Just under a year after it piloted its personal advice operation, Nutmeg has launched a financial planning service.
Lisa Caplan, head of financial advice at Nutmeg, commented on the firm’s website that the service was being rolled out because “it was plain to see that people were in desperate need of affordable professional advice” and many “want a straightforward view” of their financial affairs.
“We’ve decided to offer a distinct planning service alongside our comprehensive financial advice offering,” she added.
“Since the planning service is all about giving you guidance, rather than regulated financial advice, it’s less costly for us, and I am glad to say we can offer it to you at a lower cost than we currently charge for full financial advice.”
Prices
According to its website, Nutmeg clients will be able to build a plan with a financial coach for £275 ($343, €312) including VAT, compared to “comprehensive financial advice” available for £575 including VAT.
Caplan added: “If you use our planning service, you’ll feel able to make better-informed investment decisions. You may feel that’s all you need.
“That said, we’re still huge advocates of fully-regulated financial advice.
“It’s the only way to get in-depth, specific support that’s tailored to every aspect of your financial situation.
“So, if you’ve already benefited from the planning service, and you do decide you want to take up comprehensive financial advice, you’ll only have to pay the difference between the two services.
“You’ll never have to pay for planning twice.”
