Nutmeg Customer Reviews
Leave a review and tell us what you think to help others make more informed financial decisions.
Asa Larsson @ 04/29/2019 10:15
If you want better returns than your current account interest, but don’t want to waste much time monitoring the markets and your investments, Nutmeg is easy and quick to use and has so far delivered for me. I like their investment ethos.
G Lummis @ 04/29/2019 10:05
Super easy to use platform even for me!! Love the ease with which I can manage my funds and understand the non jargon. Emails worth getting too as they are written in plain English. Great company and customer service. Highly recommend.
amy @ 04/29/2019 09:46
What an easy process to apply. No jargon, interface was clear and it’s super easy to manage in the app if you want to change anything about what you invest (from the type to the risk and the amount, all easy to navigate.
Si @ 04/29/2019 09:36
Brilliantly transparent and easy-to-use platform giving you all the information you need to model and choose your investments independently, ahead of the game with socially responsible investing, always sharing knowledge and research to make customers more independent, always innovating, great communications and very open team, no “heavy sell” of any product or service – seem genuine
Julia Fourey-Jones @ 04/29/2019 09:18
Simple and intuitive to use, fast & helpful customer service, reasonable fees and overall very good product. I have made significantly more money from using this platform than I would have done using high-interest savings accounts
Saijie Sim @ 04/28/2019 10:11
The Nutmeg platform presents the information in a clear and easy to understand manner. This is very much appreciated and jargon is kept to the minimum. Their customer service is very quick and questions are easily resolved. The monthly video and email updates keep their customers informed on the rationale for their investment strategy. The ability to also chose a more positive environmental, social, governance (ESG) approach to investments makes them stand out from the market.
Online Platform: 5/5
Customer Service: 5/5
Fees & Pricing: 4/5
Sheila Bunnett @ 04/28/2019 10:10
This is the first time I have tried this type of saving and have been pleased with all aspects of service
Online Platform: 5/5
Customer Service: 5/5
Fees & Pricing: 4/5
Matthew @ 04/28/2019 09:44
Truly appreciate the transparency and simplicity of nutmeg. Opened some portfolios up and they are doing great. All managed in a brilliant way and earning me money even only after a short period of time! Crazy good company. Thank you. Appreciate all you do for me!
Online Platform: 5/5
Customer Service: 5/5
Fees & Pricing: 4.5/5
Matthew @ 04/28/2019 09:42
O accepted the social responsible investing as this suits me the prices are a little higher but very reasonable! All managed so I don’t have to constantly manage my portfolios. Have earned since starting which anyone wants and it’s only been a short period of time. Thanks guys. Truly appreciate it.
Online Platform: 5/5
Customer Service: 5/5
Fees & Pricing: 4.5/5
R Hewitt @ 04/28/2019 09:28
Simple to use
Online Platform: 5/5
Customer Service: 5/5
Fees & Pricing: 5/5
chris @ 04/28/2019 09:25
Nutmegs app is simple to use with the right amount information to the front but with the ability to drill down for more detail when required .
In addition a monthly update on investment plans and economic impact globally is given in a blog from the company.
Online Platform: 5/5
Customer Service: 5/5
Fees & Pricing: 5/5
Chi wan @ 04/28/2019 09:11
Nutmeg was the choice I picked to carry out my investments and it a was a good choice I made.
Online platform/app – is very easy to understand and work around with. Even with me being all new to this I could understand how to setup.
Customer service – very well mannered and extremely helpful. I had a problem with transferring and they had got back to me with the hour.
Fee and pricing – comparing to all the other competitors nutmeg are much lower.
Online Platform: 5/5
Customer Service: 5/5
Fees & Pricing: 5/5
Jingyue @ 04/28/2019 09:03
The nutmeg platform is easy to use. For everyday money management, it is convenient. I like the user friendly set-up, it is clear how to choose different settings and tailor it to my needs. The fees are reasonable for fixed management. I can select different risk levels and change it when I need. I am satisfied with their customer services as well. Overall, nutmeg is a very good investment platform.
Online Platform: 5/5
Customer Service: 5/5
Fees & Pricing: 4/5
Joel @ 04/28/2019 08:58
Nutmeg has a great app and website, it is easy to choose what you want and to find the best investment strategy for you.
