Based in London, Nutmeg offers a clear and straightforward approach to investing with a company ethos based on transparency. The company was the first, and now the largest, digital wealth manager in the UK with over 75,000 customers.
Stocks and Shares ISA
Nutmeg’s Stocks and Shares ISA is a tax-free savings account with no income tax or capital gains tax (CGT) to pay on any income or profits from your ISA investments. You can choose where your money is invested, with access to a large portfolio of expertly-managed investment funds. You can invest up to £20,000 a year and you must be over 18 and a UK resident to qualify.
Nutmeg’s Lifetime ISA is tax free account whereby you can contribute up to £4,000 per tax year and the government will give you a 25% bonus – that’s up to £1,000 every year. You can use your Lifetime ISA to buy your first home worth up to £450,000 or invest into it until you turn 50 and access it aged 60.
In either instance, you can withdraw your money, including the 25% bonus, tax-free. Withdrawing outside of these scenarios means you will incur a penalty, and you may end up getting less than you originally contributed. You can start this ISA from as little as £100. There are no exit fees and you will have the flexibility to make changes to your risk level and investment style as your situation changes.
Nutmeg’s Junior ISA (JISA or child ISA) is a tax-free account set up by a parent or guardian for children below 18. The parent or guardian will contribute to the account but only the child can access the money – and only after they turn 18.
Nutmeg’s in-house investment team have built a range of portfolios for our products and invest as per your chosen investment style. You can start a Junior ISA from as little as £100. There are no exit fees and you will have the flexibility to make changes to your risk level and investment style as your situation changes.
Nutmeg offer a range of related financial services including SIPPs, pensions, stocks, shares and general investment opportunities.
Nutmeg Financial Reviews and Ratings
Online reviews for Nutmeg are very good with customers pleased with the company’s fast response times, helpful jargon-free answers to queries, and the clear and easy-to-use platform interface.
- Specialist Stocks and Shares and Lifetime ISA products
- Excellent customer reviews
- Simple, jargon-free services and advice
- Quick easy online signup
- Transparent 24/7 access to your account
- A wide range of risk levels and investment portfolios
- Social responsibility focus
- Accounts are proactively managed by an experienced investment team
- Regulated by the Financial Conduct Authority and protected by the Financial Services Compensation Scheme
- A clear, simple, well-explained website
- Award-winning: Best Stocks & Shares ISA Provider 2019
- Some complaints regarding transfers out and the slow times this takes
- Some instances of poor customer service
- Some users find the UX of the dealing platform quite difficult
- Office and phone lines are not open at weekends
- A large website with a large volume of information to take in