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Willis Owen: Not a standout performer

Insiders score

infoMore info
This is the score our team have awarded the platform based on our own personal experiences and other important factors, such as fees and ease of use.

2.5out of 5

Recommended in
Not currently recommended

Willis Owen offers an investment ISA, Junior ISA, SIPP and general investment account through which you can invest in UK shares, investment trusts, ETFs, funds and a range of ready-made portfolios.

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By Clare West

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2.5out of 5

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Clare's view

The Verdict

Average Success Rate

14.6%

infoWillis Owen 3-Year Avg
The following dataset includes the performances of ready-made portfolios/funds offered by investment platforms and may include both actively and passively managed ready-made portfolios/funds. Performance indicated is also net of all fees to 31st January 2024, unless stated otherwise; any tiered fee structure will be disclosed. Ready-made portfolios/funds that include cryptocurrencies or any other securities outside cash and equities are not included in the dataset. The dataset only includes ready-made portfolios/funds which are explicitly advertised by their respective platforms as being for ‘beginners’, and which are exclusively offered by the platform itself. Funds which are managed by other providers and may be identically offered across multiple platforms were not included in this dataset. For example, the Vanguard UK All Share Acc. ETF was offered by Plum, but as it is not directly managed by Plum and customers could reasonably access it on multiple platforms, it was not included for the purposes of this research. Other discretely advertised securities or investments are not included.

10.6%

infoIndustry avg.
The industry average is the median average of all fund/ready-made portfolio performance figures we collated from 23 investment providers. To see the full dataset, visit X page.
Above average fees makes Willis Owen an expensive platform in comparison to most other UK investment platforms. I've included some comparison charts further down the page which illustrate just how comparatively expensive this platform can be.

That, combined with the fact that you can't invest in individual US stocks on Willis Owen, and the fact there is no mobile app, makes this a platform I find very hard to recommend.
arrow-down-orangeRead More
quote

Pros

  • No dealing fees on funds
  • Flexible ISA
  • Good customer service
  • Good range of ready-made portfolios
quote

Cons

  • Can't invest in individual US stocks
  • Pricey - higher than average annual fees
  • £7.50 per stock trading fees
  • No mobile app
  • Verdict2.5
  • Ready-made Portfolio2.5
  • Fees2.5
  • Trading Platform2.0
  • Research3.5
  • Safety5.0
  • Education4.0
  • Customer Service4.0

Clare's view

Who do I recommend it for?

Average Success Rate

14.6%

infoWillis Owen 3-Year Avg
The following dataset includes the performances of ready-made portfolios/funds offered by investment platforms and may include both actively and passively managed ready-made portfolios/funds. Performance indicated is also net of all fees to 31st January 2024, unless stated otherwise; any tiered fee structure will be disclosed. Ready-made portfolios/funds that include cryptocurrencies or any other securities outside cash and equities are not included in the dataset. The dataset only includes ready-made portfolios/funds which are explicitly advertised by their respective platforms as being for ‘beginners’, and which are exclusively offered by the platform itself. Funds which are managed by other providers and may be identically offered across multiple platforms were not included in this dataset. For example, the Vanguard UK All Share Acc. ETF was offered by Plum, but as it is not directly managed by Plum and customers could reasonably access it on multiple platforms, it was not included for the purposes of this research. Other discretely advertised securities or investments are not included.

10.6%

info Industry avg.
The industry average is the median average of all fund/ready-made portfolio performance figures we collated from 23 investment providers. To see the full dataset, visit X page.
arrow-down-orangeRead More
quote

Pros

  • No dealing fees on funds
  • Flexible ISA
  • Good customer service
  • Good range of ready-made portfolios
quote

Cons

  • Can't invest in individual US stocks
  • Pricey - higher than average annual fees
  • £7.50 per stock trading fees
  • No mobile app
  • arrowVerdict
    2.5
    We only have one full years' data on the performance of Willis Owen's ready-made portfolios, which isn't enough to form an opinion on the success of the investment strategies being used by Willis Owen's fund managers.

    At the end of one full year, however, Willis Owen ready-made portfolios are achieving an average of 15.1% returns, which compares favourably against an industry average over one year of 12.4%.
  • arrowReady-made Portfolio:
    2.5
    Average Success Rate

    14.6%

    infoWillis Owen 3-Year Avg
    The following dataset includes the performances of ready-made portfolios/funds offered by investment platforms and may include both actively and passively managed ready-made portfolios/funds. Performance indicated is also net of all fees to 31st January 2024, unless stated otherwise; any tiered fee structure will be disclosed. Ready-made portfolios/funds that include cryptocurrencies or any other securities outside cash and equities are not included in the dataset. The dataset only includes ready-made portfolios/funds which are explicitly advertised by their respective platforms as being for ‘beginners’, and which are exclusively offered by the platform itself. Funds which are managed by other providers and may be identically offered across multiple platforms were not included in this dataset. For example, the Vanguard UK All Share Acc. ETF was offered by Plum, but as it is not directly managed by Plum and customers could reasonably access it on multiple platforms, it was not included for the purposes of this research. Other discretely advertised securities or investments are not included.

