Nutmeg online investment - opinions?
Discussion
DonkeyApple said:
Helicopter123 said:
A global strategy makes sense, leveraging the UK regulatory regime and reputation for 'fair play' but Nutmeg are in the micro-investor space.
GS used to be £5m equivalent to open an account at its wealth arm.
I'm just not convinced you can make money at this end of the market, at what Nutmeg are charging clients.
Not with their costs and overheads. It would work as a bolt on to something else like Revolut where the customer acquisition cost is already factored in. GS used to be £5m equivalent to open an account at its wealth arm.
I'm just not convinced you can make money at this end of the market, at what Nutmeg are charging clients.
GS have a retail side now. In the UK it’s Marcus. I figured that was the reason for their investment in a robo entity?
GS a possibility if it works with Marcus.
Ginge R said:
Money on Toast,
Nutmeg,
Strawberry Invest,
SCM Direct,
Wealth Horizon,
.. erm, and mine.
Fiver a Day.
Robo isn't right for everyone, but for more people than you may think, it can be just the job. I'm not sure if that list is comprehensive.
Page one Ginge - you saying you provide a robo product. Bit misleading to now deny that, at least be clear and say you don’t anymore if this is the actual case. Nutmeg,
Strawberry Invest,
SCM Direct,
Wealth Horizon,
.. erm, and mine.
Fiver a Day.
Robo isn't right for everyone, but for more people than you may think, it can be just the job. I'm not sure if that list is comprehensive.
Badda said:
Page one Ginge - you saying you provide a robo product. Bit misleading to now deny that, at least be clear and say you don’t anymore if this is the actual case.
To be honest I was rather shocked when he brazenly posted back to you saying that he doesn't provide a similar 'robo' product to Nutmeg, despite the fact we are all aware of it, it has its own thread here, several PHers are actually invested in it and he also recently posted that he is opening it for new business again.
b
hstewie said:
hstewie said: I don't know what this whole "cats in a sack thing" is with the IFA's and others on here in the industry but I can tell you that as a normal investor it isn't very encouraging when considering who I'd trust with my money.
I know exactly what you mean and regret getting drawn into this myself. I was fed up with being stalked by an IFA posting comments designed specifically to undermine me. I used to stand up for myself, but this just fuelled him further and ended up derailing threads, so I am now just ignoring him. People are quite capable of making up their own mind as to who are trying to be helpful and who is looking for a fight.
JulianPH said:
bhstewie said:
hstewie said: I don't know what this whole "cats in a sack thing" is with the IFA's and others on here in the industry but I can tell you that as a normal investor it isn't very encouraging when considering who I'd trust with my money.
I know exactly what you mean and regret getting drawn into this myself. I was fed up with being stalked by an IFA posting comments designed specifically to undermine me. I used to stand up for myself, but this just fuelled him further and ended up derailing threads, so I am now just ignoring him. People are quite capable of making up their own mind as to who are trying to be helpful and who is looking for a fight.
The in-fighting amongst the advice community I think makes it very easy for our regulator to get away with some badly thought out, and poorly executed initiatives, and to largely escape meaningful scrutiny too.
Badda said:
Page one Ginge - you saying you provide a robo product. Bit misleading to now deny that, at least be clear and say you don’t anymore if this is the actual case.
Badda said:
Page one Ginge - you saying you provide a robo product. Bit misleading to now deny that, at least be clear and say you don’t anymore if this is the actual case.
I don’t. It’s offline and has been offline for 18 months or so. I would love to get it back, but I don’t have the free time to do so right now. Mainly because I’m busy sorting out people’s lives who were exposed to an adviser who had a cosy relationship with a provincial SIPP provider who repeatedly facilitated him over the course of a few years, despite knowing he was a bad ‘un. Anyway, less said the better. My morning was spent with a financial services solicitor and 14 more victims. I’d rather not have, but there you go. This will prove to be the biggest pension mis-selling scandal of a generation, costing tens of millions. I’ll call a spade a spade, so forgive me for being direct, but I read some of the absolute garbage posted here and I despair.
bhstewie said:
hstewie said: I don't know what this whole "cats in a sack thing" is with the IFA's and others on here in the industry but I can tell you that as a normal investor it isn't very encouraging when considering who I'd trust with my money.
+1, it's most unedifying and doesn't paint anyone in a good light. I also don't know what the issue is between the people concerned, but they seem to have some level of standing in their parts of the industry, and this forum would be a much better place if they could just avoid sniping at each other...
outnumbered said:
+1, it's most unedifying and doesn't paint anyone in a good light.
I also don't know what the issue is between the people concerned, but they seem to have some level of standing in their parts of the industry, and this forum would be a much better place if they could just avoid sniping at each other...
I have always found Julian a charming and affable fellow. I take care to play the ball and not the man. This ‘industry’ though, needs a flamethrower taken to it. It has failed millions, and continues to do so. I also don't know what the issue is between the people concerned, but they seem to have some level of standing in their parts of the industry, and this forum would be a much better place if they could just avoid sniping at each other...
Ginge R said:
Helicopter123 said:
Exactly this Julian, well said.
The in-fighting amongst the advice community I think makes it very easy for our regulator to get away with some badly thought out, and poorly executed initiatives, and to largely escape meaningful scrutiny too.
