Is Nutmeg Worth the Fees?

Investing can be a great way to build wealth, but it can also be a daunting prospect for those who are just starting out. One of the most popular investment platforms in the UK is Nutmeg*, which offers a range of different investment options. But is Nutmeg worth the fees? In this blog post, we’ll take a look at what Nutmeg offers and whether or not it’s worth paying for.

What Does Nutmeg Offer?

Nutmeg is an online investment platform that allows users to invest in stocks and shares, exchange-traded funds (ETFs), and other investments. It also offers portfolio management services and advice on how to make the most of your investments. The platform is designed to be user-friendly and easy to use, with an intuitive interface that makes it simple to manage your investments. 

The Fees Involved 

Nutmeg charges a fee for its services, which varies depending on the type of account you have. For example, if you have an ISA account with Nutmeg, you will pay 0.45% per year on your investments up to £100,000 and 0.25% per year on any amount over £100,000. For non-ISA accounts, there is an annual management fee of 0.75%. There are also additional fees for certain services such as withdrawals or transfers out of your account. 

Are The Fees Worth It? 

Whether or not Nutmeg’s fees are worth it depends on your individual needs and circumstances. If you’re looking for a low-cost way to invest in stocks and shares without having to do all the research yourself, then Nutmeg could be a good option for you. However, if you’re looking for more advanced portfolio management services or advice from experienced professionals then you may want to look elsewhere as these services come at an additional cost with Nutmeg. 

My Experience

Personally, I started my investing journey with Nutmeg back in early 2020 and am still using them to this day. I have played around with where I keep my main Stocks & Shares to get more of an understanding of what meets my needs. In the last tax year I used Trading212, and this year I am using Vanguard.

However, I have used Nutmeg* for my Stocks & Shares Lifetime ISA for the past two tax years and am pretty confident I will continue to use them until I purchase my first home.

Conclusion 

Nutmeg can be a great option for those who want an easy way to invest in stocks and shares without having to do all the research themselves. However, it’s important to consider whether or not the fees involved are worth it before signing up with them as they can add up over time if you’re not careful. Ultimately, only you can decide whether or not Nutmeg is worth the fees – but hopefully this blog post has given you some food for thought!

If you are interested in signing up to Nutmeg, you can get 6 months fee-free using our link here.*

Disclaimer

Please note that this does not constitute financial advice and we will not accept responsibility for any financial losses or decisions you make. This blog is for informational purposes only.