Frequently Asked Question
DIWM platforms are often called ‘roboadvisers’ and sometimes ‘digital wealth managers’. But this can be misleading: the services they offer are much closer to a DIY platforms’ than a financial advisers’, as all they will do is ‘guide’ you into broad investment portfolios based on your risk profile rather than offer you anything near the personalised financial advice you would receive through a financial adviser.
DIWM platforms are much simpler to use than DIY platforms, usually involving a quick assessment of your financial goals and attitudes to risk, following which they will direct you into one of a few, very diversified portfolios that spread your investments across a wide range of assets and markets.
The investment portfolios offered at DIWM platforms are known as ‘fund of fund’ portfolios, usually investing in a number of index trackers. They are constructed to spread investments across a wide range of assets (such as shares or bonds), geographical marketplaces, and sectors and industries, depending on the risk profile of the portfolio.
Click through to the individual service review to view our analysis and break-down of the scores. We have an overall score for the platform, plus weighted scores based on we think are the five important aspects of their service: accounts available, scope of investment offering, account features, support services, and cost.
DIWM platforms have made it extremely quick and easy to open accounts, fund them and get investing.