You refer to poorly executed. I used to beat the Regulator up quite regularly, now I don’t. I met with Andrew Bailey and Megan Butler the other week at Stratford, and was back there last week, and I have seen, these past eighteen months, just how complex their task is. The matter is worthy of another thread entirely, I’m sure we’d both love to see the cowboys out of business. The in-fighting amongst the advice community I think makes it very easy for our regulator to get away with some badly thought out, and poorly executed initiatives, and to largely escape meaningful scrutiny too.
The SIPP/UCIS problem isn't going away, but there does appear to have been multiple opportunities missed by the FCA.
Do they do anything with data collected via Gabriel?
Why can't they mandate proper capital adequacy?
Why can't they mandate PI cover that stands up?
Why do they let collapsed business 'phoenix'?
I'm sure their task is complex, but they are a vast organisation, with huge resources, yet we remain mired in problems.
123,
I’ll answer that last point - currently I’m on a cold beach and my fingers are numb. Please forgive the typos. For a decade, fsa/fca was mainly going head to head with the banks. None of them were going anywhere. In miltary terms, it was like the Cold War. NATO vs WP. And whilst that was going on, time was spent, as we know, on TCF/RDR etc. The banks were eventually beaten. And similarly, the Cold War was won. But concurrently, with both, dark forces were at work. In our sector, scammers and cowboys were using technology etc, to become established. It became the equivalent of insurrection, brushfire warfare. And accordingly, we are seeing affairs like BSPS flaring up. The FCA is not assymetrical (enough). It is still geared up to fight the last war. And in many ways, that’s not entirely it’s own fault. It probably does need to be dynamic and agile. There needs to be regional branches of it that addresses affairs like BSPS - an organisation that can act to knock on doors and stop things quickly and simply.
I’ll answer that last point - currently I’m on a cold beach and my fingers are numb. Please forgive the typos. For a decade, fsa/fca was mainly going head to head with the banks. None of them were going anywhere. In miltary terms, it was like the Cold War. NATO vs WP. And whilst that was going on, time was spent, as we know, on TCF/RDR etc. The banks were eventually beaten. And similarly, the Cold War was won. But concurrently, with both, dark forces were at work. In our sector, scammers and cowboys were using technology etc, to become established. It became the equivalent of insurrection, brushfire warfare. And accordingly, we are seeing affairs like BSPS flaring up. The FCA is not assymetrical (enough). It is still geared up to fight the last war. And in many ways, that’s not entirely it’s own fault. It probably does need to be dynamic and agile. There needs to be regional branches of it that addresses affairs like BSPS - an organisation that can act to knock on doors and stop things quickly and simply.
Ginge R said:
Badda said:
Page one Ginge - you saying you provide a robo product. Bit misleading to now deny that, at least be clear and say you don’t anymore if this is the actual case.
I don’t. It’s offline and has been offline for 18 months or so. I would love to get it back, but I don’t have the free time to do so right now. Still, life's too short to argue. All the best with the new company.
outnumbered said:
bhstewie said:
hstewie said: I don't know what this whole "cats in a sack thing" is with the IFA's and others on here in the industry but I can tell you that as a normal investor it isn't very encouraging when considering who I'd trust with my money.
+1, it's most unedifying and doesn't paint anyone in a good light. I also don't know what the issue is between the people concerned, but they seem to have some level of standing in their parts of the industry, and this forum would be a much better place if they could just avoid sniping at each other...
What started out as me standing up to his snide comments has turned into a massive irritation for both me and others having to read through thread derailments. I want nothing further to do with this and I hope Al will have the good grace to take the same stance.
Ginge R said:
And inadequate PI. The weak link for sure.
These are all very good points but what have they got to do with Nutmeg? If the shoe were on the other foot you’d be accusing someone who is posting about financial impropriety on a thread about a specific financial firm of Lord knows what. Secondly, why do you use every thread in the finance to subtly promote your own current enterprise? Why does everything get hijacked and steered into this British Steel situation that you are hugely and actively getting your name attached to across the web at every opportunity? It does seem mildly insidious to create these repeated passive aggressive ‘assualts’ on certain posters seemingly for the purpose of talking your own book up?
I might be being hugely unfair and have completely misunderstood but this isn’t the first time that you’ve used PH in this way.
And finally that leads to a third question which is why on a thread that is about a roboninvestor has the one person who has tried to run a roboesque product in the past not only decided to not contribute with any of his direct experience but almost seemingly denies any experience or involvement?
Can we not just sticking to discussing Nutmeg and it’s business model on this thread and you start a different thread where you can post articles that promote yout primary objective which while immensely admirable has f
k all to do with most of the subjects you are currently hijacking. 
On this thread why don’t you discuss the complexities and costs that you found when you were looking to build up your fiveraday service and the impacts of performance in client retention with such a service and the type of client and how that does it r doesn’t vary from the norm? You have direct and key insight into this market place and would be a tremendous contributor to this thread if you wanted to be and I think that we would all be very grateful for it.
DonkeyApple said:
On this thread why don’t you discuss the complexities and costs that you found when you were looking to build up your fiveraday service and the impacts of performance in client retention with such a service and the type of client and how that does it r doesn’t vary from the norm? You have direct and key insight into this market place and would be a tremendous contributor to this thread if you wanted to be and I think that we would all be very grateful for it.
With many of his clients from PH, I think this would be a pretty unethical thing to do,I would like to hear it however.
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