Nutmeg review

Updated September 28, 2026 · BrokerCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Nutmeg suits UK investors who want a managed portfolio held in an ISA or SIPP rather than a self-directed dealing account. The cost of that convenience is a single management fee of 0.25% to 0.75%, with a £0 stock trade fee and FSCS protection of FSCS up to GBP 85,000 in place.

Key facts

Best for
A managed ISA or SIPP portfolio for UK investors who do not want to choose their own funds.
Management fee
0.25% to 0.75% (Source, checked September 26, 2026)
Minimum investment
£100 to £500 (Source, checked September 26, 2026)
Regulators
Financial Conduct Authority (Source, checked September 26, 2026)
Investor protection
FSCS up to GBP 85,000 (Source, checked September 26, 2026)
Account types
ISA, SIPP (Source, checked September 26, 2026)
Portfolio types
ETF, ESG, Cash (Source, checked September 26, 2026)
Legal entity
J.P. Morgan Personal Investing Limited (Source, checked September 26, 2026)
Headquarters
United Kingdom (Source, checked September 26, 2026)
Founded
2012 (Source, checked September 26, 2026)
Support channels
Email, Chat, Phone, Help-centre (Source, checked September 26, 2026)
Official website
nutmeg.com

Brokers

Minimum deposit
£500 (Source, checked September 26, 2026)
Stock trade fee
£0 (Source, checked September 26, 2026)
Markets
ETFs, Funds, Stocks, Bonds (Source, checked September 26, 2026)
Regulators
Financial Conduct Authority (Source, checked September 26, 2026)
Investor protection
FSCS up to GBP 85,000 (Source, checked September 26, 2026)
Deposit and withdrawal fees
no set-up, trading or exit fees (Source, checked September 26, 2026)
Platforms
Web, Mobile app (Source, checked September 26, 2026)
Account types
ISA, SIPP (Source, checked September 26, 2026)
Legal entity
J.P. Morgan Personal Investing Limited (Source, checked September 26, 2026)
Headquarters
United Kingdom (Source, checked September 26, 2026)
Founded
2012 (Source, checked September 26, 2026)
Support channels
Email, Chat, Phone, Help-centre (Source, checked September 26, 2026)
Features
Mobile app
Pricing model
Commission-free

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
WikidataWikipediaXLinkedIn

Pros and cons

Pros

  • One ongoing charge to read: management fees of 0.25% to 0.75%, with no set-up, trading or exit fees on top.
  • Holdings span etfs, funds and stocks, so a managed basket can still cover a wide spread of asset types.
  • Regulated by the Financial Conduct Authority, with FSCS protection of FSCS up to GBP 85,000 behind the account.
  • The same portfolios can sit in an ISA or a SIPP (isa and sipp), so the wrapper does not change the investments.
  • Support runs through email, chat and phone, which includes a phone line as well as chat, email and a help centre.

Cons

  • Management fees of 0.25% to 0.75% sit above the robo-adviser median of 0.35%, and the cost rises as the balance grows.
  • The opening deposit is £500 and later money goes in from £100 to £500, higher than the robo-adviser median of €60.06.
  • The portfolio range is etf, esg and cash only, so there is no crypto or thematic option to tilt towards.
  • The account list is isa and sipp, so there is no general investment account or joint holding outside a wrapper.
Nutmeg

Ready to try Nutmeg?

Scored 9.2 / 10 by BrokerCue.

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Who it suits

  • UK investors who want a managed portfolio inside an ISA or a SIPP and accept a single ongoing charge for the service.
  • People who would rather not research individual funds, since the holdings run to etf, esg and cash approaches chosen and held for you.
  • Investors who want a phone line as well as written support, since email, chat and phone includes phone, chat, email and a help centre.

Who should look elsewhere

  • Anyone starting with a small first payment, since the £500 deposit is well above the robo-advisor lower quartile of €0, and Axos Invest begins at $100 in US dollars.
  • Shoppers who want the lowest ongoing charge, since eToro runs a 0% management fee and Vivid Standard charges 0.5% to 1.5%, against Nutmeg's 0.25% to 0.75%.
  • Investors who want accounts in US dollars, because Axos Invest takes $100 in dollars while Nutmeg's £100 to £500 sits in pounds.

