Nutmeg is changing the way people manage their money by its smart, secure, and straightforward online investment management tools. It is designed to be affordable, transparent, and available to everyone by bringing technology to finance. Its principles comprise of great design as well as an appreciation of feedback and a desire to always to more for its users.
Nutmeg is equipped with an innovative concept and it hopes that, through this, it can grab consumers at a timeout of disillusionment with banks and existing investment models. Its basic premise is that anyone of use can be a great investor.
Nutmeg advisors can build and manage diversified portfolios and invest your money in behalf of you with only £1,000 ($1,612) or more contribution from people aged 18 and over. However, you will be the one to decide the level of risk, investment timeframe, and of course, the amount of contribution.
Nutmeg users can invest their saving from any other accounts like the existing Individual Savings Account, UK accounts tied to banks and aimed at investment and savings and not subject to the same taxes as other investment accounts. But then again, you can withdraw or top up your account at any time even if Nutmeg aims at being around to make investments.
Nutmeg aims for two different markets with its current service. The first one is market for investments. People who use the traditional investment managers will pay 1.36% commission in fees and Nutmeg charges0.3% to 1% differing only on the amount you invested and the number of people you referred to the service. This incentive is passed around in the form of Nutmegs. On the other hand, Nutmeg also aims for people who have yet to ever make any investments, either because they have not had enough funds or because they don’t know where to begin.