Nutmeg Avios offer coming?

[Ed Mee]

Is there any news on whether Nutmeg might be having their twice yearly Avios 100k+ offer any time soon? Was looking to combine a few pots!

[Lady London]

Nutmeg got bought and I saw a report a while back the performance wasn’t too amazing. It would surprise me to see another offer on here currently although I haven’t been particularly paying attention

[Olly]

Was bought by Chase, who are in the process of integrating Nutmeg accounts into their own site/app, in case anyone is interested

[pbcold]

My nutmeg is up by 22.9% as of this morning.

[PointsChaser]

pbcold wrote:

My nutmeg is up by 22.9% as of this morning.

Over what period and what product did you select?

[Rob]

Whilst Sinead isn’t around this week, there is no Nutmeg advertising in the diary and they normally do something with us if they are planning an Avios promo. May of course still come as it tends to be nearer end of tax year.

[JoiPatel]

Hi,

I’m looking to combine also – any news of a promotion coming?
Thanks

[gundam]

The nutmeg promotion is back until 15th Aug 2023.

[SteveJ]

Not seen the returns on Nutmeg, possibly missing out Vs trackers on market growth for 6 months trying to earn Avois. Is this the general consensus on here?

[DJP31]

How long are you committed to keeping the money with Nutmeg? Can you e.g. transfer a chunk of pension money into it, wait until the Avios hits the BAEC and then transfer out again? I’ve seen nothing in the T&C’s about minimum term or clawbacks of Avios (as you would if you returned e.g. clothes you’d bought via the BA shopping link).

Other than the obvious investment risk which one would have to consider it seesm like a pretty easy way of boosting the Avios balance…

[ukpolak]

Last few weeks haven’t been that bad but most investment platforms are struggling in a higher interest rate environment / turbulent market anyway (ie why risk exposure to stock market if FSCS backed saving accounts and cash ISAs are now looking more attractive and for a lot less risk).

[SteveJ]

DJP31 wrote:

How long are you committed to keeping the money with Nutmeg?…

6 months to earn the reward it seems per the T&Cs. I see nothing in there to say you can’t earn and make a run for it at that point.

When and how the Investment Boost Reward will be paid?

14. The Investment Boost Reward will be paid to your account within six (6) months of your product transfer request being initiated

[DJP31]

SteveJ wrote:

DJP31 wrote:

How long are you committed to keeping the money with Nutmeg?…

6 months to earn the reward it seems per the T&Cs. I see nothing in there to say you can’t earn and make a run for it at that point.

When and how the Investment Boost Reward will be paid?

14. The Investment Boost Reward will be paid to your account within six (6) months of your product transfer request being initiated

Yes I saw that and wondered if it was more about managing expectations as pension/isa transfers can be slow. I think I’ll do an online chat when they’re open. I’d be quite happy keeping the money in the cash account but don’t think that’s possible with the pension, it has to go to one of the ETF portfolios.

[DJP31]

I checked and there’s definately no time limit on keeping the money with them, other than having to wait for the “up to 6 months” for the Avios to attach to the BAEC account. I’ve decided to have a punt with it and it will be interesting to see how long the process takes. Early signs are encouraging, the transfer process started and email received the next day asking whether I wanted the cash bonus or Avios.

I would caveat that this isn’t something I’d suggest anyone else does unless they are a “professional” or exerienced investor.DYOR for sure!

[middlesheds]

I’ve transferred over enough to trigger a 50k avios bonus. Transfers were easy enough and quick at Nutmeg’s side. I’m an existing customer.

Support has just confirmed that I have satisfied the requirements for the 50k bonus and when probed on timing of award of bonus they pointed me back to the t&C’s which say within 6 months.

I’ll report back when they hit my BA account.

[DJP31]

middlesheds wrote:

I’ve transferred over enough to trigger a 50k avios bonus. Transfers were easy enough and quick at Nutmeg’s side. I’m an existing customer.

Support has just confirmed that I have satisfied the requirements for the 50k bonus and when probed on timing of award of bonus they pointed me back to the t&C’s which say within 6 months.

I’ll report back when they hit my BA account.

Mine completed on 22nd July and no Avios as yet.

