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It’s back, bigger: Get up to 150,000 Avios when you open an ISA, SIPP or General Investment Account with Nutmeg

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Advertorial

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, Nutmeg has improved on its generous Avios offer for opening a pension, ISA or General Investment Account.

Invest between £500 and £19,999 and for every £1 invested you will receive one Avios

Invest between £20,000 and £100,000 and you will receive 1.5 Avios for every £1 invested

This means that with a £100,000 investment you will receive 150,000 Avios!

This Nutmeg offer runs until 7th April 2019. Full details are here.  This means that you can invest for either this tax year or the new one.

What is Nutmeg?

As I wrote back in October, when a similar 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 £1.5 billion of assets under management and over 60,000 investors.

Nutmeg Avios offer

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 £500 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, 100% cash ISAs or 100% cash GIAs.

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.”

Nutmeg Avios offer

How many Avios will I receive?

You will receive one Avios per £1 invested in a pension, ISA or GIA up to an investment of £19,999.

Invest between £20,000 and £100,000 and you will receive 1.5 Avios per £1 invested.

For example if you invest £10,000 you will get 10,000 Avios.  If you invest £20,000 you will get 30,000 Avios An investment of £50,000 will earn 75,000 Avios.  £100,000 will earn you 150,000 Avios.  You can invest more but the Avios reward is capped at 150,000 points.

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 7th April 2019.

Any half Avios will be rounded up to the nearest full Avios!

When do I receive my Avios?

Your bonus will be credited to your 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 24 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.

(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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How to Upgrade With Avios - Avios Redemption University - Lesson 3

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Comments

  1. I put a small amount in Nutmeg 2 years ago, got my Avios really quickly and I am almost 7% up so not too bad so far.

  2. Sussex Bantam says:

    I say this every time this offer comes round BUT it always makes me uncomfortable when HfP promotes this deal. It makes me even more uncomfortable now Rob has declared he is actually getting paid for each investment we make.

    Investing this amount of money is a serious decision and people shouldn’t be swayed by the provision of Avios. Effectively you are getting a 1.5% discount on your investment which could easily be lost in fees or sub-optimal investments.

    I know Rob is completely up-front about the fact he earns commission but this just doesn’t feel like something HfP should be pushing without some critical comment.

    • ….. analysis I can’t really do because of my FCA licence. Recommending A over B is basically giving advice.

      • Sussex Bantam says:

        I understand that – I guess it is because we are so used to getting superb advice from HfP that it grates when you publish an advert without any comment.

      • Charlieface says:

        I think you should then put in a caveat that the reason you’re not analysing the costs/benefits is because of this, not because you think it’s a great product everyone should get.
        Must say I definitely appreciate the more prominent advertorial notice.

    • Frenske says:

      It is an Avios earning product it is logical that it should be mentioned on HfP. Nutmeg is a solid product and I am sure if otherwise Rob would not publish it. No-one knows what what is the guaranteed optimum investment product only in hindsight.

      • Sussex Bantam says:

        I’ve no issue with it being mentioned like all other options.

        However Rob will normally also guide on whether he thinks it is a good idea (don’t bother redeeming on long haul economy for example).

        For this, with such a large potential cost, to attract no critical comment when other much smaller items do is the area I don’t like

        • But that is essentially giving pensions advice which I am not authorised to give.

        • Nathan says:

          Really?
          I’m almost positive that I have read a great deal of informed critical comment on this website precisely and ONLY due to Rob running the promo PR puff piece. To put it another way, HfP’s running the ad allowed me more insight via the user commentary than did the poster advert on the train this morning

          And HfP trousers a nice fee to put toward running the website. I call that win win.

        • Agree with Nathan – if comments were switched off that might be one thing but there’s a good debate about the product here that will help inform folks.

  3. Johhy noadivce says:

    Looks like a nice, totally risk free earner, for someone.

  4. For £100k the total charges are 0.71% for fixed allocation service and 1.02% for fully managed service.
    Not the worst by far (hello St James Place), not the best.
    Fair to say that you are paying maybe £500 a year from what is easily achievable without a great deal of effort. So £1k (over 2 years) for 150,000 Avios.
    Who knows what the returns will be over 2 years

    Not for me – it’s just my personal view that investing on the basis of getting a modest freebie is frankly insane. If you have the time and energy to churn cards & collect points, surely you can look after your own finances.

    Buying a hoover, yes. Moving your pension ? No

    • Freddy says:

      Where would you recommend putting some investment money if you have no knowledge of investment markets, quite different to churning cards. Presumably people use nutmeg as it fairly cheap and dumbs the investment choices down

      • If you can follow HfP and learn the techniques for earning and burning points and status, then you can take the time to research investment products. If you’ll dedicate more time to getting a nicer seat at a lower price for a 8 hour flight than you would for your savings you’re bonkers.

        • +1
          Use your same skills and energy that you do on collecting points to invest your money, and you win both ways.
          With Nutmeg (&/or similar), you are probably going to gain Avios at the expense of optimum growth, and the outcome would be “sub-optimal” (as they say in Rob’s circles!).

        • Guilty. I’m officially bonkers.

      • Vanguard, low charges and some fully managed funds and a good mix overall. They only offer an ISA at the moment, their SIPP is coming shortly. You can’t go wrong with their Vanguard Life Strategy 80% in my view, over the last 5 years it’s returned 54%. I’m with HL for my SIPP but moving everything to Vanguard when their one opens up.

