Wealth management group Nutmeg has brought back its generous Avios offer, just two months after the previous offer closed. You will receive up to 10,000 Avios points when you open a Stocks & Shares ISA or a pension with Nutmeg before 19th February 2017.
Full details can be found on the Nutmeg website here.
As I wrote back in November, Nutmeg is an innovative online wealth management service which offers ‘intelligent’ investment portfolios to anybody with £500 or more to invest. If you are using St James’s Place, Hargreaves Lansdown etc then the low Nutmeg fee structure should be of interest.
Using exchange-traded funds, which keep your costs to a minimum, Nutmeg claims to offer no fixed fees, no transaction fees, no trading or commission fees and no exit fees. You only pay your annual management fee.
Your money will be invested in “a robust, diversified portfolio that spreads risk across asset classes, geographies and industries.” Your Money has voted Nutmeg the ‘best online Stocks and Shares ISA provider’ for two years in a row.
How much do I need to invest?
The minimum contribution is £500 with additional monthly contributions of £100. This will earn you a bonus of 5,000 Avios points.
If you make an initial lump sum contribution of £5,000 or more, you will receive a bonus of 10,000 Avios.
The maximum you are allowed to invest in an ISA in the current tax year is £15,240. Anything you commit beyond that will be placed in a general investment account.
This offer is valid for invested accounts opened by the 19th February 2017. Your bonus can be credited to either an avios.com or British Airways Executive Club account and you will receive your Avios within 45 days of making your initial investment.
Here is the small print if you close your account:
If a customer withdraws their account balance within 12 months of opening their account, in the event of 5000 Avios being issued, Nutmeg reserves the right to withdraw £50 from the closing balance before returning funds. In the event of 10,000 Avios being issued, Nutmeg reserves the right to withdraw £100 from the closing balance before returning funds.
You need to sign up and invest via this special landing page to earn Avios. Applications via the standard Nutmeg home page will not earn any points.
Remember that your capital is at risk. The value of your investment and income you get from it can go down as well as up. As with any investment, there is a chance you will get back less than you originally invested. ISA and pension rules apply.