Online Platform: 5/5
Customer Service: 5/5
Fees & Pricing: 4/5
Ajeje @ 04/28/2019 08:57
Extremely easy to setup and manage
Online Platform: 5/5
Customer Service: 5/5
Fees & Pricing: 5/5
Katherine Mann @ 04/28/2019 08:51
I’ve been a Nutmeg customer for around two years. I consolidated some old workplace pensions with them and also have an ISA with them. I like the fact I can split my ISA allowance into multiple pots – I have an socially responsible pot and a fully managed pot. It’s reassuring to know that someone else is looking after my investments so I don’t have to worry about them. I don’t log in to regularly, but when I do I can see exactly how each pot is performing and what I’m paying in fees.
Online Platform: 5/5
Customer Service: 5/5
Fees & Pricing: 4/5
J mc co @ 04/28/2019 08:49
Easy app to use. Check lodge and review in an instant
Online Platform: 5/5
Customer Service: 5/5
Fees & Pricing: 4/5
E Metcalfe @ 04/28/2019 08:48
Easy to use, no jargon, you are kept well informed, and the website is very easy to navigate and understand.
Also perform as well if not better than a lot of other sites.
Online Platform: 5/5
Customer Service: 5/5
Fees & Pricing: 4/5
Jessica @ 04/28/2019 08:42
The platform is easy to use for a beginner. It is easy to see how much interest you are earning.
Online Platform: 5/5
Customer Service: 4/5
Fees & Pricing: 4/5
Vito @ 04/28/2019 08:40
I’ve been using Nutmeg for over 6 months now. I’m really happy with how user-friendly and easy to use their app is. Their customer support team were swift in their responses and made sure the matter was addressed properly. What I also really appreciate is their email updates which consist not only of their view of the market/stocks/economy outlook, but also keeps me informed about tax planning and other relevant matters to me. I would most definitely recommend this platform.
Online Platform: 5/5
Customer Service: 5/5
Fees & Pricing: 5/5
Capital at risk. Tax treatment depends on your individual circumstances and may change in the future.
Expert Nutmeg Review
✔️Approved by Nutmeg (11 September 2023)
Because Nutmeg is no longer a disruptive start-up and is now owned by a massive financial institution with a compliance department larger than the investment team (maybe, I haven’t checked) every word we write needs to be approved by them before we publish it. Thankfully, Nutmeg is a long-term investment platform and nothing really changes much other than the odd bit of portfolio allocation.
On the plus side though the FCA has not insisted on customer reviews being approved by a regulated person yet, so do us a favour and tell other people what you like or dislike about Nutmeg in the customer reviews section.
Nutmeg Review
Name: Nutmeg
Description: Nutmeg were among the first digital wealth managers set up in the UK, known as “robo-advisors”. Despite the term robo-advisors being used, it is an investment team that makes the investment decisions. The term robo-advisors refers more to taking the process of building a diverse portfolio automatically online.
Capital at risk. Tax treatment depends on your individual circumstances and may change in the future.
Is Nutmeg any good for investing?
Yes, Nutmeg is very easy and low-cost way to invest in a range of diverse pre-made portfolios created by experts and are part of J.P. Morgan.
- Investments: 5 investment styles are made up of 34 individual portfolios
- Account types: GIA, ISA, Pension, JISA, LISA
- Management fee: 0.75% to 0.45%
Fees: Nutmeg charge 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 manager of around 0.2% and the market spread on buying and selling portfolios is currently between 0.04% and 0.09%. More information on fees and products can be found here.
Pros
- Great for beginners
- Risk-based funds
- Socially Responsible Portfolios
Cons
- High £500 minimum investment
- 0.75%* account fee higher than Wealthify
- Cannot invest in individual shares
-
Pricing
(4)
-
Market Access
(3.5)
-
Online Platform
(5)
-
Customer Service
(5)
-
Research & Analysis
(3.5)
Overall
4.2It’s pretty hard to write a review of Nutmeg, because you probably already know what they do and you know they do it well because we awarded them ‘Best Robo-Advisor’ and ‘Best Private Pension” in our 2023 Good Money Guide awards. So I haven’t – I’ve taken poetic inspiration from a digital source and improved it. Just like how Nutmeg is a robo-advisor, but is actually a digital wealth manager run by humans who use automation to streamline the process.
