It’s back – Get up to 80,000 Avios when you open an ISA or SIPP via Nutmeg

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This is an advertisement for Nutmeg Saving and Investment Limited (“Nutmeg”). Nutmeg has agreed to pay the publisher an award for new customers acquired via the promotion of its services on this site.  Head for Points is a journalistic website. Nothing here should be construed as financial advice, and it is your own responsibility to ensure that any product is right for your circumstances. Recommendations are based primarily on the ability to earn miles and points.  Robert Burgess, trading as Head for Points, is regulated and authorised by the Financial Conduct Authority

With the end of the tax year approaching, wealth management group Nutmeg has brought back its generous Avios offer for opening a SIPP, general investment account or ISA.

For every £1 invested you will receive one Avios, up to a maximum of 80,000 Avios, when you open an account with Nutmeg before 9th April 2018.

Full details are on the Nutmeg website here.

What is Nutmeg?

As I wrote back in December, when this offer last ran, Nutmeg is an innovative online wealth management service which offers intelligent investment portfolios to anybody with just £500 to invest, with additional monthly contributions of at least £100.

Your money will be invested in what the company calls a robust, diversified portfolio that spreads risk across asset classes, geographies and industries. YourMoney voted Nutmeg the best online Stocks and Shares ISA provider for 2015, 2016 and 2017.  The company now has over £1 billion of assets under management and over 50,000 investors.

How much do I need to invest?

You can open an account with the minimum contribution for an ISA of just £500 as long as you make additional monthly contributions by direct debit of at least £100. You can also make an initial lump sum contribution of £5,000 or more with no direct debit contributions required.

For those opening a pension the minimum is £5,000 with no direct debit contribution required.

What is the maximum I can invest?

SIPP:  for a pension, Nutmeg will award one Avios point per £1 on initial investments up to £80,000. You can invest more but the Avios reward is capped at 80,000 points.

ISA:  the maximum you are allowed to invest in an ISA this tax year is £20,000. You can invest more but anything you commit beyond £20,000 will be placed in a general investment account.

Please note that Avios points are not awarded for customers opening a Lifetime ISA.

The ISA limit for 2018/19 will be £20,000.  If you have already opened an ISA with someone else for 2017/18, you can still take advantage of this offer by jumping in quickly on 6th April when the new tax year starts.

This offer is valid for invested accounts opened and funded before 8th April 2018.

How many Avios will I receive?

You will receive one Avios point per £1 invested.

However, it is important to note that the offer is only open to new Nutmeg customers. A ‘new customer’ is defined as someone who has not previously invested with Nutmeg.

you receive Avios based on your INITIAL deposit only – if you deposit £20,000 in an ISA today and another £20,000 on 6th April for the new 2018/19 year, you will only receive 20,000 Avios

the offer is only open to new Nutmeg customers

When do I receive my Avios?

Your bonus can be credited to either an avios.com or British Airways Executive Club account. You will receive your Avios within 45 days of making your initial investment.

If you make a withdrawal or close your Nutmeg account within 18 months, Nutmeg reserves the right to withdraw approximately 1p per Avios awarded from the closing balance before returning funds.  The exact amounts are listed in the terms and conditions.

How do I apply?

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, as with all investing, that your capital is at risk. The value of your portfolio with Nutmeg can go down as well as up and you may get back less than you invest. ISA and pension rules apply.

(Want to earn more Avios?  Click here to visit our home page for the latest articles on earning and spending your Avios points and click here to see how to earn more Avios from current offers and promotions.)

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Comments

  1. Just to add, read closely what StewartR has posted, take the time to research your investment. All you need to do is Google ‘best performing funds over 10 years’, compare that with the returns offered by Nutmeg.

    I am 4 months into investing in a stocks and shares ISA, my portfolio is up 8%, the best performing fund is up 16% on average (monthly contributions lower the overall average growth, the first investment is up 20%) while the poor performers are up about 2%, 4 months in and one stock market ‘crash’ which is now long forgotten. But the aim of this isn’t short term gain, its long term compounded growth and saving towards a retirement pot.

    • Great post – and thanks to everyone for considering this so carefully and for such great advice/opinions

    • Past performance is no guide to future performance. In fact, I expect negative correlation because bond funds will have seen huge gains over 10 years but as soon as interest rates rise bond prices will automatically fall so that the yields keep in track.

    • My point, similar to other comments, is that people should do a like for like comparison between self-investing (on a platform such as Cavendish) and using Nutmeg. Measuring the return versus a high interest savings account may not be a good measure given your cash is at risk and other ISA funds are doing much better in the current bear market. My own experience is based on funds in various sectors and not bonds. Everyone is expecting a fall in the markets, and how will a Nutmeg ISA perform in such an event where previously in a bull market it was returning just 2 – 4%. Also, as others have said, a lot us of spend more time researching hotel rooms and not investments where our cash is at risk.

  2. luckyjim says:

    I thought there was a problem with my browser when I saw this article pinned to top of the page. It seems this is being actively promoted regardless of the fact it is an awful deal and readers could end up losing thousands for the sake of a few Avios.

    It should at least be made clear that this is, in effect, an advertisment and not a regular HfP article.

    Very dissapointing.

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