Nutmeg - anyone here use their services. Pro's & Con's.

[SpokeyDokey]

So next week we shift the bulk of our 2 Virgin ISA's, that are ending, into a BLME 1.7% 7 year lock - don't want to discuss that as the decision has been made.

Deliberately we have set a reasonable amount of money aside to invest into a managed fund - we don't want to get involved in having to make ongoing decisions about the fund tbh.

Nutmeg appear to offer a simple solution for the hands-off investor.

Anyone here use them? Any upsides/downsides?

Are there better alternatives?

 

[cisamcgu]

Nutmeg are simple, modern and "funky", but they are not the cheapest. The fully managed fund, at say £50,000 will cost you almost 1% per year, which is £500. (0.75% + ~0.2%).
There are cheaper alternatives, check out Monevator website, they have a broker comparison spreadsheet which is updated bi-monthly, I believe.
https://monevator.com/compare-uk-cheapest-online-brokers/
But, remember,the charges are not what should drive your decisions, it is the what and where you want to invest.