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Get up to 150,000 Avios when you open an ISA, General Investment Account or Pension with 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

Nutmeg has brought back 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 13th October 2019. Full details are on their website here here.

Nutmeg Avios offer

What is Nutmeg?

Nutmeg promotes itself as an innovative online wealth management service that build sophisticated global investment portfolios for anybody with just £500 to invest. The strategy is that Nutmeg uses technology to keep costs low and help boost your returns.

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, 2018 and 2019.

The company now has over £1.7 billion of assets under management and over 70,000 investors.

How much do I need to invest?

You can open an account with the minimum contribution for an ISA, General Investment Account (GIA) or pension of just £500.

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 2020, 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

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 of course 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 13th October 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.

More information can be found in the terms and conditions on the Avios landing page.

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. Tax treatments apply.

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Comments

  1. Question: Can an AMEX Basic Charge Card upgrade to AMEX Card(green card)?

  2. Almost entirely thanks to HfP I still have a poorly performing ISA with Nutmeg that I put £50,000 in to three years ago as a result of HfP blandishments re free Avios.

    I say Nutmeg is a bad way to invest because you can only change the investment style (between aggressive mainly equity and ultra cautious, mainly bonds) and the way the portfolio is reallocated by Nutmeg (Fixed ratio or dynamic ratio of assets or some such) but cannot control geographic exposure or large blue chips stocks vs small companies and emerging markets. You also can’t bail out temporarily in to cash without losing the ISA protection value you have built up over the years.

    As even 150,000 Avios is only about the amount required for one long haul return club flight on BA I say don’t do it and choose the investment manager with the best reputation and with an investment strategy that you are also comfortable with.

    • I’m not a fan of Nutmeg but my general view is that’s it a fools errand to be temporarily bailing out into cash trying to second guess market corrections. Or switching asset classes wily nily.

      The golden rules should be;

      1) Invest for the long term. At least 5 years

      2) Costs kill you in the long term.

      3) The ideal holding period is forever.

      Do not churn investments.
      Do not move into cash because you think you can time the market. You can’t.

      4) Find a low cost tracker product from the likes of Vanguard with a low cost platform

      5) Its a long term investment, arguably similar to buying a house or getting married – do not allow short term fripperies like points ever influence your decision.

      And finally. A bit of research, time and effort will pay off more handsomely in the long term than the effort people put into collecting Avios or hotel points.

      • Agreed. Investing time to understand your latest financial position and working out where you want to be and how to get there can be much more worthwhile than chasing a few thousand avios. Priorities and all that.

      • The Savage Squirrel says:

        ken is correct. And no.2 on his list is why you shouldn’t touch nutmeg. Performance vs the market will vary year to year and nobody knows which funds will outperform next year. Costs are guaranteed … higher fees will always be a drag on performance and can be predicted (and avoided) with 100% certainty.

    • Troll Basher says:

      Agreed. Nutmeg is the poorest performer in my humble portfolio.

    • Almost entirely due to headforpoints… and the lack of due diligence on your part to check what you were investing in before you did so, you mean?

  3. What about the existing investors?? We have been loyal to Nutmeg for a number of years and would welcome a chance to be rewarded as well for that! Could these offer be extended onto ALL new money invested both in new and existing accounts? Rob, can you have a word with Mr Nutmeg about that?

  4. Customer loyalty and good publicity at a marginal cost + still new money coming in

  5. @alastairtravel says:

    To put the other side here I’ve found this works pretty well so far when I moved some pensions last year.
    Effectively getting 1% in terms of Avios to consolidate some pensions whereas financial advisers were looking to charge 3%. Simple and easy to use interface including the app – returns have been excellent so far from one of the higher risk levels.
    Took a bit of chasing to get the Avios, but friendly customer service.

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