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View the article online at http://citywire.co.uk/wealth-manager/article/a729421

Nutmeg chases clients with discount fee offer

by Robert St George on Jan 21, 2014 at 14:57

Nutmeg chases clients with discount fee offer

Online investment manager Nutmeg has temporarily cut its fees to entice new customers.

Clients who invest with Nutmeg before 17 February will receive a year-long reduction in their portfolio management fees, as follows:

Amount invested £1k+ £25k+ £50k+ £100k+ £250k+ £500k+
Normal fee 1% 0.90% 0.75% 0.60% 0.50% 0.30%
Special offer fee 0.90% 0.75% 0.60% 0.50% 0.30% 0.30%

Existing customers will be offered the same fees for a six-month period if they transfer an ISA to Nutmeg by 8 March.

Nick Hungerford, Nutmeg’s founder (pictured), commented that he was ‘committed to keeping our portfolio management fee as low and as easy to understand as possible’.

3 comments so far. Why not have your say?

Anonymous 1 needed this 'off the record'

Jan 21, 2014 at 15:07

Fee + VAT + Dealing Costs + ISA holding charge + underlying charges on the passive structures. Opaque as always.;

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PCIAM

Jan 21, 2014 at 15:55

No reduction if you're £500k+. Bummer.

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J Smith

Jan 21, 2014 at 16:55

Sounds like a desperate last throw of the dice. In its last accounts to 31st December 2012, the total turnover of Nutmeg was £2,591 - yes that's two thousand, and five hundred and ninety one pounds only! I wonder what last years number was?

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