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LAST CALL: Get up to 100,000 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

This is a final reminder about Nutmeg‘s generous Avios offer for opening a pension, ISA or General Investment Account.

For every £1 invested you will receive one Avios, up to a maximum of 100,000 Avios, when you open an account with Nutmeg before Sunday 11th November 2018.

Full details are here.

What is Nutmeg?

As I wrote back in April, when this offer last ran, Nutmeg is an innovative online wealth management service that 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, 2017 and 2018.

The company now has over £1 billion of assets under management and over 60,000 investors.

How much do I need to invest?

You can open an account with the minimum contribution for an ISA or General Investment Account (GIA) 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?

The maximum you are allowed to invest in an ISA this tax year, which runs to 5th April 2019, 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 are not awarded for customers opening a Lifetime ISA.

Nutmeg Avios offer

Why should I invest with Nutmeg?

In their own words: “We take the best elements of a high-end investing service, strip out the complexity and cost, and provide it to you online.”

How many Avios will I receive?

You will receive one Avios per £1 invested in a pension, ISA or GIA. Nutmeg will award one Avios per £1 on initial investments of up to £100,000. You can invest more but the Avios reward is capped at 100,000 points.

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.  This offer is valid for invested accounts opened and funded before 11th November 2018.

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 the cash equivalent of the Avios points value awarded from the closing balance before returning funds.

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.

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Comments

  1. Frenzie says:

    One thing I would perhaps add that i had money (£40K) in Nutmeg for 2.5 years.

    2 different pots, one in risk 7, and one in risk 9.

    After 2.5 years I have made 2% gains. (Though at best of times it was at 7%)

    • iamfugly says:

      That is a very very poor return for a 2.5 year bull run. Investing in one of the top 5 funds would have netted at least double digits.

      • Frenzie says:

        Hence I am somewhat surprised that is heavily promoted on HFP.

        I appreciate that its an offer you get bonus avios from, however based on most recent track records even with the bonus avios it isn’t worth it.

        • This is not active management, it is ‘robo investing’ with virtually no fee. Whatever return you got is a function of how you wanted your money allocated – which you didn’t say in your original comment.

          What you do know from Nutmeg is that you get the actual growth in the underlying investments less a tiny fee.

          I was talking to my brother in law the other day who was moaning about the performance of his investments – I suggested the 2.2% fee he was paying to his wealth manager each year was probably the core function of that ….

        • Roger1* says:

          Frenzie, did you read the bit in italics in the introduction? It’s an AD, correctly described as such.

          I see ads in the newspapers I read, and even, golly gosh, in ever-reliable Channel Four News. I exercise my right to use or ignore them. No problem.

          If Rob’s business can earn a bit, I see no problem. I’m sure Rob’s advice would be to check whether it meets your needs, Avios not withstanding.

          Declaring my interest, my 2018-19 ISA is with Nutmeg. Notional increase in value to date is small, but hey, it’s tax-free and I am a few RTS better off than before.

        • Frenzie says:

          Rob always gives a balanced view on things.
          He does mention that investing is risky and your investment can go up and down.

          I am not blaming him actually, I am adding a sidenote that it is in fact not a great deal as their perfomance is poor and hope that he may chose not to advertise it in the future.

          Thats all.

  2. I really dislike it when companies offer absolutely no incentives to existing clients. Ultimately they promote annual switching, be it utilities or ISAs as in this case.

    • Roger1* says:

      I agree in principle. IMO the worst at this are the internet service providers.

      I would be happy to stay with my current ISP. To do so would mean a price increase for no logical (to me) reason. So I’ll have to join the renewal barndance. 🙁

    • + 1

  3. As a point of comparison, I’m an IFA and I charge 0.6% pa for ongoing (personalised) advice. Depending on fund selection, total ongoing charges could be comparable to Nutmeg if largely looking at passive options – and not necessarily that much more with actively managed funds in addition.

    Being based on the Kent coast, we have lower overheads than if we had an office in the City, but we still have a lot of clients that live/work in London

  4. I’d advise anyone to do a bit of research before investing w nutmeg. I invested 170k with them, and the last time I checked I’m actually backwards on the investment. Plus they’ve made a couple of fairly basic admin errors on my account. I need to place another investment pot before the end of the year, and I won’t be putting it with nutmeg.

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