Nutmeg offering up to 300,000 Avios with ISAs, pensions, Junior ISAs and Lifetime ISAs

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This is an advertisement for Nutmeg Saving and Investment Limited (“Nutmeg”). Nutmeg has agreed to pay the publisher an award for new customers acquired via the promotion of its services on this site. Head for Points is a journalistic website. Nothing here should be construed as financial advice, and it is your own responsibility to ensure that any product is right for your circumstances. Recommendations are based primarily on the ability to earn miles and points. Robert Burgess, trading as Head for Points, is regulated and authorised by the Financial Conduct Authority.

Nutmeg is back, giving you the opportunity to collect up to 300,000 Avios to save towards your future trips away.

As 2020 draws to a close and Covid vaccine news dominate the headlines, this offer could be a valuable boost to your Avios balance ahead of what will hopefully be a better year for travel.

Invest between £500 and £19,999 and for every £1 invested you’ll receive one Avios. Invest between £20,000 and £200,000 and you’ll receive 1.5 Avios for every £1 invested. This means that a £200,000 investment earns you 300,000 Avios. Terms and conditions apply.

Full details of the offer can be found here.

This year, Nutmeg has added two new products to the offer:

Junior ISA (a stocks and shares ISA for a child under 18, with an annual contributions limit of up to £9,000 per year. To invest in a Nutmeg Junior ISA your child must be under the age of 16. Junior ISA rules apply)

Lifetime ISA (a stocks and share ISA which can be opened by anyone aged 18 to 39, the government will top up contributions into a Lifetime ISA by 25% up to the maximum annual contributions limit of £4,000, meaning the maximum annual government bonus is £1,000. The money can be withdrawn to fund the purchase of your first home or when you turn 60. Lifetime ISA rules apply.)

This is on top of the products offered by Nutmeg in previous years – a stocks and share ISA, personal pension, and a General Investment Account.

In addition, Nutmeg recently launched a brand-new investment style to sit alongside its current fully managed, socially responsible and fixed allocation offerings. Smart Alpha portfolios, powered by JP Morgan Asset Management, are a range of investment portfolios which sit at the intersection of passive and active management. They combine J.P. Morgan Asset Management’s market insights and research expertise, while maintaining the same level of transparency and control seen across all Nutmeg investment styles.

Smart Alpha portfolios are available for ISA, General Investment Accounts, Lifetime ISA and Junior ISA products.

What is Nutmeg?

Nutmeg is an innovative online wealth management service that builds and manages sophisticated global investment portfolios for anyone looking to invest as little as £500. Nutmeg uses technology to keep costs low and help boost your returns. Your money will be invested in what the company calls a robust, diversified portfolio that spreads risk across asset classes, geographies and industries. Users can view all of their investments and their returns using the app, or via their website.

YourMoney voted Nutmeg the best online Stocks and Shares ISA provider for 2015, 2016, 2017, 2018 and 2019 and the company is rated ‘Great’ on Trustpilot.

Customers can select any one out of three investment styles and adjust their risk level as they see fit. Nutmeg offers a choice of socially responsible investing across all of their products.

The company is the first, and the largest, digital wealth manager in the UK (Source: Boring Money Online Investing Report 2020) and now manages over £2 billion on behalf of over 100,000 investors.

How much do I need to invest?

You can open an account with the minimum contribution for an ISA, General Investment Account (GIA), or pension of just £500.

For a Lifetime ISA or Junior ISA, whilst the minimum investment amount for these products is £100, you will also need to invest a minimum of £500 to be eligible for this promotion.

What is the maximum I can invest?

The maximum you are allowed to invest in an ISA this tax year, which runs to 5th April 2021, is £20,000. You can invest more but anything you commit beyond £20,000 will be placed in a General Investment Account (‘GIA’).

In addition, you can also put up to £9,000 this tax year into a Junior ISA on behalf of your child. This will not affect your personal ISA allowance!

Alternatively, you can transfer ISAs from previous tax years or old pensions of any size above £500, and you will still qualify for the promotion.

Please note: Avios are not awarded for customers opening ISAs which are 100% invested in cash or GIAs which are 100% invested in cash

Why should I invest with Nutmeg?

In their own words:

“We take the best elements of a high-end investing service, strip out the complexity and excessive cost, and provide it to you online. Let our team of investment experts look after your money and see how your portfolios are performing any time of the day via android and iOS apps.”

How many Avios will I receive?

You will receive one Avios per £1 invested in a pension, ISA, GIA, Lifetime ISA or Junior ISA up to an investment of £19,999. Invest between £20,000 and £150,000 and you will receive one and a half Avios per £1 invested.

For example, if you invest £10,000 you’ll receive 10,000 Avios. Invest £20,000 and you’ll receive 30,000 Avios. Terms and conditions apply.

You can of course invest more, but the Avios reward is capped at 300,000 points.

It’s important to note that the offer is only open to new Nutmeg customers – defined as someone who has not previously invested with Nutmeg. This offer is valid for invested accounts opened and funded before midnight (23:59) on 10th December 2020. ISA, Pension and Junior ISA or Child Trust Fund transfers initiated before the deadline also qualify. Any half Avios awarded will be rounded up to the nearest full Avios.

