Bestinvest Review: The UK Investment Services Scene Colossus

Navigating the economic landscape can be challenging even for enthusiasts. Each year, more and more people are electing to book services of a professional in order to enhance their portfolio.

If you’re considering such a service, you can hardly go wrong with the one we’re discussing in our Bestinvest review.

Who Owns Bestinvest Brand?

Bestinvest is a brand owned by a larger conglomerate called Evelyn Partners (est. 1836). Evelyn excels in wealth management and professional financial planning with almost 200 years of service.

The subject of today’s review is a firm founded much later, in 1986 by John Spiers. John is a successful entrepreneur who remained the CEO of the firm for 20 years.

Legal information on the website reveals that the Bestinvest UK website (bestinvest.co.uk) is operated by Evelyn Partners Investment Management Services Limited.

This entity can be found in the UK Companies House register:

Is Bestinvest Regulated?

The state of the Bestinvest legit status is a bit convoluted, we’ll soon explain why. You see, there’s multiple entities in the FCA database with this name. 

The currently regulated one that’s also listed on the website is called Evelyn Partners Investment Management Services Limited, authorized since 2001.

However, if you look at the website listed in the FCA database, it says evelyn.com and bestinvest.co.uk is not included. 

When we used the domain to search the FCA register, another firm came up, but in this case, an unregulated one called Bestinvest (Research) Limited.

Our only concern is the fact that the domain we’re reviewing today is not listed as licensed in the FCA database. Otherwise, this investment solutions giant is known in the industry and has been active in the field for quite some time. Another proof of that is the nearly flawless Bestinvest Trustpilot rating.

Bestinvest Platform Overview

Investing into the future is a difficult ordeal. To succeed, you need to master the art of meticulously choosing each individual asset, and split your funds accordingly – or you can have a pro do it for you!

And Bestinvest services are nothing if not professional and up to the point. The company offers a slew of finance-oriented advisory services, with special focus on future planning, such as pensions and child funding.

One of the best performing products with the firm are the Individual Savings Accounts, or ISAs as they are known. The firm differentiates personal stocks & shares and junior ISAs, each tailored for a specific niche.

With personal ISAs, users can have a tax-free investment of up to £20,000 per year into curated stocks.

Junior ISAs are oriented toward wealth-building for the next generation, with up to £9,000 of tax-free investment each year. Investors have full control over the child’s allowance from the ISA and the account.

Users of the Bestinvest account can also opt for Self-invested Personal Pension (SIPP). Again, these come in two varieties – personal and junior, with the same general premise. They offer an alternative option for additional income during retirement.

Venture Capital Trusts or VCTs allow clients to profit from investing into promising businesses. The company’s services are oriented towards UK domestic firms. While the riskiest of all investment types, VCTs have the highest potential return. Additional tax rebates and the absence of capital gains tax makes this offer even more attractive.

While the Bestinvest stock broker services are no longer on the table, using the data gathered from decades long experience the firm can offer curated portfolios. Known as ready made portfolios, these combine a variety of assets in a single over-the-counter package.

Tracking any of these investment options would be difficult without a specialized piece of software. Enter the Bestinvest app – a proprietary solution that is available for both Android and iOS devices. The app boasts excellent client confidence, with an overall score of 4.5 stars in Bestinvest reviews, which is a reputation comparable to The Crypto App.

Overall fees are approachable, but may vary depending on the chosen type of service. Some charges, like cash balance interest, are 4.45% per annum, paid monthly in arrears. This cost, however, is subject to change without prior notice which is reminiscent of less transparent firms like Phoenix Trader Funding.

Other products, like portfolio health check, incur a one-time fee of £495 (VAT included). You may consult the table below for an overview of service fees:

How to Withdraw From Bestinvest Company?

Very little withdrawal information is available on the site besides some general FAQs. Likewise, the FAQs mostly direct clients to call the service agents for more information on the subject.

Generally speaking, though, deposits and withdrawals are orchestrated through bank payments. Payouts are free of charge and require a processing time of 3-5 workdays on the company side. To expedite the process, clients can request a CHAPS withdrawal, which incurs a fee of £35.

Users may opt for regular withdrawals as well. This requires the client to enter the Bestinvest login information, and access the dashboard.

The payout interval and amount can be set according to the users’ preference. If you need additional help with the procedure, you can always reach out to the company representatives.

FAQ