Is it worth it? Sally Hamilton on the Santander digital advice service

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Many people fancy dabbling in the stock market, but feel they are not wealthy enough or are too nervous to take the DIY approach. Others are anxious about the cost of professional advice.

High street bank Santander has just launched Digital Investment Adviser, a robo-advice service aimed at removing these worries.

For a minimum investment of £500 – and a maximum £20,000 – customers get the same kind of regulated financial advice normally dispensed by a human adviser. Alternatively, they can invest £100 initially, plus £20 a month.

New venture: Santander has just launched Digital Investment Adviser

The robo-service uses the answers given to a series of online questions to establish a customer’s attitude to risk and their financial aims. 

It then provides the appropriate investment option – which is one of four Santander funds made up of a mixture of equities and bonds.



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The higher the risk an individual is prepared to take, the more equity exposure. Conversely, the lower the risk profile the larger the proportion of bonds. 

If acted upon, the advice costs a flat £20 with fund charges and fees of roughly 0.8 per cent a year.

VERDICT: The service is simple – even fun – to use. It is reassuring the advice is regulated. But it is best for beginners and fund choice is limited.

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