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.
The website is easy-to-use, intuitive and to the point. 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 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.
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'. Posh City boys Schroders own a chunk of the equity which arguably gives Nutmeg the clout of having a senior, rich, very grown-up backer!
Stocks & Shares ISA
In 2016 portfolio returns ranged from 2.3% to 15.4%.
"Very poor customer service. Submitted an online ISA transfer form through Nutmeg for a transfer into Nutmeg. Was told it would take 2-4 weeks. I started chasing after week five with no response from customer services. I started escalating the request for information after week six to finally establish no ISA transfer request had ever been submitted. A mealy mouthed apology just isn't good enough. I will be transferring my existing holding elsewhere. My advice, take your money elsewhere, where there's satisfactory customer service."
"I've been using a financial adviser for years and decided now was the time to invest some spare cash on my own. I used the boring money info and did a bit of other research and having looked at several ESG options plumped for the higher risk Nutmeg fund. The site/app is easy to use and gives you the information you need. So far so good!"