You are here: Home - Investing -

Schroders buys stake in online wealth manager Nutmeg

Written by:
Schroders is among a group of investors to have acquired a $32m (£18.8m) stake in online wealth manager Nutmeg.
Schroders buys stake in online wealth manager Nutmeg

Schroders is joined by other high profile investors including Michael Spencer, chief executive of interdealer broker ICAP.

Massimo Tosato (pictured), executive vice-chairman at the fund group, will join the Nutmeg board as a result of the move, according to the FT.

“This financial investment in an innovative and rapidly growing on-line wealth management business will allow us to engage in the digital changes that are influencing the asset management industry for years to come,” Tosato said.

Existing investors in the simplified discretionary management service, headed by former Brewin Dolphin man Nick Hungerford, include economist John Kay.

Now home to 35,000 users, Nutmeg said customer acquisition in Q1 this year was up “350%” on the comparable 2013 period. Total assets under management remain undisclosed.


Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Big flu jab price hikes this winter: Where’s cheapest if you can’t get a free vaccine?

Pharmacies, supermarkets and health retailers are starting to offer flu jabs ahead of the winter season, but t...

Is now the time to fix your energy deal?

Fixed energy tariffs all but disappeared during the energy crisis. But now they are back with an increasing nu...

Everything you need to know about the pension triple lock

Retirees are braced to receive another bumper state pension pay rise next year due to the triple lock mechanis...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

The best student bank accounts in 2023: Cash offers, tastecards and 0% overdrafts

A number of banks are luring in new student customers with cold hard cash this year – while others are compe...

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Money Tips of the Week