    10.6%

    infoIndustry avg.
    The industry average is the median average of all fund/ready-made portfolio performance figures we collated from 23 investment providers. To see the full dataset, visit X page.
    We only have one full years' data on the performance of Willis Owen's ready-made portfolios, which isn't enough to form an opinion on the success of the investment strategies being used by Willis Owen's fund managers.

    At the end of one full year, however, Willis Owen ready-made portfolios are achieving an average of 15.1% returns, which compares favourably against an industry average over one year of 12.4%.
  • arrow Fees:
    2.5
    Higher than average annual fees makes Willis Owen expensive when compared with other providers, particularly for large portfolios.

    Annual fees: 0.40% (with reductions for portfolio size - 0.15% for portfolios over £250k)
    Trading fees: £7.50 per trade, except for funds which are £0 per trade.
    If you set up a regular trading plan, all trades are free of dealing fees.
    arrow-down-orangeRead More
    quote

    Pros

    • No dealing fees on funds
    • No dealing fees if you set up a regular trading plan
    • Reduction in annual fees for portfolios holding more than £50k
    quote

    Cons

    • £7.50 per trade of stocks is high
    • Annual fees are higher than average
    • Expensive for large portfolios
  • arrowTrading Platform:
    2.0
    Willis Owen customers can view their portfolios 24/7 via the website but there is no mobile app - which is something that puts this brand far behind competitors (I don't know of any other provider which doesn't now offer customers platform access through a mobile app).
    quote

    Pros

    • Your portfolio is given an overall risk rating which can be helpful
    • Web pages are optimised for viewing on a mobile
    quote

    Cons

    • No mobile app
    • Not the most clear or easy web platform to navigate
  • arrowResearch:
    3.5
    Research tools are adequate and provide enough of the information likely to be used by the average investor to make a decision.
    quote

    Pros

    • Stock, fund, ETF, and investment trust screener to allow you to narrow down your search for investments
    • Filter by industry, market cap, yield, and P/E ratio
    • Fund Key Investor Information Documents are easy to find
    • View past performance charts over 1M, 3M, 6M, 1Y, 5Y and 10Y.
    • Ability to select & compare potential investments side-by-side
    quote

    Cons

    • No live pricing
    • Limited selection of fundamentals and key metrics on display
    • No analyst ratings or forecasts
  • arrowSafety:
    5.0
    Willis Owen has been in business more than 40 years, and is authorised and regulated by the Financial Conduct Authority (FCA).
    quote

    Pros

    • Long-established provider with a good reputation
    • Authorised and regulated by the FCA
    • FSCS protected
  • arrowEducation:
    4.0
    Willis Owen offers some basic guides, articles and a blog covering relevant topics on retirement planning, investing, ISAs, the financial news, and pensions.
    quote

    Pros

    • 'Insights' blog is regularly updated with insights on topics of relevance to investors
    • Introductions to investing, pensions, ISAs and retirement planning
    • Tax relief calculator
    • Free goal planning and retirement planning tools
    quote

    Cons

    • Mostly just covers the basics
    • No podcasts or videos available
    • No live sessions to sign-up to
  • arrowCustomer Service:
    4.0
    Willis Owen does well here. They make it easy to get in touch and, if you're a fan of human interaction rather than chatbots and the like, Willis Owen's traditional approach to customer service may suit you well. There is a phone line which was answered without delay when I tried it, available Monday - Friday, 9am - 5pm.

    Outside of office hours, your call will be picked up by a message service, also manned by a human. Alternatively, you can email your enquiry.
    quote

    Pros

    • UK phoneline available within office hours, 5 days per week
    • Real human takes a message outside of these hours
    • Email enquiries welcomed
    • Website 'Help' section with answers to FAQs
    quote

    Cons

    • No weekend phone support
    • No chatbot offered on the website

update-icon

Updates

Who do I recommend Willis Owen for?

With high fees, an unexceptional choice of funds and UK shares, and no access to individual US shares, it’s hard to find a case for recommending Willis Owen in any circumstance.

Investing in funds results in slightly lower costs due to zero trading fees on funds, but there are better providers when you measure Willis Owen against almost any feature or factor.

