Wednesday, 31 October 2018 09:28

Robo firm Nutmeg launches full advice pilot

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Lisa Caplan Lisa Caplan

Robo-advice firm Nutmeg is piloting a full financial advice service.

The move came more than two years after the FCA granted the online investment firm permission to carry out regulated advice.

The new service will offer a one-on-one review with a professional adviser and a tailored financial advice with personal recommendations.

The initial conversation will be free and then, if a client decides to continue with tailored recommendations, the cost will be £350 including VAT.

 

Lisa Caplan, head of financial advice, said: “The scarcity of financial advisers, prohibitive costs and an industry happy to neglect swathes of the population, means many people are faced with making big financial decisions on their own.”

The firm says the pilot will be subject to change and will incorporate the feedback of its customers.

Ms Caplan said: “We’re assessing the same financial circumstances that a traditional financial adviser would, but by using technology we’re giving people the freedom to do it at a time that suits them, at a fraction of the cost they’d face from an IFA.”

She added: “Everyone has goals in life.

“From retiring early, to investing for your children, or simply making the most of your money.

“We think careful Financial Planning can help you get there.”

The firm’s website read: “The process will initially involve an online questionnaire about your finances.

“Then, if we think you could benefit from financial advice, we’ll have an initial conversation with you to make sure we understand your situation and goals, and to discuss how we can help.

“If you agree to go ahead we’ll follow this up with a written report, outlining our advice which we’ll also talk you through over the phone.

“The report will help you understand your financial circumstances.

“It will tell you what you can do to make the most of your situation and help you meet your goals.

“We’ll tell you how and where to invest your money for any Nutmeg products and we’ll help you to implement our recommendation.”

 

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