When do I receive my Avios?

Your bonus Avios will be credited to your British Airways Executive Club account. You will receive your Avios within 45 days of making your initial investment.

If you make a withdrawal within 24 months of opening your account, which takes your account balance below your initial invested amount, Nutmeg reserves the right to withdraw a cash amount from the closing balance, this deduction is linked to the amount you initially invested. You can see the full table of deductions in the terms and conditions.

How do I apply?

You need to sign up and invest via this special landing page to earn Avios. Remember, you will need a valid British Airways Executive Club account in order to receive your Avios. Applications via the standard Nutmeg home page will not earn any Avios.

Remember, as with all investing, that your capital is at risk. The value of your portfolio with Nutmeg can go down as well as up and you may get back less than you invest. Tax treatments apply.

Category

British Airways and Avios

This article is closed to new posts. Discussion continues in the HfP Forums.

Bs says:

19 Nov19 November 05:55

Oh no. Not another advertorial. I’d had enough of those with the 3 from Amazon which I’m not even eligible for.
- Toby says:
  
  19 Nov19 November 06:06
  
  Don’t read it then.
  - Bs says:
    
    19 Nov19 November 06:37
    
    I didn’t.
    - Toby says:
      
      20 Nov20 November 06:05
      
      Then why whinge?
      
      Was it really hard to avoid and with the hassle of posting?
- DT says:
  
  19 Nov19 November 06:46
  
  Maybe Rob should stop all ads and just divide all the costs of running the site by his readership and send us each a monthly invoice to pay? Would you prefer that option?
  - BS says:
    
    19 Nov19 November 07:09
    
    I don’t mind if it is relevant. This isn’t too bad – at least it involves airmiles, even if the underlying product is unrelated to travel. The Amazon card was totally irrelevant: nothing to do with airmiles or travelling. AND only for business. It was just pure spam.
    - Brian says:
      
      19 Nov19 November 08:04
      
      To be fair, it’s not as if travel is booming at the moment and that’s unlikely to change in the short term. Bills still need to be paid.
- S879 says:
  
  19 Nov19 November 06:47
  
  Still, you visited this site so early in the morning. There must be something that this site offers you. I’m finding this article quite useful and the comments from experienced people will make me aware of how viable the company is and their products.
  - BS says:
    
    19 Nov19 November 07:12
    
    So early because I am abroad. Travel – the subject of the blog! Wanting to take advantage of the travel advice I do check in. But the subject of this blog has been shifting, and I very well may not be checking in if it continues to do so.
    - KBuffett says:
      
      19 Nov19 November 07:18
      
      This site doesn’t provide ‘travel advice’
      Maybe you should ready the gov website for that instead of moaning on here.
      - Bs says:
        
        19 Nov19 November 07:23
        
        Oh do stop being tiresome. It does provide travelling advice. And how best to travel using points, and/or for least cash. That is travel advice.
- BuildTheWall says:
  
  19 Nov19 November 08:07
  
  Request a refund of your subscription fee
- ChrisW says:
  
  19 Nov19 November 10:01
  
  H4P readers are literally banned from travelling right now.
  
  Something has to keep the lights on…
  - Lady London says:
    
    19 Nov19 November 12:38
    
    I hope Rob keeps doing these articles on financial products that a huge core of readers that also travel, may have an interest in.
    
    The articles always create some highly interesting comments and views that have taught me more than all my professional reading in the past year.
    
    There are many, many widely reported on investment providers, major names that seem to appear all over the financial press, get quoted all the time, even contribute excellent articles to the various industry publications. Yet they are performing worse than Nutmeg.
    - BuildTheWall says:
      
      19 Nov19 November 21:38
      
      Isn’t nutmeg just putting together some mix of passive funds? How is that comparable to other investment providers?
  - Ian says:
    
    19 Nov19 November 13:41
    
    You need to look up the definition of the word “literally”.
    - Rob says:
      
      19 Nov19 November 13:50
      
      In the role as someone who reviews hotels, I can travel wherever I want (if they’ll let me in!).
- pking says:
  
  19 Nov19 November 13:04
  
  I was interested in the Amazon posts
Mouse says:

19 Nov19 November 06:41

Is it possible to receive this bonus more than once per lifetime?
QwertyKnowsBest says:

19 Nov19 November 06:43

Nutmeg is an ok platform and ok performance. But you can do much better. If considering a similar alternative look at Vanguard life strategy funds as these have performed well and much cheaper fees. You can use the Vanguard platform or interactive investor as I did when I moved from Nutmeg.
- Sam says:
  
  19 Nov19 November 07:02
  
  Agreed. If investing the full £200k to get 300k avois, consider the cost of buying Avios. At the moment, it would cost just under £5000 (if you could buy that much on ba.com which you can’t) which is a rounding error
  
  Ok, might be good if you’re not an aggressive investor or close to retirement when you want a little less risk. But if you’re not in either of those two brackets, better ways to get avios
  - TGLoyalty says:
    
    19 Nov19 November 08:31
    
    Re general investment account
    
    Consider Points are not taxable and cash is taxable.
    
