The wealth management landscape is on the cusp of a digital overhaul and is poised to change the nature and delivery of financial advice in some significant ways. In this regard, London-based Nutmeg is the first online wealth manager that offers customers a high-quality investment service at a reduced cost.
Integrated Nutmeg to Marketplace
Recently, Starling, the UK digital bank has added Nutmeg to its Marketplace. This integration will give Starling’s customer base the ability to keep track of their pension and investment balances all within the Starling app, allowing them to always have a full picture of their finances at their fingertips.
The UK digital bank’s customer with a Nutmeg account can connect to it through the Marketplace, while those without one will be able to sign up through the Marketplace.
Once connected, they’ll be able to benefit from Nutmeg’s offering, which includes fully managed and socially responsible pension portfolios, with a minimum investment of £500.
How does it benefit customers?
For the same minimum amount, customers can also benefit from investments in the form of a general investment account and stocks and shares ISAs, and for a lower minimum of £100, customers can invest in a Lifetime ISA or Junior ISA for their children. There are no fees for signing up to Nutmeg, but there is a fee when an investment is made.
Helen Bierton, Chief Banking Officer at Starling Bank says: “By developing smart integrations with the third-party platforms popular with our customers, such as Nutmeg, Starling is making it easier for customers to keep track of their money wherever it is located.”
Matt Gatrell, Chief Operating Officer at Nutmeg says: “We know that helping people to have a clearer picture of their full financial circumstances is crucial, and even more front of mind at the moment. So, we’re pleased to be connecting with Starling, to give Nutmeg investors and Starling customers greater oversight of their finances to support them in reaching their financial goals.”
Risk warning: As with all investing, 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 treatment depends on your individual circumstances and may be subject to change in the future.
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