Wealthtime Reviews 19

My experience with Wealthtime has been shockingly poor, especially given that this all arose in the context of bereavement.

Following the death of my father, I expected a regulated financial services firm to handle matters with accuracy, care and basic procedural competence. Instead, I encountered a process that was fragmented, defensive and, at times, plainly inadequate. What should have been handled with clarity and sensitivity became a prolonged struggle involving complaint handling failures, data protection concerns, inconsistent explanations about the source of personal data, and the need to challenge inaccurate characterisations recorded about me in complaint materials.

Particularly troubling was the way Wealthtime handled my data rights. I received what Wealthtime itself later described as an unsatisfactory subject access request response. Even after this, important questions still had to be chased repeatedly: what records had actually been relied upon, where key personal data fields had been sourced from, whether current system data had been substituted into summaries, and on what basis certain assertions about me had been made. This is not a minor administrative irritation. These are basic issues of data accuracy, accountability and transparency.

What made the experience worse was the lack of clear ownership. Different people appeared to answer different fragments of the same underlying problem, with no confidence that anyone had proper command of the whole picture. For a firm dealing with bereavement, complaints and personal data, that is unacceptable. It created the impression not of a well-run organisation, but of one struggling to control its own records, explanations and internal coordination.

Wealthtime has since apologised for the time taken and for the unsatisfactory SAR response. But those admissions came only after repeated chasing and escalation. They do not restore confidence; they reinforce the impression that the firm only moves when pressed, and even then only partially.

Overall, my experience has been of a firm that fell well below the standard I would expect in such sensitive circumstances. Following bereavement, clients should not have to fight to obtain clear answers, accurate records and properly handled data rights.

Amazing help! Sarah was kind and very informative, as a Paraplanner she helped me locate the isin numbers and costs for funds and showed me a way to do it going forward that will save me hundreds of hours in the future. Can't give enough positive feedback.

I called regarding my SIP and got through to Sarah Hooper. All I can say is someone was looking down on me letting Sarah anwser the call that day. Sarah was an absolute angel! I had to call to complete an expression of wish due to being in an abusive relationship & currently in between finalising the divorce and at risk. This is one of the hardest times of my life and how Sarah dealt with me with such empathy & care made this awful time that little easier. To say Sarah was amazing is an understatement. Not only did she show such compassion, she was also so very knowledgeable and put my mind at ease loads with her expert advice. Sarah is truly an asset to Wealthtime and if all the colleagues are like Sarah i would highly recommend! Sarah thank you so very much and I hope you understand what a difference you made to me that day!

Reading through some of these reviews, Wealthtime seem to get a lot of negative comments based on investment performance. As an investor, I am happy with the platform. My adviser manages my portfolio for me and I understand that the stock market can change. Overall, I have no complaints! The annual charges that my husband and I pay are good value for money and my adviser has regular reviews with us to ensure that our investment strategies suit our needs. Happy with the service provided.

The only people who appear to be happy with WEALTHTIME are the IFAs who continue to benefit from fees deducted from poorly performing investments. Our investments have performed below average every year.

I have dealt with Wealthtime for 15 years now and they have been brilliant. I was surprised to hear from a potential client of mine that their Trust Pilot reviews were not good, apart from another IFA's opinion which was very good. As such, it is important to note that in the last few years, the owners of Wealthtime bought Novia (another investment/pension provider) and Novia was renamed 'Wealthtime' and what was the Wealthtime platform I have used for 15 years has been renamed as 'Wealthtime Classic'.

It seems the poor reviews on here are for Novia, not what is now called Wealthtime Classic. Unfortunately this is giving the impression that Wealthtime Classic has been poorly reviewed, which I highly doubt, as their customer service, functionality and cost are very good indeed.

Perhaps there should be two Trust Pilot options, one for each, to give a true picture of both?

As an Independent Financial Adviser (IFA), I've had extensive experience working with Wealthtime, and I'm compelled to share my overwhelmingly positive experience.

First and foremost, their response time to queries is truly first-class. In our industry, timely communication is crucial, and Wealthtime consistently delivers on this front.

What sets Wealthtime apart is their exceptional range of investments at a very competitive cost. They offer a diverse portfolio that caters to various client needs and risk profiles. This breadth of options allows us as IFAs to create tailored solutions for our clients.

