as of 23/01/2019 at 2:20 pm
The biggest of the UK 'robo advisers' with over £1bn under management today. Suits people who don't know where to start or who are not interested in managing their investments on an ongoing basis.
You choose between 10 different options according to your financial situation and attitudes and get plopped into a ready-made portfolio of lots of different investments from across the globe. You can only use their portfolios – you can’t pick your own funds or shares.
You can either choose their low cost automated 'fixed allocation portfolios' or pay a bit more if you'd like their team to manage your investments in a more hands-on way. Either way, it's not an expensive option – the managed portfolios cost around 0.94% per year, or £9.50 on every £1,000.
A nice digital option which will suit busy people on-the-go. With 5 years under their belt, by far the most experienced of the UK 'robo advisers'.
The largest UK robo-adviser, with over £1bn invested
|Minimum amounts:||£500 minimum initial amount for an ISA or investment account – if you have less than £5,000 you also need regular investment of £100 per month to set up
£5000 for a pension
|12 month indicative performance:||
A medium risk portfolio returned 7.0% in 2017, after charges.
"Hi. Trying to get a bit more pro-active with my pension. I have just over 100k in an Aviva pension mixed investment 40-85% fund with a 0.6% charge. If the money had been in an online managed fund like Nutmeg for example, is it reasonable to assume that as the markets fell last year the funds would have been managed in real(ish) time to limit the damage and therefore not suffer the loss the Aviva fund did? If so, is it therefore a no-brainer to transfer my pension to an online managed pension like Nutmeg (0.35% charge over 100k) or is it not quite as simple as that?! Thanks for your time"
08/02/2019Read our reply
"I’m new to investing and in my late 30's. I'm actually stuck in a dilemma whether to invest using DIY platforms like Interactive Investor, A J Bell or Hargreaves Lansdown OR invest using robo advisors like Nutmeg, Moneyfarm or Pensionbee. I have compared the fees and they are not significantly different. Do robo advisers have a better return rate? I can dedicate some time to DIY investing but not a significant amount of time. Please advise. Thank you."
Victor , Kent
14/01/2019Read our reply
"I presume you probably get a lot of these emails from hopeful entrepreneurs attempting to make money. However, I also concluded that it was worth a shot! - I have read a lot of your content online about investing money and I have seen you on the BBC before. I was hoping that you'd potentially share some words of wisdom with me. I often find that my monthly salary is spent on things I don't need or just saved up; without accumulating much. So I guess my question is.. what do I do with my money to make money? Of course I am not expecting you to tell me where and when to invest but simply what to read, and I guess I really would like to know how you became an expert, where did you start? I feel like investment is something so big I can barely even touch it, and I would greatly appreciate any words of advice you could share with me. Thanks and I hope to hear from you soon. Kind Regards, Beth"
07/12/2018Read our reply