The process of investing money can be difficult and time-consuming. The advent of investment wrap platforms, however, has made it much simpler to keep track of your holdings.
You may expedite your investment process and get closer to your financial goals with the help of the features offered by these platforms.
In this article, we will conduct a thorough review of the Willis Owen investment platform. Willis Owen is an established DIY investment platform in the market, offering a wide range of investment options, tools, and insights.
We will delve into various aspects of the platform, including its ease of use, mobile accessibility, fees, investment products, and customer service. By the end of this review, you will have a clear understanding of whether Willis Owen is the right investment platform for you.
If you want to invest as an expat or high-net-worth individual, you can email me (advice@adamfayed.com) or use these contact options.
Table of Contents
What is Willis Owen?
Established in 1982, Willis Owen has grown to become one of the leading execution-only investment service providers in the United Kingdom. Since then, the organization boasts hundreds of millions of pounds invested on behalf of more than 150,000 clients.
CSR-A, a major UK-based organization, delivers the benchmark for social responsibility and tests all firms against four pillars of social responsibility: environmental, community, workplace, and philanthropic.
Willis Owen has been awarded Silver CSR accreditation by CSR-A. The company claims that its dedication to incorporating environmental, ethical, human rights, and consumer issues into our daily operations has been the primary reason for the recognition.
What are the pros and cons?
Ease of Use and Mobile Accessibility
One of the key factors to consider when choosing an investment platform is its ease of use. Willis Owen excels in this aspect, as its website is “chunked” into easily digestible content.
The platform is well-thought-out and provides a seamless user experience. It offers basic tools, clear fee explanations, and helpful articles, making it particularly suitable for beginners.
However, according to customer reviews, when it comes to mobile accessibility, Willis Owen falls slightly short. Although there is no dedicated mobile app, the logged-in pages are mobile-optimized.
The overall experience on mobile is not the slickest, and it can be challenging to navigate through the different pages. Long-standing customers may find it acceptable, but there is room for improvement in terms of mobile usability.
Fees and Account Administration
Willis Owen operates on a smaller scale compared to larger brands, resulting in a more personalized and human touch.
While this can be an advantage, it also means that when issues arise, the resolution process may be slower.
Some customers have experienced delays and frustrations with account set-up and anti-money laundering requirements. It is worth noting that these could be isolated incidents, and further investigation is required to determine if they reflect a broader issue.
The platform recently underwent a site update, improving the overall user experience. Customers can now trade and view their portfolios with minimum hassle.
When it comes to fees, Willis Owen offers a tiered structure based on the value of the account. For GIA, ISA, and JISA accounts up to £50,000, the platform charges 0.40%. As the account value increases, the fees decrease, with the lowest tier being 0.15% for accounts over £250,000.
Investment Products and Wrappers
Willis Owen provides a wide range of investment products to cater to different investor preferences.
The platform offers general investments, ISAs, lifetime ISAs, pensions, junior pensions, and other investment options. Within these wrappers, investors have access to various investment vehicles, including UK funds, offshore funds, ETFs, investment trusts, equities, and bonds.
This diverse selection allows investors to create a well-rounded and diversified portfolio.
Research and Content
One of the standout features of Willis Owen is its commitment to providing comprehensive research and jargon-free content.
The platform offers valuable insights and tools to assist investors in making informed decisions. Its research and guidance section is particularly useful for those looking to educate themselves about different funds and investment strategies.
Willis Owen’s dedication to plain English makes the platform welcoming and inclusive to all investors, regardless of their level of expertise.
Customer Reviews and Testimonials
Real users’ experiences provide invaluable insights into the pros and cons of using Willis Owen.
Overall, the platform receives positive reviews, with customers praising its user-friendly interface, helpful recommendations, and excellent customer service. Willis Owen’s commitment to clear communication and personalized support sets it apart from other platforms.
Should you invest with Willis Owen?
Willis Owen is a well-established investment platform that offers a wide range of investment options, tools, and insights.
Its user-friendly interface and jargon-free content make it accessible to investors of all levels of experience.
While there is room for improvement in terms of mobile accessibility and account administration, the platform’s commitment to personalized customer service and comprehensive research sets it apart.
