Introducing our personal financial advice service

Typically, financial advice can cost anywhere from £1,000 – £4,000, which is completely out of the realms of possibility for a lot of people.

We want more people to have the chance to see what financial advice could do for them, so we’re piloting a new service at a fraction of the cost. We’ll assess customers financial circumstances and by using technology we’ll give people the freedom to do it at a time that suits them.

Our head of financial advice, Lisa Caplan, has worked in financial services for over ten years and is a chartered financial planner, so she’s perfectly positioned to lead this project. Here’s what she had to say about the service:

“I’ve seen the difference that good financial advice makes, and I’ve always felt strongly that everyone should have easy access to it. It’s not just a question of cost. The process can be slow and inconvenient. That’s why I was so keen to launch a service that is easy to use with a reasonable price point.

“We’ve designed a simple process that begins with a questionnaire our customers can complete in under 20 minutes. After it’s been submitted, my team and I assess the information given and have an initial conversation with the customer to make sure we understand their situation and goals, and to discuss how we can help. If they agree to go ahead we’ll follow this up with a written report, outlining our advice which we’ll also talk them through over the phone.

“We will, of course, be advising customers to use Nutmeg products where appropriate. I can tell you if investing isn’t right for you and you could perhaps benefit from putting your money into a product that we don’t offer – such as critical illness cover – but I can’t advise you which provider is best. However, I can tell you if you would benefit from moving your pension to Nutmeg.  I can tell you what risk level is right for you and how much you should be contributing every month to have the retirement you want.”

Our advice service is currently in its pilot phase. We want it to be shaped by the people that are going to use the service. We see it as an evolving service that incorporates the feedback of customers to develop and enhance as investors’ needs change.

Head to our advice page to register your interest and find out more.

Risk warning

Remember, with investment your capital is at risk. The value of your portfolio could go down as well as up and you may get back less than you invest.

Source: Candid Financial Advice, 2017