Nutmeg Support (2024)

FAQs

What happens to my money if Nutmeg goes bust? ›

This means that your investments are protected in the unlikely event that either Nutmeg or State Street are declared bankrupt. Nutmeg is also covered by the Financial Services Compensation Scheme, which means you may be entitled to compensation if we cannot meet our obligations.

Nutmeg is required to comply with the rules of the Financial Conduct Authority (“FCA”) which, in short, require that all our customers' assets are held securely and separately from Nutmeg's assets.

Book a free call with an expert

Book a call with one of our experienced wealth managers to discuss your financial goals. If you have a general account query, please contact us on 0203 598 1515.

Use the Nutmeg wealth management app to open an account or easily access any existing pension, ISA, Lifetime ISA, Junior ISA or general investment account that you already have with us. With investment, your capital is at risk.

My early experience with Nutmeg

In a relatively short amount of time, I managed to make the equivalent of a couple of years' worth of interest, and I was soon wondering why I hadn't started investing earlier. I enjoyed my experience with Nutmeg so much, I opened an S&S Lifetime ISA with them as well.

From within your Nutmeg account on desktop, tablet or mobile website, select withdraw from the Payments in the menu on the left-hand side of the home page once you sign in. Then you'll have to follow the simple steps. Please note that withdrawals are not possible via the mobile app.

How long does it take to transfer a pension to Nutmeg? The majority of pension transfers take two to three weeks in total to complete. Some can take around three months, depending on your provider.

Cashing in a pension usually only becomes possible at age 55. At this point some or all of your pension funds can be used to buy an annuity, set up a drawdown arrangement, accessed as cash, or you can opt for a combination of these options.

The company was purchased by JP Morgan for £700m in June 2021.

Is Nutmeg part of Chase Bank? ›

Meet Nutmeg, the first – and now the largest – digital wealth manager in the UK. With over 200,000 customers, this award-winning team is now part of the Chase family.

Here, Nutmeg Fully Managed portfolio 5 v Moneyfarm Actively Managed risk level 4 feels like a good direct comparison. In 2022, Nutmeg 5 delivered average annual returns of -13% vs Moneyfarm 4 delivering -9.1%. Performance in 2021 was Nutmeg at 7.5% vs Moneyfarm at 8.8%.

Regardless of how old it is, nutmeg that's been stored in airtight containers will remain safe to eat, although the flavor will fade over time. Ground nutmeg can remain flavorful for two to three years and whole nutmeg seeds can last up to five years.

However, if you have more than one pot with Nutmeg and make a bank transfer, we can't be sure which pot you'd most like to allocate the money to. As such, it will be held as 'Unallocated cash' and we'll contact you to request you allocate the cash to a pot so we can invest it on our next twice-weekly investment cycle.

The losses reported by Nutmeg reflect the modern economic dynamic start-up ecosystem and investor behaviour. Traditionalists argue that profit is sanity, and that growth should be organic through reinvestment of cash generated by the business. A sensible approach but one that delivers steady, moderate growth.

The FSCS might apply if you lose money because your investments have not been administered correctly, or as a result of misrepresentation or fraud, and the authorised firm concerned has gone out of business and cannot pay compensation or return your investments or any cash held on your behalf.