I’ve followed Nutmeg since it’s inception, when it blew the cobwebs away from the fuddy-duddy wealth management industry and along with Wise can be credited as being one of the most influential and disruptive companies to help make finance more accessible over the last two decades. I never got the chance to interview Nutmeg’s founder, Nick (as I have interviewed most other investment platform CEO’s and founders), who sadly died after Nutmeg was acquired by J.P Morgan for $700m in 2022. He was 43, I’m 43.
If you want to know if you should invest with Nutmeg, my answer is an invariable yes, because the sooner you start investing the harder your money will work for you. If you need more convincing, it’s not just me that thinks so, even John Lewis Finance has entrusted them with the trust of their customers…
Capital at risk. Tax treatment depends on your individual circumstances and may change in the future.
Capital at risk. Tax treatment depends on your individual circumstances and may change in the future.
Ode to Nutmeg
Oh Nutmeg, a pioneering robo-advisor so bold,
With algorithms and clever humans untold.
In the realm of finance, they’ve carved a way,
To guide investors through the stockmarket’s sway.
With prudence and precision, their portfolios dance,
Crafting alpha and beta with mathematical romance.
They seek diversification, the investor’s golden art,
To shield your wealth, your retirement, so start.
It’s a robo-army, an army of digital wealth,
They work day and night, with unyielding stealth.
Analyzing data, scanning the trends,
In the vast sea of investments, making regular amends.
Oh, Nutmeg, this conductor of your fiscal fate,
Trust in their prowess, and they will guide you straight.
Through bull and bear markets, they’ve seen it all,
Shielding your portfolios from potential downfall.
With a sprinkle of risk, and a dash of return,
They balance the scales, making your money earn.
Rebalancing deftly, with nimble grace,
They keep you on track, in this financial race.
Oh, Nutmeg, the compass of our financial quest,
The fees are fair, sometimes less than the rest.
Low-cost and transparent, keeping costs tight,
With no hidden exit fees, management fees are light.
An intuitive platform, a user’s delight,
Bringing simplicity with strict compliance oversight.
From novices to veterans, they make investing a cinch,
Making investing accessible, not just for the rich.
Oh, Nutmeg, the robo advisor of our dreams,
You’ve revolutionised investing it seems.
With Hungerford’s influence in your hearts,
We commend your service, and thanks for playing your part.
Capital at risk. Tax treatment depends on your individual circumstances and may change in the future.
Nutmeg Awards
- Best robo-advisor 2023
- Best private pension 2023
- Best lifetime ISA 2022
Capital at risk. Tax treatment depends on your individual circumstances and may change in the future.
Nutmeg Facts & Figures
| ⬜ Public Company | ✔️ (owned by J.P. Morgan) |
| 👉 Number Active Clients | 200,000+ |
| 💰 Minimum Deposit | £500 |
| 💸 Client Funds | £4.5 billion+ |
| 📅 Founded | 2011 |
Account Costs | |
| ➡️ Investment Account | 0.45% – 0.75% |
| ➡️ SIPP | 0.45% – 0.75% (managed pension) |
| ➡️ Stocks & Shares ISA | 0.45% – 0.75% |
| ➡️ Junior ISA | 0.45% – 0.75% |
| ➡️ Lifetime ISA | 0.45% – 0.75% |
Dealing Costs | |
| ➡️ UK Shares | ❌ (but they are included in their managed portfolios) |
| ➡️ US Stocks | ❌ (but they are included in their managed portfolios) |
| ➡️ ETFs | ❌ (but they are included in their managed portfolios) |
| ➡️ Bonds | ❌ (but they are included in their managed portfolios) |
| ➡️ Funds | ❌ (but they are included in their managed portfolios) |
Capital at risk. Tax treatment depends on your individual circumstances and may change in the future.
Should You Go For A Nutmeg ISA or GIA?
If you have already opened an ISA this year and used your allowance you should open a Nutmeg GIA. But, if you don’t already have one a ISA should be your first investing account as you do not have to pay capital gains tax on the first £20k you invest in it each year.