    Of course that’s not a consideration for ISAs etc.
- Genghis says:
  
  19 Nov19 November 07:30
  
  Too much home bias for my liking. I’ve already got home bias in my life – my house, my job etc.
  - Harry T says:
    
    19 Nov19 November 09:53
    
    What’s your asset allocation like these days then?
    - Genghis says:
      
      19 Nov19 November 11:03
      
      100% equities at global market weighting. I’m still relatively “young” and have ridden out market drops so happy with no FI. With Lifestrategy, why would I allocate 6x more capital than the market to Astra say than Pfizer? To quote Game of Thrones, “You know nothing Jon Snow”. To understand that you know nothing is genuinely a good thing.
      - Harry T says:
        
        19 Nov19 November 12:37
        
        Agreed, very few people have “edge” and it’s likely not you or I! You still buying through the Vanguard platform or have you moved away?
      - Genghis says:
        
        19 Nov19 November 12:47
        
        I like Vanguard investor as combined with the SIPP it works best for me. If ISA only, go vanguard then transfer to iWeb annually.
  - The Savage Squirrel says:
    
    19 Nov19 November 18:25
    
    “Too much home bias for my liking. I’ve already got home bias in my life – my house, my job etc.”
    
    This is an excellent point and and one that many people massively under-consider. How many people have substantial investments not just in the same country, but in the same field in which they work … or even the same company! (I’m not talking about generous employer share-option schemes here … which are of course sensible; but should usually be sold out of at the first opportunity for the same reason).
Lynn says:

19 Nov19 November 07:13

Surely there is a limit you can invest in an ISA each year to avoid taxes, unless you are transferring from another ISA
- TGLoyalty says:
  
  19 Nov19 November 08:31
  
  Yes
Bs says:

19 Nov19 November 07:20

I will say what I say whenever these high value investment products come along with a ‘bonus’:
Especially if you have high value investments, you really should be choosing a product based on its suitability to your needs, probably with independent professional advice. Choosing a product purely because of a few airmiles is utter folly. If, after advice, this happens to be the best product, then you have an unexpected bonus of a few miles.

If you are looking for something to squirrel away £50/month tax-free that you won’t need for a while then this really isn’t bad, given its ease of use and no start up cost. But you won’t get many avios off it.
- The real John says:
  
  19 Nov19 November 08:45
  
  Yes
- ken says:
  
  19 Nov19 November 09:14
  
  its really not that much different than buying a funeral advertised on daytime TV because you get a free Parker pen.
  
  The track record looks ok(ish) – but they are comparing against a basket of high charging peers (Barclays Wealth & Investment Management, Coutts & Co, JP Morgan Private Bank). They have basically matched their performance over 5 years.
  
  They also have a UK bias (most investors do) – Do we expect that UK listed shares will outperform the USA or the rest of the world over the next 20 years ?
  
  Long term evidence would suggest not.
Ian says:

19 Nov19 November 09:31

This looked interesting but the “fees” are likely to offset a large part of the benefit gained from the Avios. If you look at their website, note that the fees (numbers in big script) are per WEEK (written very small). Caveat emptor.
- The real John says:
  
  19 Nov19 November 16:06
  
  What difference does it make if fees are charged weekly or annually?
  
  If you put £200K into the first 2 choices, it calculates the fees as £21.10 per week. This is the Nutmeg fee of 0.75% on first 100K + 0.35% on the rest.
  
  As you need to keep your original stake for at least 2 years, this adds up to £2194.40, which is a reasonable deal for 300K avios, provided that your money would otherwise have been invested in similar assets without any platform fees e.g. using iWeb
  - Sundar says:
    
    19 Nov19 November 18:01
    
    51 weeks out of the market for the first week fees and so on ?!
Mark says:

19 Nov19 November 09:33

Lockup for 2 years!
luckyjim says:

19 Nov19 November 10:03

Anyone thinking of using Nutmeg should click on the Trustpilot link in the article and read the negative reviews. Bear in mind that many companies have teams of people dedicated to removing negative reviews from Trustpilot. When a vendor complains about a review, Trustpilot will automatically remove it and ask the reviewer to provide documentary evidence to back up their claims. Most people can’t be bothered to do this so most negative reviews are permanently removed.
- Freddy says:
  
  19 Nov19 November 11:16
  
  I’ve seen the trust pilot reviews and I think really they are a victim of the type of customer they are targeting i.e fairly new to investing, need their hand holding etc. Most negative reviews are from losses to their investment in March when the whole stock market dropped like a ton of bricks. A more sophisticated investor would understand there is ups and downs.
  
  To be fair I have a few K in nutmeg when they were offering a different incentive of drip feed a ISA for 12 months for £200. The performance has been on par with others
- TGLoyalty says:
  
  19 Nov19 November 11:52
  
  There are always going to be people that complain they’ve lost money as they seem to consider these things as sure things rather than what they actually are.