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Nutmeg passes £1bn in assets, doubles customers




By Daniel Lanyon on 21st November 2017


The UK’s first online wealth manager, now manages more than £1bn in investments for UK investors.

 

Nutmeg has become the first UK digital wealth manager to reach £1bn in assets under management (AUM).

 

The firm says it has seen strong growth in the last 12 months, more than doubling its number of customers to 48,700.

 

Nutmeg’s assets in the past year have grown by 93%, outperforming the sector as whole, which has grown by 17 per cent over the same period.

 

Martin Stead, CEO, Nutmeg, says the way people save, invest and manage their money is changing.

 

“When we started Nutmeg, there was no such thing as online wealth management in the UK. Five years on, our model is now becoming a mainstream option for smart investors.”

 

The firm is gearing up for further rapid growth, he adds.

 

“Our business is fundamentally about helping people to achieve their big goals in life – such as buying a house, paying for education, saving for a rainy day and preparing for retirement.”

 

The UK market’s second largest online wealth manager, Scalable Capital, passed €500m in assets two weeks back.

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