BA Sale

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

Links on Head for Points may pay us an affiliate commission. A list of partners is here.

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.)

Reminder: Get exclusive benefits on luxury hotel bookings via HFP
How to Upgrade With Avios - Avios Redemption University - Lesson 3
Click here to join the 14,000 people on our email list and receive the latest Avios, miles and points news by 6am.

BA Sale
Amazon ad
About Head for Points

We help business and leisure travellers maximise their Avios, frequent flyer miles and hotel loyalty points. Visit every day for three new articles or sign up for our FREE emails via this page or the box to your right.

Comments

  1. Rob – can you have a word with them about running an exclusive HfP promotion for EXISTING customers. I quite like their products (have had a &S ISA with them for 3 years – on HfP advice! – and LISA for 2 years) and would like to be rewarded for loyalty. I got some Avios for signing up but would like to get some more for let’s say moving an existing ISA to them or for a topping up with a significant lump sum (like 1-3-5K) or something. Do you think it’s possible?

    • Shoestring says:

      Loyalty is for mugs these days.

      The ‘free’ Avios are an incentive to get you to join them for 24 months minimum.

      After 24 months, most people are too lazy to look around so stay with the original provider. There’s no point in offering an incentive to stay, as 90% of consumers will stay anyway through laziness.

      Ie you’d be giving away Avios to 100% of consumers, just to retain the 10%. Expensive.

      • This is exactly the point! That’s why I am talking about an _exclusive offer for HfP readers_. Many of them are ‘savvy’ enough to move funds away quickly, so both Nutmeg and loyal customers will benefit from this incentive, and it will not be costly for Nutmeg as only a handful of HfP-referred customers do stay with them. And Rob will benefit because he will receive guaranteed commission from that!

        • Freddy says:

          I’d be interested to know the % of hfp people still with them after the 24 months. I’d suspect a healthy majority would still be invested with them. Though I may be underestimating the readership here!

        • Alex W says:

          As someone else said, when I realised that Nutmeg were making more money out of my investment than I was, it was time to pull the plug.

  2. Jonathan Gillespie says:

    The terms and conditions of this offer state –

    This offer cannot be used:
    in conjunction with any other Nutmeg offer, or promotion; or
    to invest in a Nutmeg Lifetime ISA;
    multiple times for an individual new customer;
    to invest into a 100%-cash pot.

    Key term above is the “cannot be used multiple times for an individual new customer” so it isn’t possible to use this offer twice, i.e. to taking out an ISA before the end of this financial year and then again at the start of the next financial year.

    • Yes, that has always been in the rules for this offer. I find it a bit odd given they always run this offer at the end of the tax year. What I assume you would do is put £40k into an ISA, knowing they will have to put £20k into a General Investment Account – which on 6th April you can move into a new ISA. I am not guaranteeing that works though, do ask them.

  3. Victor says:

    My self-picked stocks and funds in an HL ISA are down 21% over the last 2.5 years.

    2.5 years is when I took out a Nutmeg ISA at risk level 7, it is up 9.1% in that same time.

    Not all self trades outperform the robo traders.

    • Exactly! Thank you very much fro this Victor. Can’t understand why some on this forum are advocating self-sufficiency with a rigour which even North Koreans might envy!

      • But self sufficiency doesn’t need to be as complicated as individual stock picking. It can be as simple as using a vanguard lifestrategy portfolio linked to your risk preference ie 80/20 equity/ bonds etc. The main ideas these days (backed up by many investment gurus, including warren buffet) is to track the markets with ETFs etc and keep fees as low as possible.

        • This is what I was doing – picking five funds with different exposure and from different providers, checked the best performers etc etc but it was time consuming and did not get me much in return. I would prefer to have a similar %% from a managed portfolio with a nice and user-friendly web interface, and save time for something else!

  4. The Vanguard SIPP is coming out in a few months, I’d rather wait for that.

  5. Rob what about talking to someone like Fidelity in the UK for points as they do this in the US. Sign up Bonus or transfer in Bonus etc.

  6. AndrewH says:

    Re Actually receiving the Avios from Nutmeg – in the comments , there are a few horror stories about waiting for avios when it should be within 45 days. Any other experiences ? Making an investment is one thing but tussling to get the avios is another. I found citibank a pain & inefficient so trying to avoid another tussle.

  7. SammyJ says:

    I’ve got a pension (not final salary) from a company I worked for about 15 years ago with a fairly small amount in it – I think £20k-ish. Is it possible to transfer this to Nutmeg to take advantage of the Avios deal? Obviously I’d need to look into it further re costs, risks etc, but it’s doing nothing where it is! Clearly I know nothing about pensions and investments!

    • Doug M says:

      You’d need to ask the provider of the existing pension what the terms are for transferring out. But try to think of the pension as something to fund later life, not the source of a few Avios now. The Avios are not free, Nutmeg have to buy them, so their charges will have to reflect that cost. You can’t give financial advice in the comments of a page like this, but what is far more important than any Avios is making the best use of that pension between now and retirement.
      If you have credit card spend you can pick up thousands of Avios really easily from Amex, and churning a few cards. The methods are repeated over and over in these comments.

      • SammyJ says:

        Thanks, I was meaning more in terms of whether the transfer would count for the bonus, rather than jumping in with a cash investment. Whatever I do with it, there’s no guarantee that it would be better in one scheme or another, so if there’s a guaranteed short term gain then I’d happily take that – the pension is pretty much worthless as it is, I have a proper separate works pension as well as a final salary scheme from previous employment which I wouldn’t mess with, but I just wondered if it’s an option worth looking into or whether it’s a complete non-starter, not looking for any financial advice beyond terms of the bonus requirements.

        • Genghis says:

          I’ve spent the weekend reading Reset by David Sawyer, recommended by one of the comments further up. I practice quite a bit of the stuff in there anyway but for me it provided a good framework on how to structure your life and your investments. Take a look. I’ve got some things I need to action from it.

        • Shoestring says:

          Yes, you could move money from your existing pension to Nutmeg’s SIPP. But not overnight. And yes, it would appear it would qualify for Avios on this offer.

          £20K would be a lot easier than over £30K, depending on pension type. But you can forget 2018-19. You’d need to get information on transferring criteria from the pension administrators.

        • SammyJ says:

          So I looked into it further, and all seems to be good. As long as the transfer deadline is in before the 5th April the Avios will be paid. The transfer itself took about 5 minutes online, and I got an email a couple of days later confirming that the Avios deal had registered. Just waiting for the balance to show in the Nutmeg account, it has already left the old provider.

  8. Thinking of moving my SIPP from Hargreaves Lansdown to these guys, but why does it force me to make a minimum cash contribution of GBP500 as well as the transfer? Not a problem, but I just want to check that I will get Avios for the full transfer not just the additional subscription!

Please click here to read our data protection policy before submitting your comment.