Before making a decision, we recommend further research and consideration of your specific investment goals and preferences.
Remember to always conduct thorough research and consult with a financial advisor before making any investment decisions.
Should you use an investment wrap platform like Willis Owen?
One of the key advantages of using an investment wrap platform is the ability to consolidate your investments in one place.
Instead of having multiple accounts with different providers, an investment wrap platform allows you to bring all your investments together, providing you with a clear and comprehensive overview of your portfolio.
This not only saves you time but also makes it easier to monitor and track your investments.
Another benefit of using an investment wrap platform is the access to a wide range of investment options.
These platforms typically offer a diverse selection of investment products, including stocks, bonds, mutual funds, and exchange-traded funds (ETFs).
This means that you can tailor your investment strategy to your specific goals and risk tolerance, ensuring that your portfolio is well-diversified and aligned with your financial objectives.
In addition to investment options, investment wrap platforms also provide you with access to comprehensive research and analysis tools.
These tools can help you make informed investment decisions by providing you with real-time market data, news updates, and performance metrics.
With this information at your fingertips, you can stay ahead of market trends and adjust your investment strategy accordingly, maximizing your chances of achieving positive returns.
Overall, using an investment wrap platform offers numerous benefits, including consolidation of investments, access to a wide range of investment options, and comprehensive research tools.
These platforms provide a convenient and efficient way to manage your investments, helping you make smarter investment decisions and ultimately achieve your financial goals.
What features should you look for when choosing an investment wrap platform?
When selecting an investment wrap platform, it’s important to consider a range of key features that will impact your investment experience.
These features can vary significantly between platforms, so it’s crucial to assess your own investment needs and preferences before making a decision. Here are some key features to consider:
Fees and charges
When looking for an investment wrap platform, one of the most crucial considerations should be the fees and costs involved with using the platform. Investment management fees, transaction fees, and administrative costs are all examples.
The platform’s cost structure should be familiar and suitable to your financial situation and investing objectives.
Investment options
Different investment wrap platforms offer different investment options. Some platforms may have a wider range of investment products available, while others may specialize in specific asset classes.
Consider your investment objectives and the types of investments you would like to access, and choose a platform that offers a suitable range of options.
Customer service
The success of your investment strategy might be highly dependent on the investment wrap platform’s customer support.
You should seek out a system that provides you with access to helpful resources and tools, such as customer service representatives who are both competent and quick to respond.
Reporting and performance tracking
An investment wrap platform should provide you with detailed and accurate reporting on your investments, including performance tracking, transaction histories, and tax reporting.
Look for a platform that offers robust reporting capabilities to help you monitor and evaluate the performance of your portfolio.
Integration with other financial tools and services: Consider whether the investment wrap platform integrates with other financial tools and services that you use, such as accounting software or financial planning tools. Integration can streamline your financial management processes and provide a more holistic view of your overall financial situation.
Security and data protection measures: With the increasing prevalence of cyber threats, it’s important to choose an investment wrap platform that prioritizes security and data protection. Look for platforms that employ strong encryption, multi-factor authentication, and regular security audits to safeguard your personal and financial information.
Taking the time to assess these features will help you select a platform that aligns with your investment goals and provides you with a seamless and secure investment experience.
What considerations should I watch out for?
Having a thorough understanding of the fees and costs involved is crucial when deciding on an investment wrap platform.
These costs can have a major impact on your investment returns and can vary widely between platforms.
Administration fees
Fees for administration are typically charged by investment wrap platforms. The platform charge is a portion of your investment balance that goes toward infrastructure expenditures including server space, transaction fees, and customer service.
Long-term investment returns will be impacted by the administration fee structure, therefore it is crucial to know what to expect.
Transaction fees
The purchase and sale of investments on some investment wrap platforms is subject to a transaction fee. These charges are usually expressed as a flat rate or as a percentage of the total.
Trading often or making regular adjustments to your investment portfolio can result in significant transaction fees. The impact of transaction fees should be evaluated in light of your investing approach and trading frequency.
Commission fees
The investment wrap platform may charge you investment management fees if you choose to work with a financial advisor or investment manager.
