I had a look, but it’s WAY too expensive. I refuse to pay the fees they charge for low cost index tracking funds
3 Likes
I settled with https://www.ratesetter.com/. I don’t worry about fees, because they take them somewhere in between - I get 2.7%, someone pays back a bit more than that, difference is theirs, if I understood that correctly. I would like to know what they get, but I don’t mind overall.
That being said, there’s not much to integrate with. Once Monzo current accounts are there, I’ll continue to use RS, as they can be topped up by card or via bank transfer. I can’t see how integration would make it a lot easier.
Integrations seem much more useful for more regular, ‘dripping’ types of savings, and that would be something I might be keen to do.
2 Likes
I think the idea of collaborating with a casual investment company is fantastic and would really help people manage money. It could be integrated into targets, e.g. have a target to save X amount of money a month and if you manage to do so the money gets sent straight to the investment. It could also help to avoid people going into overdraft, e.g. Monzo could give you a warning when you are running out and maybe suggest you withdraw some money from the investment.
From the comments above I don’t see much rejection of the idea maybe just a relook at the specific service provider.
2 Likes
This sounds greats.
My thoughts:
Please include the good elements of the Nutmeg UI in the Monzo app rather than perhaps design things from scratch. Please bear in mind that users could just as easily go and install the Nutmeg app for iOS, so an integration has to be as slick as it would to use the service outside Monzo as inside, or else there is no point integrating. Not the biggest fan of the current pots view, so it would be a shame to see integrations just dumped there.
I hope Moneyfarm and Wealthify will be considered to give users choice.
1 Like
I too looked at Nutmeg and the fees were too high. Went with money farm who have a good app and interesting monthly market comms,
And most importantly low fees
Can judge performance for yourself
I’d suggest Continuing this analysis on which Ones provide a good customer experience, I’m not sure you can go as far as looking at performance.
1 Like
In case anyone else is wondering, Hugo shared a preview of the Pots view here. Regardless of whether you like this design (which you haven’t actually used yet), I wouldn’t consider the integration ‘dumped’ into the tab, to me it’s clearly had a lot of thought put into it and…the interface looks very simple to use aka “slick” too -
1 Like
Great graphs however I think it is worth advising the uninitiated that “Past performance is no guarantee of future results”.
2 Likes
I’m a happy Nutmeg customer. They aren’t the cheapest but they do offer a good range of investment products (pension, ISA, LISA and non-ISA) with a straightforward interface. The customer support has been good so far too, which, alongside the simplicity, I’m happy to pay a slight premium for.
An integration would really complement Monzo, especially alongside partnerships with cash savings and P2P providers. It would be good within the Monzo app to see how much I have in each of my Nutmeg pots, schedule payments to individual pots, and then see when the next payments are due. It would also be great from an ISA perspective if Monzo could borrow an idea from Nutmeg and keep track of my total ISA investment across ISA, LISA, equity and P2P to ensure that I don’t exceed the total limit.
2 Likes
It’s usually “not a guide to”, which I think’s hilarious. 
1 Like
A post was merged into an existing topic: Pots
Definitely and the performance is variable over time, occasionally going negative, in any case. I wonder if anyone has used these services and come out the end very happy.
I was with Nutmeg for a couple of years and I have now moved to" Weathify" which is a fresh start up and with a wider spread of investment vehicles than Nutmeg.Plus the fact you can start a circle of friends and the more people you add to your circle the charges are reduced for everyone in your circle. The more the merrier it seems.
1 Like
How do you pick which investment vehicles to invest in?
Personally, I’m a big fan of Lars Kroijer who basically says you have no truly informed idea which ones to pick, therefore put it in a world tracker.
No need for additional charges, clever apps, robo advisors… just a really cheap world tracker. The ultimate expression of investment is a zero sum game.
2 Likes
Thank you for that link Dave unknown to me but after watching his initial video there is much food for thought and I shall now run through the rest of his videos.Do you have a world tracker and if so what has been your experience.
I use VWRL although there are cheaper ones (HSBC I think is cheaper). Monevator has a list which is updated regularly. I like Vanguard and am prepared to pay the very small increased charge because they are customer owned and so their success is aligned with their customers.
I was fortunate enough to discover Lars just before the Brexit vote, so my VWRL has had a significant boost from the demise in the value of the pound.
2 Likes
Thank you for your reply I take it that VWRL is a Vanguard investment?? I will take a look at Monevator.
Sorry yes, it’s the ticker for the Vanguard World Tracker
1 Like
- No, I don’t.
- I think it’s expensive, and all you get for its middle-management fees is a flash hip startup styled website/app. Probably all of its users would be better served by cheap trackers.
- I wouldn’t use the integration, since having it integrated with my bank (as I hope Monzo will be soon!) isn’t enough to overcome its problems. I would very much hope that the ‘setup’ for the integration would be buried in settings; I really don’t want to see Monzo start advertising its ‘partners’ to me. Otherwise, by all means, integrate away!
- Boring, un-hip, non-startup, but tried, tested, and much cheaper platforms. Even HL, widely berated for being expensive, is cheaper than Nutmeg. (Lower platform fee, and you’re also in control of which funds to buy, and therefore what their fees are.)
3 Likes
I use Nutmeg and have really enjoyed it so far, just the ease of use and transparency have been great. I’d definitely like to see an integration with Monzo with the ability to view balances and transfer to my ISA’s/Pension seamlessly. If Monzo is going to be my financial control centre I’d want it to have a view on my savings etc as at some point this could be built into automated budgeting/saving prompts etc.
In terms of other services I also currently use Chip which basically monitors your account and uses AI to shift “spare” cash to savings. It seems to be working well so far - I’d like to see Monzo integrate with this too. If anyone is interested - link below and I’ll also shamelessly include my referral code:
6ASOGM 
5 Likes
I have an ISA and a pension with Nutmeg. Am very pleased with them. Think Monzo and Nutmeg would make a great partnership as they are both transparent and keep the customer well informed at all times. Nutmeg’s fees are easy to understand, their customer services are excellent and just seem like a nice little company.
4 Likes