Nutmeg Stocks & Shares ISA

meat_n2_reg

Hello 

Have always used cash isa's however thinking of using this years allowance for a stocks & shares ISA for the first time 

Plan is to invest for approx 7 years , so thinking of a 7/10 risk stocks & shares ISA with nutmeg 

Anyone used Nutmeg for a stocks & shares ISA ?

Any help / thoughts appreciated 

thanks 

Band7

I have a Nutmeg account but only because they offered £100 cashback for Chase customers. IIRC, that promo ended a few days ago, so you might have missed it but there's a less attractive cashback offer on TCB.

I never planned to use Nutmeg longer term as I am not a fan of robo-advisors and will cash out as soon as I have the cashback and am not in a loss situation. Currently 2.78% down but I did go for the high risk option. I don't particularly like the Nutmeg app, find the Wealthify app a lot better but as you don't use them daily it might not matter.

If you do want to go with a robo-advisor, make sure you are not going to pay through the nose. DIY investing will almost certainly be cheaper but it might not be for you. I would recommend some reading, e.g. on MSE and/or on Monevator.

Alexland

Nutmeg are one of the more established robos and worth trying for signup cashback offers but for a long term investment there is better value to be found elsewhere if you are willing to do the research.

MX5huggy

I’ve done £1000 to Nutmeg for £100 bonus with Chase (offer now closed). Not impressed over all seemed to take a week to get invested, 3 days for cash to clear then they only invest twice a week. Some vague questions about risk which you can manipulate the answers to and they pick a fund for you and it’s all a bit expensive. Once the offer is over the money will be going to Vanguard. 

Band7

I'd forgotten about the long clearing time, and the very limited investment days. Thanks for remembering

meat_n2_reg

Many thanks for your replies , thinking of using Vanguard instead 

DoublePolaroid

I used Nutmeg when starting out. In hindsight it was worthwhile because I was safely invested (in the sense that they provided a well diversified portfolio based on my high risk tolerance/capacity) whilst I was trying to learn how to DIY. Had I not used them I probably would’ve delayed investing for a year or two. Time in the market and all that. The UI is very straightforward and the staff were always very helpful and replied to online queries very quickly. 

I would echo the above that they’re expensive for what they are - if you wanted to you could easily replicate their basic portfolios (they tell you every fund they’ve invested in on your behalf) for far less than they charge. 

As and when you have a decent grasp of investing fundamentals, their USP disappears. 

missymouse

Yes I’m definitely thinking of moving my nutmeg investment which hasn’t done that well.

fees are high

dunstonh

missymouse said:

Yes I’m definitely thinking of moving my nutmeg investment which hasn’t done that well.

fees are high

Nothing did well in 2022.   That hasnt got anything to do with Nutmeg.    

eskbanker

missymouse said:

Yes I’m definitely thinking of moving my nutmeg investment which hasn’t done that well.

fees are high

In both cases, relative to what?

missymouse

To Vanguard which is my current S&S 

easier all in one place 

I think it would be worth more in a Building society