The manager of your investments will charge you these fees in exchange for their services. Typically, you will pay a percentage of your total investment value as management fees. To determine if the investment manager’s fees are reasonable, it is necessary to assess the manager’s value and results.
Platform fees
In order to use specific features or services, users of some investment wrap platforms are required to pay additional platform fees.
Some examples of services that can incur such costs are in-depth examination of client portfolios or access to rare investment possibilities.
Think about how these extras will fit into your investing plan and if they are worth the extra cost.
Inactivity penalties
If you do not make any trades or maintain a certain balance in your account, you may incur inactivity fees from your investment wrap platform.
The purpose of these charges is to motivate consistent investment activity and discourage idle accounts. You should think about how inactivity fees can impact your investment returns if you are a passive investor or if you plan to hold onto your investments for a long period of time.
Extra charges
Foreign exchange fees, account closure fees, and withdrawal fees are just few examples of additional expenses that may arise as a result of using an investment wrap platform.
Of course, you should read the platform’s terms and conditions and fees ahead of time so you know what to expect.
Integration with preexisting financial resources
Increasingly crucial in today’s interconnected financial scene is the ability to integrate with other financial instruments and services.
It is important to think about how well the investment wrap platform you are considering works with the other software and services you already use, like accounting programs, financial planning programs, and budgeting apps.
Having all of your financial data in one place is a huge time saver when it comes to managing and monitoring your investments, and that is exactly what integration does for you. Automation through integration eliminates the need for human intervention, such as data entry or switching between platforms.
You can see the big picture of your finances by connecting your investment wrap platform with other apps and services. All of your financial assets and liabilities, not simply your investments, are included in this.
Having a comprehensive understanding of your financial situation allows you to make better decisions and develop a more effective plan.
Integrating your investment wrap platform with additional financial tools can streamline reporting and analysis processes.
With integration, there is no need to manually generate reports or export data to other programs. To better track and assess the value of your investments, you may quickly and easily generate detailed reports and conduct in-depth analyses.
You may improve the efficiency of your investment strategy with the help of financial planning software, which offers a wide range of powerful features. You can use these programs to plan out your financial future, play out various scenarios, and monitor your progress toward your goals.
Better, more well-considered investment choices can be made with the help of financial planning tools that can be integrated with your investment wrap platform.
Integrating systems reduces the possibility of data inconsistencies occurring on several systems. The reliability of the data you rely on is ensured when it is synced automatically across applications. This eliminates room for error and provides solid information upon which to base judgments.
When comparing investment wrap systems, one important factor to think about is whether or not they can integrate with your existing set of financial apps and services.
Search for a platform that has preexisting integration partnerships or offers APIs (application programming interfaces). Make sure it fits your demands and improves your investment experience by evaluating its level of integration and the features it offers.
Security for Personal Information
Security and privacy are crucial when you are putting your money to an investment wrap platform.
The platform must have solid security features to protect your data from hackers and other cybercriminals.
If you are using an investment wrap platform, your data should be encrypted in transit between your device and their servers. Your data is less likely to be intercepted or compromised if it is encrypted so that only authorized parties may read it.
Your investment wrap platform account is made more secure by using multi-factor authentication. Combinations of “something you know” (such as a password), “something you have” (such as a mobile device), and “something you are” (such as a fingerprint or face recognition) are commonly used for this purpose.
The platform lessens the likelihood of a hacker gaining access to your account by necessitating a number of different forms of verification.
Additionally, the investment wrap platform should do frequent security audits to find and fix any security flaws.
Both in-house and contracted security professionals are available for such inspections. The platform’s security safeguards are always up to date and in line with best practices thanks to regular audits.
You should create regular data backups and make sure the platform stores your data securely. Using encrypted databases and other physical safeguards, secure storage ensures that no unauthorized parties can gain access to your information.
In the event of a data breach or system failure, regular backups will ensure that your data can be restored without any loss.
Learn how the investment wrap platform treats your personal and financial data by reading its privacy policies.
You should be able to see evidence that the platform respects your privacy and does not give out your information without your knowledge and permission. Try to find services that follow privacy laws like the General Data Protection Regulation (GDPR) in Europe.
In addition, the investment wrap platform needs failsafes in place to detect and respond to security incidents as soon as they occur.
