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Provider review

Nutmeg (JP Morgan)

Last verified: Q1 2026 · Source: provider fee page
Fee model
0.75% (fully managed), 0.35% (fixed allocation), 0.45% (smart alpha)
Percentage (varies by portfolio type) · SIPP available · Retail only
Annual platform fee by pot size
£25,000 pot
£188/yr
0.75% effective
£50,000 pot
£375/yr
0.75% effective
£100,000 pot
£750/yr
0.75% effective
£250,000 pot
£1,875/yr
0.75% effective
£500,000 pot
£3,750/yr
0.75% effective
£1,000,000 pot
£7,500/yr
0.75% effective
Platform fee only. Fund charges (OCF) are additional: 0.17%–0.31% on top of the management fee
Note: Fees shown use the fully managed portfolio rate (0.75%). The fixed allocation portfolio is 0.35% and smart alpha is 0.45%. Your actual fee depends on which portfolio type you choose. Fund costs (0.17%–0.31%) apply on top.

Nutmeg was the UK's first robo-adviser and is now owned by JP Morgan. The platform builds a diversified portfolio based on your risk profile and manages it automatically. The 0.75% fee for the fully-managed service is high by SIPP standards — add fund costs and you're paying ~1% total, which is more than double what a Vanguard LifeStrategy fund costs on Vanguard's own platform. Nutmeg's value proposition is convenience and professional portfolio management. The fixed allocation option at 0.35% is more competitive. Nutmeg is suited to investors who want a managed approach without the cost of a financial adviser, but who don't mind paying more than DIY platforms.

Strengths
  • +Fully managed portfolios — no investment decisions needed
  • +JP Morgan backing
  • +Clean interface and app
  • +Socially responsible options
Limitations
  • –Expensive — 0.75% + fund costs for managed
  • –No individual fund or share selection
  • –Less control than self-directed platforms
  • –Lower-cost alternatives exist for passive investors
Details
Fund rangePre-built portfolios only — no individual fund or share selection
Minimum investment£500
Typical fund OCF0.17%–0.31% on top of the management fee
SIPPYes
Compare Nutmeg with
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Things to consider
  • •Fees shown are platform fees only — you also pay fund-level charges (OCF) on top, which vary by fund choice.
  • •Fee structures change without notice. Always verify the current fee on the provider's website before making any decision.
  • •The cheapest provider is not necessarily the best fit — consider fund range, customer service, platform features, and the specific funds you want to hold.
  • •Transferring a pension may involve exit fees, loss of guaranteed benefits, or loss of employer contributions. Check before you transfer.
  • •This page is factual information based on published fee schedules, not a recommendation to use or avoid any provider.
  • •If you're unsure which provider is right for you, speak to an FCA-regulated financial adviser.

This calculator provides estimates based on 2025/26 tax rates and is not financial advice. Scottish taxpayers are subject to different income tax rates and bands. The calculations assume your salary is your only source of income and do not account for benefits in kind or other taxable income.

For personalised guidance on your pension contributions, speak to an FCA-regulated financial adviser. You can find one via Unbiased or VouchedFor.