  5. Shame this is new customers only – was hoping for a chunky bonus to make a transfer into Nutmeg.

  6. Just buy TUI, VOD and IAG. Will be alot easier

  7. For the virgin 1 year account, if we assume you can get 2% on a 1 year savings product, if you have £25k in, then you are paying 1.25p per Virgin mile *.
    Not sure it makes sense for most people, makes more sense for additional rate taxpayers (0.69 per mile)

    * assumes higher rate tax payer and not utilising the £500 annual tax free interest allowance elsewhere.

    • Genghis says:

      Assuming your 1.25p is correct, isn’t it even more expensive than 1.25p for ARTPs given the grossing up by 100/55 vs 100/60?

      • I don’t think so *

        ATRP’s don’t get any tax free annual allowance for interest, so rather than earn a net £500 in interest from comparable product, they only earn a net £275.
        They give up less for the same miles.

        * I could be wrong though !

        • Genghis says:

          Actually, I thought the miles are earned after tax (i.e. the interest is earned and is then used to buy miles) so tax rate shouldn’t come into the price that the miles are purchased for? I may also be wrong!

  8. Jack The Lad says:

    What we do get:-
    “Any half Avios will be rounded up to the nearest full Avios!”

    What we don’t get is a ANY mention of the range of valuation that Nutmeg applies to the Avios when they claw them back if you don’t stay for the entire 24 months. Apparently, it was known to be >1p as this was remarked in the comments, yet not mentioned in the “advertorial”.

    • It is in the T&C’s – it is a fairly long chart which would have taken up most of the article!

  9. It’s interesting isn’t it that services like Nutmeg really have found that gap in the market for a certain type of investor. Try as I might, for example, I really wouldn’t have the foggiest idea of how to go about selecting individual funds or companies to invest in.

    Is there an equivalent website like HFP in the way it can take most readers from novice to fairly adept on all things Avios, but for the world of stocks, shares funds and finance?

    One obviously picks up from the comments section on this website that a lot of readers work in this field, but I really do think that there is a big bunch of people who feel shut out from that world, they try to work it out for themselves and quickly start to panic, drowning in an Information Overload not knowing what conclusions to draw from the thousands of resources that are out there. And as such they take a punt on services like Nutmeg even with little knowledge of which of their 3 investment types to choose.

    How do people learn about this stuff? Are there any ‘idiot’s guide – novice to non-novice’ type sites out there?

    • Jim, have a google search for monevator – it’s more a FIRA site (Financial Independence, Retire Early) but a useful starting place non the less

    • Hi Jim. I recommend “Which” for a good intro on investing basics. Their guides on what investing is, different types of investment products etc are free, with some additional comparisons of fund supermarkets and so on behind their paywall. Plus, they are a consumer-focused charity, so should be pretty impartial!

    • Mr Dee says:

      Well I think it takes a lot of knowledge about the businesses your investing in before you can make long term decisions as whether their business is viable and likely to be attractive to investor and increasing the stock prices.

      For this reason I would not specifically choose an offer just for the points signup bonus but would look at all options, I don’t know about Nutmeg portfolios performance but there are many other companies that offer good returns if they don’t.

      • Mr Dee says:

        Having found their performance page I think -7.1% last year for one of them sums up this deal.

        • Shoestring says:

          Last year was a negative year for many excellent funds, -7.1% might place this one in the top decile for similar based funds

        • Mr Dee says:

          Yes I guess that’s the problem being stuck in this type of fund, self trade is more suited for me

    • ankomonkey says:

      There’s Head For Pensioners, run by Nigel…

    • The Savage Squirrel says:

      Jim there are literally dozens of websites on this subject and many hundreds of books.

      A bit of time with google might be your friend.

      Investors Chronicle “how to get started in investing” is as good a place to start as any. For the purposes of today the page about the huge effect of variations in management charges on your final investment pot may put the relative importance of a few Avios into context.

      • Shoestring says:

        None of them give you the best lesson an investor can learn: if you’re relatively cautious (ie don’t want to risk everything on single/ limited number stock gambles), spread your investment money over about 10 different funds, exposed to different parts of the market.

        You won’t ever be some kind of investment genius but otoh you’ll win over time.

        • Doug M says:

          I like this approach. I’m all about charges. I like ETFs with low costs, track the 100, the 250, Euro Stox, Dividend, and some USA and or Asian. Overtime you do fine in my experience. Individual shares can be tricky.

        • The Savage Squirrel says:

          Actually Shoestring, that’s EXACTLY the advice a lot of them give!

        • This is exactly what I was doing for 5 years or so, running a review every three months but the result was very modest, not worth the effort tbh, it’s better give it to professionals and pay a small fee for their services

    • If you want a really simple starting point for savings/ pensions planning I would highly recommend monevator and the book Reset by David Sawyer. The book gives you an easy entry in to investing which then gives you time to build up your knowledge.

  10. My wife and I took advantage of this offer last year.

    It took over a year and dozens of emails and phonecalls to get the points credited to her BA Exec Club account.

    We did get them in the end but it shouldn’t have needed so much hassle.

    Be warned!

  11. That’s convinced me!

    To much hassle this one.

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