- Investments: Pre-made portfolios
- Minimum deposit: £500
- Account types: GIA, ISA, Pension, JISA, LISA
- Management fee: 0.75%-0.45%
- Dealing fee: £0
Nutmeg Fees
Nutmeg charge 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 additional charge by the investment fund managers of around 0.2%. The market spread on buying and selling portfolios is currently between 0.04% and 0.09%. More information on fees and products can be found here.
Capital at risk. Tax treatment depends on your individual circumstances and may change in the future.
What is Nutmeg’s Lifetime Stocks & Shares ISA?
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.
- Want to see the best Lifetime ISA accounts? Compare Lifetime ISAs here.
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 a Nutmeg LISA is relatively easy. All you have to do is pay 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.
We rate Nutmeg’s Lifetime ISA as very good as it is a simple and low-cost way to invest in managed portfolios and take advantage of the government’s 25% top-up bonus.
- Investments: Pre-made portfolios
- Minimum deposit: £100
- LISA management fees: 0.45% – 0.75%
- LISA share charges: N/A
Nutmeg LISA 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%.
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.
What Is The Nutmeg App Used For And Is It Any Good?
You can use Nutmeg’s app to invest in a GIA, ISA or pension and track the performance of your portfolios. However, you will be able to do more research and find more information to get a better understanding of the risk and products if you use Nutmeg on a laptop or desktop computer.
Capital at risk. Tax treatment depends on your individual circumstances and may change in the future.
Is Nutmeg Good For Junior ISA Investing?
Yes, Nutmeg is a very simple way for you to invest for your children in a Junior ISA for when they turn 18. Nutmeg’s JISA portfolios are linked to the stock markets which typically outperform cash interest rates and inflation. But the stock market can be choppy and sometimes goes down, so if you don’t want to take any risk a cash ISA like Hargreaves Lansdown Active Savings may be more appropriate.
Nutmeg’s Junior ISA is good for parents who do not need such a wide range of investment options from platforms like Hargreaves Lansdown, Interactive Investor and AJ Bell as you cannot buy individual stocks or funds. Instead, you invest in pre-made portfolios built up from low-cost ETFs.
This is a great way to build a cheap and diverse investment ISA for your children for investors who are willing to take on some level of risk. There are no dealing costs, and the fully managed account costs 0.75% per year.
Capital at risk. Tax treatment depends on your individual circumstances and may change in the future.
Nutmeg Thematic Portfolios
In October 2023 Nutmeg added a new thematic portfolio style to its range of products.
The new Thematic Portfolios, from the investment manager, will allow Nutmeg clients to put their money directly into the trends and themes that will shape our future.
Nutmeg will offer investors access to portfolios encompassing three broad-brush themes, which are, Technological Innovation, Resource Transformation and the Evolving Consumer.
These new thematic portfolios are designed as long-term investing strategies, that will invest in companies that are likely to benefit from trends, such as the growth and adoption of artificial intelligence, the transformation to renewable energy sources, and away from fossil fuels and the changing demographics of our populations.
Thematic Portfolios Selection
Nutmeg will use its research and technological capabilities to select and manage the underlying investments, in these thematic portfolios. While at the same time diversifying their exposure and avoiding risk concentration.
Clients that open a thematic portfolio will see their investments “tilted” towards the theme of their choice, the tilt will be as large as 20% of their portfolio’s equity exposure.
The portfolio will be actively managed by Nutmeg on the client’s behalf, and subject to an annual review.
Added Risk
Will all Nutmeg clients be able to access the Thematic Portfolios?
No, the new Thematic Portfolios won’t be available to all Nutmeg customers. Only those who are comfortable with the firm’s risk level 5 will be able to invest in thematic funds.
Thanks to their high level of equity exposure, low level of bond exposure, and the FX risk involved in investing overseas markets, and in particular in the US Dollar.
Nutmeg’s lower risk-rated portfolios, which run from 1 to 4, typically have higher rates of bond ownership and seek to minimise the FX exposure in their portfolios.
The new Thematic Portfolios are available for ISA and Junior ISA holders, with a minimum investment of £500 and £100 respectively and Nutmeg will charge 0.75% per annum management fee.
