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The UK’s first, and largest, digital wealth manager*, Nutmeg, is offering new customers up to 300,000 Avios for opening or transferring an account.
- For investments between £500 and £19,999 collect 1 Avios for every £1 invested. For investments between £20,000 and £200,000 collect 1.5 Avios for every £1 invested.
- Offer is valid on all Nutmeg products (ISA, General Investment Account, pension, Lifetime ISA, Junior ISA) with a minimum investment of £500
- This offer is valid for new Nutmeg customers only
- 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. Full details of these amounts are in the T&Cs.
- Offer opens at 00:01 on 31/07/2020 and closes at 23:59 on 21/08/2020.
The first thing to be very clear about when considering this sort of offer, is whether you are comfortable mixing upfront incentives with long term investment decisions. If you view the incentive as part of the overall investment package (including fees, expected returns, relative risk, etc) then incentives can be great – just don’t be blinded by them.
The next thing to consider is whether Nutmeg’s investment options best suit your needs. This will depend on a large range of personal financial factors which will vary from person to person, but it is worth noting that ‘YourMoney’ voted Nutmeg the best online Stocks and Shares ISA provider in 2015, 2016, 2017, 2018, and 2019.
In other words, if you are looking to invest, Nutmeg is a serious player (managing over £2 billion on behalf of over 80,000 investors) and is definitely worth paying close attention to. That does not necessarily mean though that it’s always going to be the right ‘fit’ for you, so always check out alternatives too.
Similarly, while the Avios offer is potentially very generous, it is also worth looking to see whether Nutmeg might be offering cashback or other options that suit your requirements better.
We have heard from many readers in the past who have had an excellent experience investing with Nutmeg and there is no doubt that the chance to earn up to 300,000 Avios is eye-catching. As with all investments though, take the time to work out what is best for you before leaping in.
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. Terms and conditions apply.
*Source: Boring Money Online Investing Report 2020