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Nutmeg Review

as of 16/07/2019 at 8:10 am

Holly's View

Nutmeg is the most established of the ‘robo advisers’ and it offers a great option for people who want to invest without the hassle. It’s lost some of its start-up spark with some new boring corporate imagery :0) but the service is good and the communication of complex notions is tackled well: it’s simpler than many, pretty slick and the communications are good. We did find that the back-end of the website doesn’t quite live up to the simplicity of the front end.

Our Rating

Recommended For

Beginner Investor

Confident Investor

In a nutshell

Really easy to use

Pre-packaged investments

The most established 'robo'

You Say

Your overall rating

Based on 97 reviews

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What to Expect

Investment Choice

Products

Stocks and Shares ISA

Lifetime ISA

Investment Account

Pension

Investments available

Ethical investments

Chosen for you

Investment help

Robo advice / ready-made portfolios

The 'Geeky' Details

Provider details

The biggest of the UK 'robo advisers' with over £1.5bn 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 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. They also offer a range of socially responsible portfolios which are managed by their team. The managed portfolios cost around 1.01% per year, or £10.10 on every £1,000. Socially responsible portfolios cost around 1.15%, or £11.50 on £1,000 invested. 

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'.

Important Facts & Figures

Provider Size:

The largest UK robo-adviser, with over £1.5bn invested

Minimum amounts: £500 minimum initial amount for an ISA, pension or investment account.
£100 minimum for a Lifetime ISA
12 month indicative performance:

A medium risk portfolio returned -5.9% in 2018, after charges.

Your Questions

"I'm a 48 year old with minimal pensions. I would like to start a new pension to save for the next 12 years. I've already set up a Stocks & Shares ISA with Nutmeg, so would like to start my pension with another provider. I know little about investments so would like to use a company that has ready made funds based on risk assessment. Which would you recommend?"

Sam, Norfolk

30/05/2019

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"I am a beginner investor and would like to invest in a "socially responsible" Stocks & Shares ISA. I have looked into the Nutmeg and Wealthify funds, having found out about them through the Money Saving Expert website. Is there information about any other such providers on your website? And do you have any advice about how to compare the "socially responsible" criteria on the different funds?"

Joy, Glamorgan

16/04/2019

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"I have a rough total of £30,000 in two separate company pensions from previous employers. For the last 12 years I have not contributed to a pension. I am now 44 and know I need to put money into one. I'm not financially aware and the robo providers sound tempting but, obviously, I want the possibility for the best return at medium risk. I aim to invest about another £30k immediately. Your Q2 2018 results update showed Nutmeg’s Portfolio 10 as returning 7.92%, but the Best Buys page for Nutmeg says it returned -5.9% in 2018 - I read at as a 5.9% loss. Please can you advise why the figures are so different? I've also heard that things like Vanguard Lifestrategy 60 are also a good choice but they don't have a SIPP - but then I don't know if I need a SIPP - I just want a good, solid pension. Many thanks."

Dave, West Yorkshire

26/03/2019

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