As a long-time professional freelance writer, there was never any risk I would retire wealthy. Now at the age of 67, I find myself living off my savings and trying to make smart investment decisions to stretch my funds further. That's why I was intrigued to learn about Nutmeg, the UK's first online discretionary investment management firm.
Founded in 2011, Nutmeg offers a simple fee structure and automated portfolio management for a wide range of account types. It's an ideal option for UK investors who want to invest without the hassle of managing their portfolio themselves.
Nutmeg's partnership with JP Morgan's robo-investment platform has made it even more accessible to investors. The new app's "Save & Invest" feature, which currently includes Chase's savings account and roundups, also has a tile dedicated to Nutmeg.
Investing was hot earlier in the Covid-19 pandemic, as stock markets boomed, retail investing apps gained popularity, meme stocks went viral, and cryptocurrency soared. But as the pandemic continues, investors are looking for more stable options. That's where Nutmeg comes in.
Nutmeg's investment options include stocks, bonds, exchange-traded funds (ETFs), and more. The platform's algorithm uses your investment goals, risk tolerance, and time horizon to create a diversified portfolio that's best suited to your needs.
Nutmeg's fees are straightforward and transparent. The platform charges an annual management fee of 0.75% for investments up to £100,000, and fees decrease as your account balance grows. There are no hidden fees, trading fees, or transaction fees.
US giant JPMorgan's takeover of Nutmeg last year was a landmark moment for the investing sector. The acquisition allowed JP Morgan to expand its offerings to retail investors and tap into Nutmeg's expertise in automated investment management.
Former Nutmeg chief investment officer and "30 Index" winner Shaun Port has also joined JP Morgan as a managing director. His exact role at JP Morgan is yet to be announced, but his experience at Nutmeg is sure to be a valuable asset for the investment giant.
So, is Nutmeg the right investment platform for you? That depends on your individual needs and goals. Nutmeg is best suited for UK investors who want a hands-off approach to investing. The platform's automated portfolio management and simple fee structure make it easy to get started.
If you're interested in learning more about Nutmeg, check out our detailed Nutmeg review. We cover everything from fees and investment options to customer service and user experience. With our guide, you can make an informed decision about whether Nutmeg is the right investment platform for you.