What is Nutmeg’s Lifetime Stocks & Shares ISA?

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Under 40, struggling to save as much as you need? If so, Nutmeg’s lifetime stocks and shares ISA may just be the solution you’ve been looking for. Since the Government launched the lifetime ISA in 2017, a growing number of investment firms have been getting in on the act. One of these is Nutmeg who clearly see this as a chance to offer a financial product tailored to the needs of millennials.

Nutmeg Lifetime ISA Review

Name: Nutmeg

Description: Owned by JP Morgan, Nutmeg won the “Best Lifetime ISA” category in our 2022 award, offering one of the simplest low cost LISAs with a range of low, medium and high-risk options.
Capital at risk. Tax treatment depends on your individual circumstances and may change in the future

Key Features

  • Investments: Pre-made portfolios
  • Minimum deposit: £100
  • LISA management fees: 0.45% – 0.75%
  • LISA share charges: n/a

Fees: A Lifetime ISA with Nutmeg costs 0.75% for their managed portfolios which drops to 0.35% for balances over £100k. For their fixed allocation portfolios they charge 0.45% dropping to 0.25% for balances over £100k. For all portfolios, there is an addition charged by the investment fund managers of around 0.2% and the market spread on buying and selling portfolios is on average 0.07%.


  • Simple Lifetime ISA investment platform for beginners
  • Regular investing available (repeat orders)
  • Scaled account fees that reduce as your LISA grows


  • Cannot invest in individual shares
  • Pricing
  • Market Access
  • Online Platform
  • Customer Service
  • Research & Analysis

Lifetime ISAs were launched to address the savings gap among millennials. This generation, which hit financial independence in the midst of the 2008 recession, has found it tough to put aside substantial sums for retirement. Stagnant wages combined with a high cost of living mean getting onto the housing ladder remains a pipedream for many.

As for saving for retirement? Forget it. A study from the FCA found that 15 million people aren’t saving for retirement. Even those who are, often aren’t saving enough. Lifetime ISAs are the Government’s way of changing the story.

Who can invest in Nutmeg’s Lifetime Stocks & Shares ISA?

Nutmeg’s lifetime ISA is open to anyone over the age of 40 and allows you to save up to £4,000 per year without paying tax on any future returns up to the age of 50. For every £4 you invest, the Government will top it up with a £1 bonus up to a maximum of £1,000. That’s potentially a huge amount of free government money every year.

Interest is gathering pace with a number of other providers including Hargreaves Lansdown, AJ Bell and Newcastle Building Society also offering their own products. However, investing in an ISA is not without its risks and returns can fall as well as rise.

What does Nutmeg Invest in?

Nutmeg Investment’s approach is to invest in Exchange Traded Funds (ETFs). These are more transparent and offer a lower cost and adopt a more conservative approach of tracking the market rather than trying to beat it. With no hidden fees, their approach is to be seen as offering the best value for money on the market.

Setting up is relatively easy. All you have to do is pay in a sum of between £100 and £4,000 to get started. For those who had given up hope of being able to save enough to get on the property ladder or retire comfortably, therefore, this does offer an attractive option. As with anything, though, it pays to check the terms and to make sure this is the best option for your circumstances.

Compare Nutmeg to other stocks and share ISA accounts here

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