Interestingly the new portfolios won’t incorporate any ESG considerations, though it’s very likely there will be some crossover, given the nature of the broad brush themes themselves.
Nutmeg’s new Thematic Portfolios seem like a good way to gain diversified exposure to trends, that will undoubtedly play a big part in all our futures.
Retail investors, who can accept higher rates of equity exposure, may well prefer to use Nutmeg’s investment and money management expertise, to build and run their portfolios for them.
Rather than adopting a DIY approach, using their own ETF and stock selections, and to be honest fees of 0.75% per annum don’t sound exorbitant for a discretionarily managed service.
Capital at risk. Tax treatment depends on your individual circumstances and may change in the future.
Is Nutmeg Good For ISA Investing?
Yes, I think that Nutmeg has transformed the way people invest in ISAs for good. Nutmeg were the first provider to make investing in a stocks and shares ISA easy online and remain one of the best ways to put your money to work in a tax-free wrapper.
Nutmeg offers off-the-shelf portfolios across its ISA range to suit five different investment styles. Investors can choose between four different portfolios, including fully managed, Smart Alpha powered by J.P.Morgan Asset Management, socially responsible and fixed allocation.
Nutmeg’s ISA lets you invest in pre-made portfolios with a minimum deposit as low as £500 with discounted account fees of 0.45%
Nutmeg ISA Fees: Nutmeg charge 0.75% for their managed ISA portfolios which drops to 0.35% for balances over £100k. For their fixed allocation ISA portfolios, they charge 0.45% dropping to 0.25% for balances over £100k.
For all portfolios, there is an additional charge by the investment fund managers of around 0.2% and the market spread on buying and selling portfolios is currently between 0.04% and 0.09%.
More information on products and charges can be found here.
Capital at risk. Tax treatment depends on your individual circumstances and may change in the future.
Nutmeg Pension Review?
It’s safe to invest in a pension with Nutmeg as they are regulated by the FCA an owned by J.P. Morgan (one of the largest banks in the world). However, there is risk with all investing and all pensions are linked to the stock market so there is a risk that at some point your investments could be worth less than when you started.
Nutmeg has created five pension styles (portfolios) which have been built by experts and use exchange-traded funds to diversify across stocks, bonds, industries, and countries. This also importantly keeps costs down.
Nutmeg pensions cost 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 additional charge by the investment fund managers of around 0.2% and the market spread on buying and selling portfolios is currently between 0.04% and 0.09%. More information on fees and products can be found here.
Capital at risk. Tax treatment depends on your individual circumstances and may change in the future.
Capital at risk. Tax treatment depends on your individual circumstances and may change in the future.
Nutmeg FAQ:
Yes, Nutmeg is regulated by the FCA which means that your funds may be protected (up to a point) by the FSCS. However, it’s important to note that when you invest the value of your portfolio can go up as well as down.
Using a fully managed investment account is worth it if you are not confident in choosing specifically what you want to invest in for your future. By using a managed platform like Nutmeg, they regularly adjust your portfolio to balance risk.
Nutmeg’s fixed allocation fees are some of the lowest in the industry and cheaper than Wealthify and Moneyfarm, However, their other portfolios are slightly higher. You can compare robo-advisor fees here.
Nutmeg invest in ETFs to build globally diversified portfolios, these are tailored to your goals and risk profile, and invested in exchange traded funds (ETFs). ETFs are a great way to invest as they follow the stock market and give you exposure to a wise range of investments without having to buy each one. You can read more in our guide to ETFs.
Nutmeg Performance
| Nutmeg managed portfolios | 2020 performance | 2019 performance |
| 1 | 0.80% | 1.20% |
| 2 | 3.00% | 5.10% |
| 3 | 4.40% | 7.40% |
| 4 | 5.10% | 8.90% |
| 5 | 6.20% | 11.10% |
| 6 | 6.10% | 12.70% |
| 7 | 6% | 15% |
| 8 | 6% | 17% |
| 9 | 6.80% | 18.30% |
| 10 | 7.10% | 18.70% |
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
You can contact Richard at richard@goodmoneyguide.com
