Nutmeg

[Dakkon]

Just wondered if anyone used them, what they thought?

[Sideways Rich]

I get the daily email, but haven't looked at their service, what exactly do they offer?

[Dakkon]

they are offering managed financial services at good rates, but no idea how good they are, hence trying to go to a wider audience for feedback?

[Dodsy]

I saw their ad the other day and was tempted , has anyone used Nutmeg ? Or similar investment services ?

[Jacobyte]

Nutmeg is a Discretionary service. I.E. you invest into one of the managed portfolios and leave the rest to them - they move the assets around in the portfolio based on their market knowledge.

This is different to an Advised service, where you pay for advice and they will recommend you which funds to buy and then periodically which funds to switch.

This is different again to a Self-Directed system, where you're on your tod to choose the funds and switch them whenever you wish. This is typically very low cost, but you need to know what you're doing.

As far as technology goes, Nutmeg has quite a good front-end UI with top notch calculation tools. Other services mainly focus on the static sales information and the transactional process.

Hargreaves Lansdown are the leaders in Direct to Consumer investments, but others are now starting to join the game. This is mainly because of the RDR making it inefficient to service fee-paying clients that have less than say £100k to invest, so they're using technology to provide mostly automated systems. Charles Stanley Direct launched a year or so ago, plus Close Brothers have only just launched a similar product, but I haven't had a chance to review it yet.

[pacoryan]

1.47% typical annual cost without advice on a small portfolio under £25k. They won't be buying mirror funds so this is probably about right, hardly a bargain though.