Nutmeg Support (2024)

FAQs

Is Nutmeg fully managed worth it? ›

Nutmeg is a good digital wealth manager. Their experts will handle everything for you. However, the investment track record isn't the best, and they're one of the most expensive. Plus, questionable socially responsible options.

The value of your investments can go up as well as down

This means that if the bank goes bust, you will get back up to £85,000 of your money. And if the bank remains solvent, there is no danger that you might get back less than you put in.

The team has also created Socially Responsible Investment options for those who want their money to back their values. Now part of US giant JP Morgan this adds strength and credibility – but does make the experience feel a lot more bland and corporate than its earlier years. Performance typically decent. Good app.

Depending on when you make the request, withdrawals typically take 3-7 business days, but can in some instances take longer. This means the value of your investments may change during this period, and we can't guarantee that you will receive the exact amount requested.

Vanguard stands out for its low-cost, DIY investing approach with a wide array of funds, which is ideal for independent and cost-conscious investors. In contrast, Nutmeg offers personalised robo-adviser-managed portfolios, catering to those seeking convenience and tailored investment strategies.

In 2022, Nutmeg 5 delivered average annual returns of -13% vs Moneyfarm 4 delivering -9.1%. Performance in 2021 was Nutmeg at 7.5% vs Moneyfarm at 8.8%. With both firms you'll pay a management fee based on the total value of your investments, with Nutmeg slightly more expensive on portfolios of £10k to £100k.

Nutmeg is required to comply with the rules of the Financial Conduct Authority (“FCA”) which, in short, require that all our customers' assets are held securely and separately from Nutmeg's assets. Nutmeg has processes and controls in operation which ensure these rules are followed.

The company was purchased by JP Morgan for £700m in June 2021.

If you withdraw from a Lifetime ISA for any other reason, you will be charged a 25% government penalty on the amount you withdraw.

This means that your investments are protected in the unlikely event that either Nutmeg or State Street are declared bankrupt. Nutmeg is also covered by the Financial Services Compensation Scheme, which means you may be entitled to compensation if we cannot meet our obligations.

Can I close my Nutmeg account? ›

If you want to maintain the ISA status of your money you can request an ISA transfer out to another provider. Once this is done, send us a Nutmail with the request to close your account.

The Fixed Allocation portfolios are automatically rebalanced when a specific trigger point is reached, while the Fully Managed, Smart Alpha portfolios, Socially Responsible portfolios and Thematic portfolios are rebalanced at the investment team's discretion.

Performance: Nutmeg has performed better for the last 5 years on their medium and high-risk portfolios. However, this changes for cautious investors, who would have seen slightly better returns at Wealthify.

Dividends generated from these ETFs are re-invested back in to your portfolio and are subject to income tax.

Interest rate: 2.5% gross. Frequency: Interest is paid quarterly into the pot in which it was accrued.

Unlike ground nutmeg, this variety, lasts indefinitely as long as its stored properly. What really distinguishes whole nutmeg from its ground counterpart is the potent flavor. Whole nutmeg is stronger tasting and has considerably more flavor.

Is there ongoing management? Yes. Our team of investment experts will monitor your portfolio for you. This means making strategic adjustments to the mix of investments based on news, data and analysis, and rebalancing when necessary, to always ensure you remain aligned to your long-term objectives.

Although it's more commonly used for its flavor than its health benefits, nutmeg contains an impressive array of powerful compounds that may help prevent disease and promote your overall health.