Transparency is another area where Wealthtime shines. There are no hidden charges - what you see is what you get. This level of honesty is refreshing and builds trust with both advisers and clients.

I feel compelled to write this review because I've noticed some negative feedback that seems to stem from issues with individual financial advisers rather than Wealthtime itself. In my experience, Wealthtime has consistently provided excellent service.

Most importantly, using Wealthtime has allowed us to save our clients hundreds of pounds per annum, thanks to their highly competitive charges. This cost-effectiveness, combined with their quality service, makes Wealthtime an excellent choice for IFAs and clients.

What truly sets Wealthtime apart is how they compare to other major players in the industry. We have worked with numerous well-known providers including Abrdn, Fidelity, Aviva, AEGON Cofunds, AJ Bell, L&G, and Prudential. After extensive experience with these companies, I can confidently say that Wealthtime stands above the pack. Their combination of responsive service, diverse investment options, transparent pricing, and cost-effectiveness puts them in a league of their own.

Do not invest with this company. Worst company I have ever dealt with in 50 years of business very unprofessional I will never use wealth time again ever. also moving my pensions to a reputable company

This company have no customer service skills at all! I only have a small pension with them whichbi have asked to be paid out on. Initially, I was told 3 to 5 days, when that expired, I was told they had sent me the wrong forms and it would be 6 days and that Soph would call me back with an update. As no update was received, I rang again to be told 7 days which will be almost a month since I requested the payment. Appalling!

Wealthtime formally known as Novia, this company continue to to charge customers commission even though the investments declared by FCA as nil value. This company will wipe out your savings and investments in commission and charges even after your death.

Disgusting service.
Do not deal with this company
2 months and still have not received my money.

Excellent company( as were Novia Financial) very good and understandable platform, money growing very well....

It's a shame they do not have a minus as it would be in the thousands, keep well away from this company if you want to keep your money. Theve managed to loose me £12.500 and had the cheek to keep on charging me a fee, why did they change to Wealthtime, to hide, I am looking for people who have also had this issue, so we can put this on every media site we can find.

[Please see my review of Novia Financial on Trustpilot. Wealthtime is the same company repackaged.]

The performance of my Stocks and Shares ISA with Novia Financial (now Wealthtime) has been abysmal. The only people making money were Novia (now Wealthtime) and my broker - from their fees.

I was offered a preferential fixed rate deposit ISA elsewhere I decided to transfer it. I have been trying to transfer my ISA out of Novia Financial (now Wealthtime) for weeks!

I was told by my broker that Wealthtime (formerly Novia Financial) would [finally] process the transfer at the end of last week (15th December 2023) and the money disappeared from the dashboard.

Lots of companies say it takes several working days for such a transaction to be processed. Why is that? Where does the money go? My kids send me money from South Africa and it arrives the same day!

I have never received any communication from Wealthtime (formerly Novia Financial) directly during the entire process so I don’t know how much it was, exactly when they processed it or where they sent it.

Meanwhile, my preferential offer for a fixed deposit ISA has expired and I am not sure the receiving provider will extend it any further.

I cannot possibly recommend Wealthtime (formerly Novia Financial) because I never received any benefit from the investment and their customer service is something between bad and nil.

UPDATE:- My new ISA service provider received the money from Wealthtime ( formally Novia Financial) on the 19th December 2023. I am now waiting to see if I will get the promised interest rate before I bother to take this any further. I have still not received any sort of email or closing statement from Wealthtime (formerly Novia Financial) on this.

An absolute nightmare to get your own money back - Forms after forms that need to be verified and can only be posted. Zero communication from them if they require further paperwork so you have to call them back to see if things are progressing. The investment itself has performed appallingly far better to stick it in a building society ISA - I would never recommend or use again.

19 Jan follow up
I would like to add further example of their financial mismanagement, After completing the forms 1. Confirm my Identity, 2.Confirm by bank account, 3.I then had to submit another form requesting the transfer of my money into the confirmed bank account all in the name of security "as we look after our clients money". Well not very well apparently as they wrongly sent it to my ISA account something I neither requested nor wanted. Complete mismanagement, do not trust your money to this company,

Update on last review, what a change, what a change! The website has long needed this updated view and it fills in gaps that were missing. The chart display not only looks better it gives the relevant information looking back for 6 or 12 months. The new graphics are easy to look at and pages are easy to navigate. I don't know who or if anyone was listening but well done to all involved with the new look.