seasoned and novice DIY investors can benefit from a fresh pair of eyes on their holdings.
• New low-cost Ready-made Portfolios: Managed by investment experts at Bestinvest’s parent company Evelyn Partners, our five low-cost Smart portfolios launched in 2022  invest through passive funds and ETFs, catering to different risk profiles with ongoing costs starting at just 0.32%. Customers can also select one of our 10 Expert portfolios, which includes Sustainable options, which invest in best-in-class active managers, or one of our four new Multi-Asset funds, which comprise direct equities, direct bonds and collective investment funds.
• A suite of new digital tools: Our goal-setting tools include portfolio projection and simulation tools that help customers design a life plan. This involves setting a goal, such as ‘Retirement’ or ‘Grow my Money’, measuring progress towards that goal and identifying actions to achieve it faster, such as setting up monthly investments, adding a lump sum or taking on more or less risk. Separately, our clients can view a breakdown of their holdings by asset class, geography and equity capitalisation, track the performance of their investments over time and complete an online risk assessment to identify their risk profile.
• Extensive research, guides and news: Bestinvest offers fund and share factsheets, guides and articles, as well as webinars to help DIY investors power their investment decisions.  We also have the bi-annual Spot the Dog report, which helps DIY investors identify the funds that have consistently and significantly underperformed, and the Best™ Funds List, also published twice a year, which narrows down what we believe are the best investments to consider based on the selections of Evelyn Partner’s 300-strong investment management team.

This month Bestinvest also unveiled a new cashback offer*,  rewarding new and existing customers with up to £1,000 in cashback when they transfer an account in full to Bestinvest – such as an old workplace pension or personal pension, investment account, ISA or Junior ISA – and then invest the money by March 15.

* The cashback offer, applicable to transfers to a Bestinvest account between January 10 and March 15 (subject to Terms & Conditions), rewards customers transferring an account in full from another provider with the following cashback amounts:

• £100 for £1,000+ account transfer
• £300 for £20,000+ account transfer
• £600 for £50,000+ account transfer
• £1,000 for £100,000+ account transfer

This briefing does not constitute advice nor a recommendation relating to the acquisition or disposal of investments. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication.

Investment does involve risk. The value of investments and the income from them can go down as well as up. The investor may not receive back, in total, the original amount invested. Past performance is not a guide to future performance. Rates of tax are those prevailing at the time and are subject to change without notice.

Clients should always seek appropriate advice from their financial adviser before committing funds for investment. Before you consider transferring a pension, it is important to ask yourself: Will I lose any valuable benefits or features from my existing pension plan? Will I incur any penalties on my existing pension if I transfer? Is it an occupational final salary pension scheme? (in which case it is very unlikely to be advisable to transfer) Have I considered the charges on my current plan? (a new arrangement may be more expensive – especially if you have a stakeholder pension). Exit fees may apply if you choose to leave Bestinvest.