Nutmeg.com

SnowMan

There is no confusion it is pretty straightforward.

The nutmeg charges do not make it a cost efficient option. Over quite a short period the extra nutmeg charges can be equivalent to the Cyprus savings tax, it is just that they aren't taken in one go.

Grey gym sock has already given a good analysis of why the nutmeg charges are expensive while giving an indication of cheaper alternatives.

Saying it takes only 10 minutes to sign up and invest made me... :rotfl:. It reminds me of the advertising of pay day loan companies saying it only takes 10 minutes to sign up get a loan.

People who appear to have vested interests to promote nutmeg such as yourself coming onto this forum aren't going to change the view of people on this thread who have no motive to promote or diss nutmeg.

jimjames

It seems bizarre that a new user signs up just to clear up some confusion about a random company but replies with some very detailed facts and figures.

Amy, I hope you aren't posting on behalf of Nutmeg as that is what it appears to be. If so you should get an approved account that shows your affiliation to the company. Companies using anonymous accounts to post their praises are not viewed well here.

The whole concept of Nutmeg does seem odd. You are making the assumption that the manager of their funds can beat other fund managers and can predict the right assets to move at the right time. Very few people are able to do that consistently.

dunstonh

Not sure what sort of IFA you have, but they tend to cost a lot more overall and not be instantly accessible (booking meetings, going to their office, waiting for letters etc). Personally I'd go with instant online support from traders with their hands on the fund than an intermediary.

What an IFA does and what nutmeg do is different. Nutmeg is a discretionary management service. Not an advisory service. Most IFAs are cheaper than nutmeg. So, I dont know where you get the idea that an IFA is more expensive. However, its not like for like so you cannot compare costs that way. indeed, IFAs will use discretionary fund managers with some clients for investments. So, the two can run side by side.

The whole concept of Nutmeg does seem odd. You are making the assumption that the manager of their funds can beat other fund managers and can predict the right assets to move at the right time. Very few people are able to do that consistently.

James, it is what discretionary investment managers do. Its not odd. Its just an online portal for a service that has existed for a very long time. I am not a particular fan of it but its works for some.

There does seem to be a bit of nutmeg pushing in this section over the last week involving new sign ups.

makeem95

I recently opened an account with Nutmeg.com and contributed my non-cash portion of my 2012-13 ISA allowance. There are a few minor niggles with the website, but overall I think it's well designed and the support team usually reply to my queries on the same day.

However, I am alarmed today to see my fund has lost 6.7% in one day. I understand these investments are supposed to be long term and they will go up & down, but 6.7% in one day seems excessive to me, especially as I set my risk view as 4 out of 10 (with 10 being most risky). 4 is supposed to be "slow & steady" growth.

In general though, how long should one look at the performance of a fund before you can decide it's not conforming to your risk attitude?

makeem95

Hmm, it's jumped back up to -0.2% loss now. I guess the fund balance hadn't updated fully when I saw it last....

bugbyte_2

I am training myself to invest and forget, as every movement in the stock market affects my mood. For example, the FTSE 250 is down 2% today! @*#! As my investment is for at least 10 yrs, and I have made my bed to lie in, so to speak, I shouldn't care!