Safety and regulation

Nutmeg is regulated by the Financial Conduct Authority and is registered under 552016. Money held with the service is covered by the FSCS at FSCS up to GBP 85,000, the limit the scheme states for an eligible claim. The Financial Conduct Authority registration is the first thing to check and the protection figure is the second, because both answer the same question: what happens if the provider cannot hand your money back. It is a UK regulated wrapper rather than an offshore arrangement, which keeps the compensation route familiar.

Portfolios and accounts

The portfolio range covers etf, esg and cash approaches, built from funds rather than a shortlist of shares you pick yourself. The isa and sipp accounts give two wrappers: an ISA for tax-free investment and a SIPP for retirement saving, and both run on the same portfolios. That makes the account a holding you keep rather than a basket you build, with the fund choices made for you.

What trading costs

The running cost is a management fee of 0.25% to 0.75%, and it is the number that decides whether this service earns its place. Money can go in from £100 to £500, so small top-ups stay possible even when a larger opening payment is expected. Because the fee is a percentage of what you hold, it is the part to weigh against a provider charging a lower headline rate, and there is no per-deal pricing to compare it with.

Who runs it

The service is provided by J.P. Morgan Personal Investing Limited, a UK operation founded in 2012 and registered with the Financial Conduct Authority under 552016. Support runs through email, chat and phone, which includes a phone line as well as chat, email and a help centre. The bank ownership is the structural point: the portfolio sits with a regulated UK business rather than an independent boutique.

How Nutmeg compares

Where Nutmeg is available

Available
United Kingdom
Licence in United Kingdom
Financial Conduct Authority (552016), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does Nutmeg charge to manage my money?+

The charge is a single management fee of 0.25% to 0.75%, which sits above the robo-adviser median of 0.35% in this group. There are no set-up, trading or exit fees to add on top. Money can go in from £100 to £500, so the cost is a percentage of what you hold rather than a price per deal.

How much do I need to open an account?+

The minimum deposit is £500, and once the account is open money can go in from £100 to £500. That first payment is the step most readers notice, and it sits above the lower quartile of €0 across robo-advisers here.

Is my money protected at Nutmeg?+

Nutmeg is regulated by the Financial Conduct Authority, registration 552016, and eligible holdings sit under FSCS protection of FSCS up to GBP 85,000. That figure is the limit the scheme states for a qualifying claim, and it applies to the UK account rather than to investments you hold elsewhere.

Which account types can I open?+

You can open isa and sipp accounts. An ISA wraps the portfolio for tax-free investment and a SIPP is aimed at retirement saving. Both run on the same managed portfolios, so the wrapper choice does not change what is invested. A general investment account sits outside the range, which matters if you want to hold outside a tax wrapper.

What can I actually invest in?+

The managed range covers etf, esg and cash portfolios built from etfs, funds and stocks. Because the holdings are funds and index products rather than a set of shares you choose, the aim is a diversified basket picked for you. There is no individual stock picking here, and no thematic or crypto sleeve to tilt towards.

Can I speak to a person if something goes wrong?+

Support runs through email, chat and phone: phone, chat, email and a help centre. A phone line matters on a managed account, where most questions are about allocation, risk and fees rather than a single order. The account is run by J.P. Morgan Personal Investing Limited, so the help you reach sits inside a UK regulated business.

Who is behind Nutmeg?+

The service is provided by J.P. Morgan Personal Investing Limited, a UK business founded in 2012 and registered with the Financial Conduct Authority under 552016. Being owned by a bank rather than a standalone boutique is the main structural point: the portfolio is held by a regulated UK entity with a compensation scheme behind it.

How risky is it to invest here?+

Widely reported retail loss figures for trading accounts run to a median of 70.15% of accounts losing money, and those numbers describe self-directed trading rather than a Nutmeg portfolio. What you hold here is a basket of funds spread by asset type, not a single position, though any investment can fall in value.

Sources

Compiled from 10 source pages, checked September 26, 2026. We did not open an account.

Nutmeg

Nutmeg

A managed ISA or SIPP portfolio for UK investors who do not want to choose their own funds.

9.2/10See alternatives

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