Nutmeg

[rolex]

I'm thinking of moving a cash ISA over to an equity ISA. I've been looking at a Company called Nutmeg which has low charges. Can anyone recommend them? Are they a reputable Company?

Edited by rolex on Sunday 7th August 12:27

[williaa68]

They are certainly reputable. I have had my ISA with them for a while and the performance was pretty good although I recently moved some of it as i waned to generate more income. Their charges are indeed very low. There is a referral offer on at the moment whereby if i refer you you will get three months free and i get (i think) £25. DM me your email address if you'd like the link. The key advantage i think is it is a reasonably active management style at a very low cost.

[Ozzie Osmond]

rolex said:

I'm thinking of moving a cash ISA over to an equity ISA.

Good lad! I don't know Nutmeg but I endorse your strategy.

In essence, returns on cash ISAs are so low that they're really a waste of the great tax relief available. It's all personal choice but IMO the potential returns are well worth the risk - there are no guarantees though. Stick to mainstream equity funds and the risk ought to be sensibly contained.

[JulianPH]

Yes, they are perfectly reputable and a great idea if you don't want the hassle of doing all the research yourself (to manage and rebalance your portfolio) all the time.

I think companies like this will be the future for people who don't want to pay for advice when they realise the self-managed options (Hargreaves Lansdown, etc.) actually cost more money and you have to do everything yourself!

[Mattt]

Also check out Fiveraday which is run by a PHer

Edited by Mattt on Sunday 7th August 21:37

[jontymo]

williaa68 said:

They are certainly reputable. I have had my ISA with them for a while and the performance was pretty good although I recently moved some of it as i waned to generate more income. Their charges are indeed very low. There is a referral offer on at the moment whereby if i refer you you will get three months free and i get (i think) £25. DM me your email address if you'd like the link. The key advantage i think is it is a reasonably active management style at a very low cost.

Hi Williaa68,
Something I have been considering, have emailed you hope that is ok!

Jon

[Ginge R]

Nutmeg is an established provider. This particular field is known as robo advice, and was the subject of a report by the very credible Langcat Consultancy just the other week.

The various providers out there all offer something for everyone - some are cheaper than others, some offer a sweet spot at a certain price point, and some offer either too much or too little functionality.

If you're interested in getting the right provider for you, the report is worth reading. I'll declare an interest at this point, I founded and own Fiver a Day (as mentioned in the report).

http://langcatfinancial.co.uk/D2CGuide2016/COME%20...

[rolex]

Thank you for the info guys. I've decided to wait for the Government's autumn statement before I make a move. I don't want to jump in now and get caught out by a stock market correction if it's revealed we are in a recession. Best to purchase afterwards I think.