This entails the use of intrusion detection systems, incident response procedures, and real-time monitoring of network traffic. When your account or data is at risk due to a security problem, the platform should alert you as soon as possible.
Ask about safety and privacy features while comparing investment wrap platforms. If you are concerned about keeping your data safe, you should search for a platform that has a proven history of employing stringent security measures.
Finally, the platform should be open and honest about the security methods it employs to keep your data safe.
User interface and accessibility
The investment wrap platform’s user experience (UX) and interface design are crucial factors to think about.
Your investment experience might benefit immensely from a platform that is easy to navigate, provides clear instructions, and looks nice.
The many areas and functions of the investment wrap platform should be easily accessible via a well-organized and intuitive menu system.
A streamlined interface makes it simple to view your portfolio, execute transactions, and generate reports, among other basic operations.
The investment wrap platform should make it easy to manage your account. Your account information, investing choices, and other settings should all be easily accessible on the site.
If you want a bird’s-eye view of your investments and account information, it is best to select a platform that gives you a user-friendly dashboard.
The platform also needs to work well across a variety of platforms and screen sizes, such as laptops, tablets, and smartphones.
The platform’s responsive design guarantees a trouble-free experience on any of your devices, from smartphones and tablets to desktop computers.
Personalizing your UI experience through available customization choices can considerably improve usability. Try to find a system that allows you to tweak the interface to your liking by changing things like the color scheme and the way information is displayed.
Your investment data should be presented in a way that is both visually appealing and straightforward on the platform.
Investment success can be understood and evaluated with the aid of clear charts, graphs, and visualizations. The ability to go into specifics and discover trends requires a platform with dynamic and adaptable data visualization capabilities.
The investment wrap platform even has a mobile app, so you can manage your portfolio anywhere you go.
You should be able to effortlessly access your account, track your assets, and make trades from your mobile device thanks to the mobile app’s streamlined and user-friendly interface.
Consider the platform’s adaptability, ease of use, data visualization clarity, user-friendliness, responsive interface, and mobile device integration.
Using a platform with a user-friendly design can streamline the investment process and make it more enjoyable and fruitful for everyone involved.
Should you try DIY investing or consult a financial advisor?
The decision to try DIY investing or consult a professional can be a daunting one. On one hand, the allure of managing your own finances and potentially saving on fees is enticing.
On the other hand, the complexities of the financial market and the fear of making costly mistakes may make you hesitant to go it alone.
What are the pros and cons of DIY investing?
There are various benefits and drawbacks to think about when engaging in do-it-yourself investing. The opportunity to cut expenses is a major perk.
The costs of employing a financial advisor can be avoided if investments are handled in-house.
If you have a sizeable investment portfolio, this might add up to substantial savings over time. In addition, when you invest on your own, you get to make all the calls.
You have complete control over your investments, including where, how much, and when you put your money to work. Many investors may feel more confident with this amount of control.
There are risks involved in investing on your own. The time and energy investment needed is a major obstacle. It takes time, effort, and diligence to successfully manage your own money. Market and economic movements, as well as economic data and company news, must be closely followed.
Having a full-time work or other responsibilities can make this task difficult to do in a timely manner. As an added complication, you will need some training and experience to invest on your own.
It is easier to make mistakes or give in to your emotions when you lack experience with the financial markets and investment methods.
Overall, do-it-yourself investing can save money and give you more say in your financial future, but it is not for everyone. Before opting to go this route, it is crucial to take stock of your skills and resources.
What are the pros and cons of consulting a financial advisor?
A financial advisor’s advice comes with its own set of benefits and drawbacks.
Having access to a qualified advisor’s knowledge and experience is a major perk. Professional financial counselors have extensive expertise in budgeting, saving, and investing.
They can provide you unique recommendations based on your needs and comfort level with risk. You may use this advice to ride out market fluctuations, improve your returns, and secure your financial future.
Saving you time and stress is just another benefit of working with a financial advisor. You can trust your advisor to perform the effort on your behalf, saving you time that would otherwise be spent researching investments and keeping tabs on the market.
You may then have more time for other pursuits in your personal or professional life. A reliable financial planner can also instill a sense of responsibility and self-control. They can keep you on track with your financial plans so that you continue to make strides in the direction of your financial objectives.
