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If you were considering whether to take advantage of the latest generous Avios bonus offer from Nutmeg (the UK’s first, and largest, digital wealth manager*), now is the time to do so!
Until 23:59 on 10th December 2020, Nutmeg is offering new customers up to 300,000 Avios for opening or transferring an account. Terms and conditions apply.
If you are transferring an ISA, pension or Junior ISA, provided that you initiate the transfer before the offer expires you will be eligible for the promotion.
Key details of earning Avios with Nutmeg
- 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.
- You can choose from Nutmeg’s four investment styles: Fully Managed, Socially Responsible, Fixed Allocation and the newly launched Smart Alpha portfolios. All are powered by J.P. Morgan Asset Management.
- 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 19/11/2020 and closes at 23:59 on 10/12/2020.
Is this a good deal?
Deciding how best to invest is a complicated and very personal decision – and this is not investment advice. There are some obvious aspects that would need to be weighed up in any decision though.
Consider this first: are you 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 – but never 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. It is worth noting that ‘YourMoney’ voted Nutmeg the best online Stocks and Shares ISA provider from 2015-2019.
In other words, if you are looking to invest, Nutmeg is a serious player. They manage over £2 billion on behalf of over 100,000 investors and is definitely worth paying close attention to. That mean 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 and investment goals better.
Many readers in the past 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