Ex-Brewin director launches online wealth business
Brewin Dolphin divisional director Nick Hungerford founded the online investment company with aim of creating ‘the Facebook of finance’.
Saracens chairman Wray takes 'significant' stake in Nutmeg
Nigel Wray, the serial entrepreneur and chairman of Saracens rugby club, took a 'significant' stake in Nutmeg.
Aberdeen loses to ‘smart’ Schroders in Nutmeg deal
Fund manager Schroders invested in Nutmeg. Schroders is part of a group of high-profile backers who have invested a combined £18.9 million in the robo-adviser. The group also included Carphone Warehouse founder Charles Dunstone and Icap chief executive Michael Spencer.
Schroders executive chairman Massimo Tosato took a seat on Nutmeg’s board, with Aberdeen choosing not to invest.
Nutmeg plans pension launch as it puts £19m to work
Nutmeg announced it would use the £18.9 million it has attracted from high-profile backers to double headcount and launch a pension product.
Nutmeg posts £3.6m loss as it invests for future
Nutmeg saw losses almost double to £3.6 million in 2013, as the business invested substantial sums in infrastructure to build a scalable business.
Nutmeg aims to shake up Sipps with pension launch
Nutmeg was to take on the likes of Hargreaves Lansdown in the Sipp market with the launch of a pension product.
The online discretionary manager launched of its personal pension service, which is available for a minimum investment of £5,000.
Nutmeg suffers client data breach
A number of Nutmeg customers’ personal data was emailed to the wrong people due to a systems glitch.
The error was due to a fault in the online investment website's coding and affected 32 customers.
Nutmeg cuts charges and simplifies fee structure
Nutmeg cut its management fees across the board and reduced the number of fee bands from six to four in an effort to simplify its charging structure.
Nutmeg gets green light for advice plans
The Financial Conduct Authority (FCA) granted online investment manager Nutmeg permission to carry out regulated advice.
Nutmeg slashes minimum investment by 50%
Nutmeg cut its minimum investment requirement to £500 from £1,000
Nutmeg names new CEO as Hungerford steps down
Nutmeg named Martin Stead as its new chief executive officer as Nick Hungerford took up a non-executive director role.
Nutmeg waives management fee for Lifetime ISAs
Nutmeg waived the portfolio management fee for new customers planning to invest in its Lifetime ISA (Lisa) wrapper ahead of their launch in April 2017.
Nutmeg appoints COO and commercial director
Nutmeg appointed Bill Packman as chief operating officer (COO) and Catherine Prentke as commercial director.
Nutmeg eyes fresh capital injection as losses widen to £9m
Nutmeg losses widened to £8.9 million in 2015. This represented a steep increase on the £5.3 million and £3.6 million loss the online wealth firm incurred in 2014 and 2013, respectively.
Nutmeg raises £30m and forms key Asian strategic alliance
Nutmeg raised a further £30 million from investors and formed a strategic partnership with a leading Asian advice firm.
Hong Kong’s largest independent financial advisory firm, Convoy, provided the bulk of the latest investment, pumping £24 million into Nutmeg.
Nutmeg reveals AUM as it raises another £12m
Nutmeg attracted an additional £12 million from investors and revealed its assets under management for the first time.
The cash injection came entirely from Taipei Fubon Bank (TFB), a subsidiary of Taiwan’s second largest financial services firm Fubon Financial Holdings.
Nutmeg, at the time, had attracted a total of £71 million over five years.
Nutmeg to overhaul fee structure and launch fund range
Nutmeg reformed its fees and launched a new fund range as it put the total £42 million it raised from investors in 2016 to work.
Nutmeg partners with challenger bank
Nutmeg collaborated with digital challenger bank Fidor for a fintech service launching into the UK.
The online wealth firm joined peer-to-peer lender Seedrs as the inaugural partners for the service, which provides UK customers with an extensive suite of fintech products and services, alongside alternative investment opportunities.
Nutmeg loss widens to £9.3m as it plans major UK push
Nutmeg's 2016 losses widened to £9.3 million as it continued to invest heavily in its UK business.
The figure, revealed in its accounts to December 2016 published at Companies House, followed the £8.9 million loss it posted in 2015. Its operating expenses rose from £10.8 million to £11.9 million over the year.
Nutmeg hits £1 billion on client surge
Nutmeg's asset under management rose above £1 billion on the back of a surge in customers.
Client funds have near doubled year-on-year, rising 93%, Nutmeg said at the time.