There are benefits to working with a financial advisor, but there are also potential negatives. The price tag is a major factor of worry.
Fees for financial advice are often based on a fixed rate or a percentage of the client’s assets.
If you have a sizable investment portfolio, these costs can mount up quickly. You should examine the expenses and benefits of hiring an advisor very carefully before making any commitments.
Furthermore, not every financial counselor has the same level of expertise. Finding a trustworthy and knowledgeable advisor who has your best interests at heart is essential. To locate the appropriate match, it is crucial to do your homework and investigate all of your options.
You should pick an advisor whose principles and goals are congruent with yours and whose prices are reasonable.
How do you know if you need a financial advisor?
Understanding your goals and risk appetite
The first factor to consider is your financial goals and risk tolerance. Are you investing for retirement, buying a house, or funding your children’s education?
Each goal may have different time horizons and risk profiles. Understanding your goals will help you determine the level of risk you are comfortable with.
DIY investing may be suitable for those with a higher risk tolerance and a long-term investment horizon.
On the other hand, if you have a low risk tolerance or complex financial goals, consulting a financial advisor may provide the peace of mind and expertise you need.
Assessing your knowledge and expertise in investing
Another important factor is your own knowledge and expertise in investing. Do you have a solid understanding of financial markets, investment strategies, and asset allocation?
If you are confident in your abilities and have a track record of successful investing, DIY investing may be a viable option for you.
However, if you are a novice investor or lack the necessary knowledge, consulting a financial advisor can help bridge the gap and provide the guidance you need to make sound investment decisions.
Evaluating the complexity of your financial situation
The complexity of your financial situation is also a crucial consideration. Do you have multiple sources of income, a complex tax situation, or unique financial circumstances?
If your financial situation is straightforward and you have a good grasp of personal finance, DIY investing may be sufficient.
However, if you have complex financial needs, such as estate planning or tax optimization strategies, a financial advisor can provide the expertise and guidance to navigate these complexities.
Understanding your financial goals, assessing your knowledge and expertise, and evaluating the complexity of your financial situation are key factors to consider before deciding between DIY investing and consulting a financial advisor.
Taking the time to reflect on these factors will help you make an informed decision that aligns with your unique circumstances and goals.
If you have decided to go down the path of DIY investing, there are several strategies and resources available to help you succeed.
Asset allocation is one of the cornerstones of sound investing. Spreading your money around between stocks, bonds, and real estate is one way to minimize loss and enhance return on investment.
Your portfolio’s asset allocation should reflect your risk tolerance and investment horizon.
Do your homework before you invest. Doing your homework is key for effective do-it-yourself investment. Keep up with market movements and specific firms by reading reputable financial news articles, research papers, and investment websites.
This will help you go through your investment options rationally rather than reacting emotionally.
Learning how to invest is something you will do for the rest of your life. Use books, webinars, and online courses to further your education and professional development.
Better financial choices are possible after you have a firm grasp on core concepts like valuation methods and investment analysis.
Investment alternatives, cheap costs, and straightforward interfaces are just some of the benefits of the many online brokerage platforms available today.
Do your homework to locate a platform that works for you and gives you access to everything you need to invest on your own.
Remember, DIY investing requires dedication, discipline, and ongoing learning. It is important to continuously monitor your portfolio, stay informed about market trends, and adjust your investment strategy as needed.
What should you look for in a financial advisor?
Expertise and experience are two things that financial counselors have in plenty. They know what they are doing when it comes to the economy, investments, and budgeting.
You may rely on their expertise to guide you through difficult investing choices and improve your portfolio’s long-term performance.
Advice from a financial advisor can be customized to your specific needs, goals, risk threshold, and investment horizon.
They should assist you in developing an individualized investing strategy that fits your needs and goals. When you work with an advisor who takes the time to get to know you and your investment goals, you gain confidence and peace of mind.
Your financial advisor’s primary responsibility should be to keep a close eye on your portfolio and make modifications as appropriate. Your advisor’s job is to monitor the markets and make adjustments as necessary to keep your portfolio in line with your objectives and level of risk tolerance.
