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Nutmeg offering up to 300,000 Avios with ISAs, pensions, Junior ISAs, Lifetime ISAs and General Investment Accounts!

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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 is back, giving you the opportunity to collect up to 300,000 Avios to save towards your future trips away.

Nutmeg Avios offer

As 2020 draws to a close and Covid vaccine news dominate the headlines, this offer could be a valuable boost to your Avios balance ahead of what will hopefully be a better year for travel.

Invest between £500 and £19,999 and for every £1 invested you’ll receive one Avios.  Invest between £20,000 and £200,000 and you’ll receive 1.5 Avios for every £1 invested.  This means that a £200,000 investment earns you 300,000 Avios. Terms and conditions apply.

Full details of the offer can be found here.

This year, Nutmeg has added two new products to the offer:

Junior ISA (a stocks and shares ISA for a child under 18, with an annual contributions limit of up to £9,000 per year. To invest in a Nutmeg Junior ISA your child must be under the age of 16. Junior ISA rules apply)

Lifetime ISA (a stocks and share ISA which can be opened by anyone aged 18 to 39, the government will top up contributions into a Lifetime ISA by 25% up to the maximum annual contributions limit of £4,000, meaning the maximum annual government bonus is £1,000. The money can be withdrawn to fund the purchase of your first home or when you turn 60. Lifetime ISA rules apply.)

This is on top of the products offered by Nutmeg in previous years – a stocks and share ISA, personal pension, and a General Investment Account.

In addition, Nutmeg recently launched a brand-new investment style to sit alongside its current fully managed, socially responsible and fixed allocation offerings. Smart Alpha portfolios, powered by JP Morgan Asset Management, are a range of investment portfolios which sit at the intersection of passive and active management. They combine J.P. Morgan Asset Management’s market insights and research expertise, while maintaining the same level of transparency and control seen across all Nutmeg investment styles.

Smart Alpha portfolios are available for ISA, General Investment Accounts, Lifetime ISA and Junior ISA products.

What is Nutmeg?

Nutmeg is an innovative online wealth management service that builds and manages sophisticated global investment portfolios for anyone looking to invest as little as £500. 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. Users can view all of their investments and their returns using the app, or via their website.

YourMoney voted Nutmeg the best online Stocks and Shares ISA provider for 2015, 2016, 2017, 2018 and 2019 and the company is rated ‘Great’ on Trustpilot.

Customers can select any one out of three investment styles and adjust their risk level as they see fit.  Nutmeg offers a choice of socially responsible investing across all of their products.

The company is the first, and the largest, digital wealth manager in the UK (Source: Boring Money Online Investing Report 2020) and now manages over £2 billion on behalf of over 100,000 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.

For a Lifetime ISA or Junior ISA, whilst the minimum investment amount for these products is £100, you will also need to invest a minimum of £500 to be eligible for this promotion.

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 2021, is £20,000. You can invest more but anything you commit beyond £20,000 will be placed in a General Investment Account (‘GIA’).

In addition, you can also put up to £9,000 this tax year into a Junior ISA on behalf of your child. This will not affect your personal ISA allowance!

Alternatively, you can transfer ISAs from previous tax years or old pensions of any size above £500, and you will still qualify for the promotion.

Please note: Avios are not awarded for customers opening ISAs which are 100% invested in cash or GIAs which are 100% invested in cash

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 excessive cost, and provide it to you online. Let our team of investment experts look after your money and see how your portfolios are performing any time of the day via android and iOS apps.”

How many Avios will I receive?

You will receive one Avios per £1 invested in a pension, ISA, GIA, Lifetime ISA or Junior ISA up to an investment of £19,999. Invest between £20,000 and £150,000 and you will receive one and a half Avios per £1 invested.

For example, if you invest £10,000 you’ll receive 10,000 Avios. Invest £20,000 and you’ll receive 30,000 Avios. Terms and conditions apply.

You can of course invest more, but the Avios reward is capped at 300,000 points.

It’s important to note that the offer is only open to new Nutmeg customers – defined as someone who has not previously invested with Nutmeg.  This offer is valid for invested accounts opened and funded before midnight (23:59) on 10th December 2020.  ISA, Pension and Junior ISA or Child Trust Fund transfers initiated before the deadline also qualify. Any half Avios awarded will be rounded up to the nearest full Avios.

When do I receive my Avios?

Your bonus Avios 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 within 24 months of opening your account, which takes your account balance below your initial invested amount, Nutmeg reserves the right to withdraw a cash amount from the closing balance, this deduction is linked to the amount you initially invested. You can see the full table of deductions in the terms and conditions.

How do I apply?

You need to sign up and invest via this special landing page to earn Avios. Remember, you will need a valid British Airways Executive Club account in order to receive your Avios.  Applications via the standard Nutmeg home page will not earn any Avios.

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.

Comments (53)

  • Alex says:

    Its actually not terrible value avios wise. You effectively buy 300k avios at 200k * 0.25% * 2 = 1000 when taking fixed allocation.

    Of course this only works out if you already have an existing ISA with 200k in it and simply replicate your old portfolio (you have the same risk/return but get 300k avios).

    • The real John says:

      The terms say you have to keep at least your original stake for 24 months or they penalise you. The fees are 0.51% per year for the fixed allocation when you invest £200K. So the 300K avios cost you at least £2000 – which is only ok if your existing portfolio matches theirs.

  • Alex Sm says:

    They need to include existing customers into this offer, otherwise it’s not fair and no incentive for us to stay and be loyal. I had a chat with them a few weeks ago about that and they were quite receptive. Can you mention this too to them, Rob?

    • Genghis says:

      You’ve been mentioning this for a while. I guess the hope of eventually receiving some kind of bonus is keeping you loyal? 🙂

      • Freddy says:

        If you have a partner they could take advantage of the offer. There is an ongoing refer a friend offer but dunno if that can be used alongside avios offer

      • Alex Sm says:

        Yes, but my loyalty is running thinner on that front… I do like the service, the interface and the setup but it’s quite annoying that they only reward the new customers. It’s like being a long-term employee at the company and then find out they headhunted someone for a similar position offering them better terms than you have… I have another investment product with Vitality and they do offer various bonuses to existing customers.

  • Lady London says:

    I read yesterday Nutmeg now has a tie-up with JP Morgan

  • C M says:

    I really don’t get these robo-advisors. How do they actually hold your hand to help out first time investors? Sending an automated message when markets are down to hold on to your investments? When black swans happen retail investors just need a hug and a call rather than a generic email.

    • The real John says:

      I thought a robo-advisor just asks you about timeframe and risk appetite, then selects the conventional allocation for your answers.

  • Euan says:

    Unsure if I remember the previous terms correctly but pretty sure the terms and conditions on withdrawals were less penal in past promotions eg: charge applied for 12 month (now 24) withdrawal period and on whole balance of investment (not amount invested). New terms definitely a disincentive to making a large investment in my opinion.

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