[executiveclubber]

My Vanguard portfolio has never let me down, always at least +10%, currently +16.3%. Nutmeg just +0.5% in the last 12 months. Vanguard fees around half those of Nutmeg. IMO — choosing an investment platform based on a pretty weak Avios bonus is unwise!

[SteveJ]

executiveclubber wrote:

My Vanguard portfolio has never let me down, always at least +10%, currently +16.3%. Nutmeg just +0.5% in the last 12 months. Vanguard fees around half those of Nutmeg. IMO — choosing an investment platform based on a pretty weak Avios bonus is unwise!

I don’t disagree with the sentiment here, but are you really comparing like with like though?

Vanguard’s passive portfolios (i.e. comparable to Nutmeg) are their ‘Target Retirement’ and ‘LifeStrategy’ funds, many of which have only just broken even / single digits positive return over the last 12 months.

[JDB]

executiveclubber wrote:

My Vanguard portfolio has never let me down, always at least +10%, currently +16.3%. Nutmeg just +0.5% in the last 12 months. Vanguard fees around half those of Nutmeg. IMO — choosing an investment platform based on a pretty weak Avios bonus is unwise!

I’m not sure which Vanguard fund you are looking at or over which specific period, but for example the FTSE All World (one of the most popular funds it sells) in the 12 months to 31 July 2023 was up 12.92% but in the previous 12 months to 31 July 2022 was down 10.42%. You say Vanguard has never let you down “always at least 10%” – I’m not sure what that means, but only Mr Madoff created funds that went up 10% p.a.

Also you are talking about absolute numbers, but in real terms, which is what really matters, none of these numbers look good.

[executiveclubber]

JDB wrote:

In real terms, which is what really matters, none of these numbers look good.

Unsure of your intention here but if you have better ISA ideas I’m listening 🙂

[JDB]

executiveclubber wrote:

JDB wrote:

In real terms, which is what really matters, none of these numbers look good.

Unsure of your intention here but if you have better ISA ideas I’m listening 🙂

I was commenting that Vanguard isn’t always returning 10% – even index funds are volatile and that in the current environment, getting a decent real return is quite difficult. I have worked in equity investments all my life, but advising professional investors/governments etc. not private investors so I am allergic to index funds and happily pay fees to two trusted managers who outperform and bring structure and discipline that I don’t have; they also buy good stocks I wouldn’t am too prejudiced to touch! Low cost index funds are very good if you don’t have expertise, but alongside general funds such as the All World, I would put some long term specific regional or sector index fund ideas such as healthcare, infrastructure, mining, emerging markets etc. to improve returns. Currency is a big issue – this year the £ has been better for holidays than ISAs. I do quite a bit of individual stock picking for money I look after myself, but put some of these solid lowing risk, blue chip stocks with good cash flow and dividend prospects.

[middlesheds]

My Avios has now landed in my account (5 months post transfer).

I opted for lowest risk (as wanted to mitigate risk of big swing in market over such a short period) and it’s performed well enough.

[LondonDave]

Similarly mine landed on Tuesday, and have just initiated the transfer back to Interactive Investor (happy to rinse and repeat again in the future if allowed!) – 300,000 Avios for about £320 in Nutmeg fees (and a c. 1% increase in ISA value) seems like a decent deal to me.

(Mine took 4 months – transfer completed to Nutmeg on 2nd August)

[Sam]

LondonDave wrote:

Similarly mine landed on Tuesday, and have just initiated the transfer back to Interactive Investor (happy to rinse and repeat again in the future if allowed!) – 300,000 Avios for about £320 in Nutmeg fees (and a c. 1% increase in ISA value) seems like a decent deal to me.

(Mine took 4 months – transfer completed to Nutmeg on 2nd August)

So a £300000 isa generated 300000 points loosely worth a floor of £3000 with an increase in value of £3000 less some fees. Min of 2% return. Not sure I would class that as a good deal even over 4 months, acceptable but not great

[BBbetter]

Sam wrote:

Not sure I would class that as a good deal even over 4 months, acceptable but not great

These are people who trust the marketing on the platforms and pat themselves on the back without realising how much they could’ve saved with vanguard or fidelity etc.