Taking this preventative measure will help you avoid costly mistakes and get the most out of your investments.
Financial planners offer a wide range of services, not just investment guidance. They can assist you in arranging your financial affairs, including retirement planning, tax minimization, and estate planning.
Your investments will be more likely to help you reach your long-term goals if you use this comprehensive approach.
Finding a trustworthy and competent financial counselor is crucial for gaining these advantages. Let us look at some suggestions for locating the most suitable counselor.
How do you find a qualified financial advisor?
- Finding a reliable and qualified financial advisor can be a daunting task, but with the right approach, you can find someone who meets your needs and earns your trust. Here are some tips to help you in your search:
- Ask for recommendations: Start by asking friends, family, or colleagues for recommendations. Personal referrals can be a great way to find a financial advisor who has a track record of providing excellent service and delivering results.
- Check credentials: Look for financial advisors who hold relevant certifications, such as Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA). These designations indicate that the advisor has met rigorous standards of education, experience, and ethical conduct.
- Research online: Use online directories and review platforms to research financial advisors in your area. Read reviews from their clients and check for any disciplinary actions or complaints. This will give you a sense of their reputation and the experiences of others who have worked with them.
- Interview multiple advisors: Once you have identified a few potential advisors, schedule initial consultations to get to know them better. Ask about their investment philosophy, their approach to financial planning, and their fees. It is important to find an advisor who aligns with your values and has a communication style that suits your preferences.
- Check their fiduciary status: A fiduciary financial advisor is legally obligated to act in your best interest. This means they must prioritize your needs and goals above their own. Working with a fiduciary advisor can give you peace of mind, knowing that they are committed to acting in your best interest.
What are the costs of DIY investing vs. hiring a financial advisor?
DIY investing costs
When you choose to manage your own investments, you can potentially save on fees typically charged by financial advisors. However, there are still costs to consider.
It is possible to pay more than your fair share of fees whenever you acquire or sell an investment. The brokerage you use and the investments you trade can both affect the costs associated with making trades. When estimating your final investment return, be sure to account for these expenses.
DIY investing also requires constant and ongoing research and education. This may involve purchasing books, subscribing to financial publications, or attending investment conferences. While these costs may be relatively small, they can add up over time.
Investing without professional guidance carries the risk of costly mistakes and missed opportunities. Emotional decision-making, lack of knowledge, or poor timing can result in suboptimal investment returns.
It is important to consider the potential opportunity cost of not having a professional advisor by your side.
Financial advisor costs
When you work with a financial advisor, you will typically pay a fee for their services. The specific fee structure may vary depending on the advisor and the services provided.
Some advisors charge a percentage of your total assets under management. This fee is typically between 1% and 2% of your portfolio value. For example, if you have $500,000 invested and your advisor charges a 1% AUM fee, you would pay $5,000 per year.
Hourly or flat fee: Some advisors charge an hourly rate or a flat fee for their services. This fee structure may be more suitable for individuals with smaller portfolios or specific financial planning needs.
Hourly rates can range from $100 to $500 per hour, while flat fees may range from a few hundred dollars to several thousand dollars.
Some financial advisors earn commissions by selling certain investment products, such as mutual funds or insurance policies.
It is important to understand the potential conflicts of interest associated with commission-based compensation and ensure that your advisor’s recommendations are in your best interest.
Consider the potential return on investment when evaluating the costs of DIY investing versus hiring a financial advisor. A good advisor should provide value that exceeds the fees they charge, whether through superior investment performance, comprehensive financial planning, or peace of mind.
Final thoughts
After considering the pros and cons, evaluating key factors, understanding the costs, and exploring the benefits of both DIY investing and consulting a financial advisor, it’s time to make an informed decision.
Assess your capabilities. Be honest with yourself about your knowledge, expertise, and available time. If you have the necessary skills and resources to successfully manage your own investments, DIY investing may be a good fit.
However, if you lack the expertise or find the time commitment overwhelming, consulting a financial advisor can provide the guidance and support you need.
Pained by financial indecision? Want to invest with Adam?
Adam is an internationally recognised author on financial matters, with over 760.2 million answer views on Quora.com, a widely sold book on Amazon, and a contributor on Forbes.