Account types and assets

Accounts

Willis Owen offers retail investors access to:

  • General investment account (GIA) is an account designed to provide access to investments. You may be liable for tax on any income or capital gains earned within a general investment account but this can be a useful vehicle for anyone who has maxed out their ISA allowanceGeneral investment accountinfo
  • Sometimes called an investment ISA, a stocks and shares ISA is an individual savings account that allows you to invest in shares, unit trusts, investment funds, and bonds. You will not need to pay tax on any income or capital gains earned on investments within an ISAStocks and shares ISAinfo
  • A self-invested personal pension (SIPP) is a type of private pension that allows you to control the specific investments that make up your pension fundSelf-Invested Personal Pension (SIPP)info
  • A Junior ISA

An investment ISA (Individual Savings Account) is a tax-efficient wrapper in which you can buy, hold and sell investments.

The Willis Owen stocks and shares ISA is a ‘flexible’ ISA, meaning you can take out cash, then put it back in during the same tax year without reducing your current year’s allowance.

Discover our best-rated investment ISAs

SIPP

A self-invested personal pension (SIPP) is ideal for self-employed people and those looking to make additional investments for retirement in addition to their workplace pension. A SIPP allows you flexibility – you get to choose how often you pay in, and how much – and total control as you get to choose what you’re invested in and how much risk you want to be exposed to. It’s also a tax-efficient way to save as, for every 80p you pay in, the government will top it up to £1.

With a SIPP, you can choose to invest in your own selection of funds, ETFs, investment trusts or UK shares from the Willis Owen offering. If you don’t want to go down the path of selecting your own individual investment assets, you can either choose one of Willis Owen’s ready-made portfolios (more details below), or put your money into a ‘Glideplan’ portfolio, a targeted retirement plan aligned to your age. I was matched with the Vanguard Target Retirement 2045 Acc fund, for example.

Assets

You won’t have access to the tens of thousands of assets that providers such as interactive investor and Saxo offer, but Willis Owen clients can access a reasonably good choice of investment options, with one exception: you’ll notice there’s no option to buy US stocks or ETFs which will be a major issue for many investors.

There is also some help with choosing funds if you’re unsure where to start and feel safer with funds than picking individual stocks. Willis Owen have selected 105 ‘Focus Funds’ – funds that are highly regarded by their in-house Research Team. Factsheets detailing the information you’re likely to want to know about funds (past performance, fund fees and what they’re invested in) are all made easily available which also helps with the decision-making process.

Assets currently available from Willis Owen are:

  • 860+ UK stocks
  • 400+ ETFs listed on the London Stock Exchange
  • 171 Investment Trusts
  • 2,278 funds
  • 6 x risk-rated, A ready-made portfolio is a pre-made collection of investments that have been put together by investment experts. They are designed to be a simple option for those who don’t want to choose individual stocks or funds for themselves.ready-made portfoliosinfo

Ready-made portfolios

Ready-made solutions can be an ideal option for those who want more help getting started with investing. You can choose from a range of funds chosen to match the level of risk you’re willing and able to take with your money.

Willis Owen offers clients a choice of six ready-made portfolios:

1 x Cautious Growth Portfolio
1 x Moderate Growth Portfolio
1 x Adventurous Growth Portfolio

Plus one Responsible Growth option for each risk-rating.

See ‘portfolio performance’ below for analysis of historical performance of these portfolios.

Fees

Willis Owen customers pay:

Annual fees

£0 – £50,000 0.40%
£50,001 – £100,000 0.30%
£100,001 – £250,000 0.20%
£250,000 + 0.15%

Fees for SIPP accounts

0.68% in total (reductions for pot size)

That fee consists of:

A 0.28% investment charge, paid to Vanguard for managing your investments. And a 0.40% Willis Owen platform charge for running your pension plan, reducing to 0.25% for funds above £100,000 and 0.15% for funds above £250,000.

Dealing fees

No fees for trading funds.

For trades on stocks, ETFs, and investment trusts, you’ll be charged dealing commission of £7.50 per online trade, which is definitely at the higher end of the scale.

There is a way to avoid the commission however, by setting up a regular trading plan. With the regular investment service, you agree to set up an automated transfer of at least £25 per month into your trading account. This won’t suit everyone as it doesn’t allow for spontaneity, but drip-feeding your portfolio means you may be better able to smooth out peaks and troughs in the market.

Awards

FAQs

Yes, Willis Owen is safe. It is authorised and regulated by the Financial Conduct Authority and part of the Financial Services Compensation Scheme (FSCS) meaning that you could be entitled to compensation of up to £85,000 in the event that the company was so go out of business.

No, I wouldn’t class Willis Owen as a cheap investment provider. Its annual fees are above average and although they taper down as your portfolio grows, it still works out more expensive than most other providers.

Willis Owen customer service agents are available by phon on 0800 597 2525 (for UK callers) between 9am-5pm on weekdays. Outside of those times, you can leave a message with their messaging service, or email enquiries@willisowen.co.uk

Yes, the Willis Owen stocks and shares ISA is what’s known as a flexible ISA. That means you can remove and repay money without it impacting your annual allowance limit.

Ask the Insiders

Have a question about Willis Owen that we haven’t covered? Ask it here and we will get back to you as soon as possible!

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