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Nutmeg / JP Morgan Personal Investing — Key Facts 2026
Portfolio Types and Management Fees 2026
Nutmeg offers four portfolio types, each with management fees that vary based on portfolio size. All portfolios are based on a risk level you choose from 1 (cautious) to 10 (adventurous). The platform actively manages the asset allocation — you don't make individual investment decisions.
Individual Savings Accounts and Account Types
Smart Alpha and Socially Responsible Portfolios
Smart Alpha is Nutmeg's premium portfolio option, where JPMorgan Asset Management actively manages the underlying fund selection — using the same institutional research that manages pension funds and sovereign wealth funds globally. Management fees are 0.75% under £100k, dropping to 0.35% above.
The Socially Responsible portfolio invests in ESG-screened funds that exclude fossil fuels, tobacco, weapons and other controversial sectors. Available across all 10 risk levels at the same 0.75% management fee as the Managed portfolio.
Nutmeg vs DIY Investing Platforms
Pros and Cons
✅ Pros
- Fully managed — no investment decisions required
- JPMorgan backing — institutional-grade Smart Alpha management
- All account types — ISA, Junior ISA, Lifetime ISA, SIPP, GIA
- Socially responsible portfolio option
- Risk levels 1–10 across all portfolios
- Live chat and phone customer service
- FCA regulated, FSCS protected
❌ Cons
- Higher management fees than DIY investing platforms
- No individual stock or fund selection
- Pension performance historically below Vanguard passive funds
- 10-year return 39.7% vs Vanguard's 88.1%
- Rebranding to JP Morgan Personal Investing may confuse users
Nutmeg suits investors who want professional management and don't want to make investment decisions. The JPMorgan Smart Alpha portfolios bring institutional-grade management to retail investors. However, management fees of 0.75% are significantly higher than a simple Vanguard index fund approach — and 10-year performance has been modest. For investors willing to choose a single global index fund themselves, Vanguard at 0.15% will likely deliver better long-term returns.
Frequently Asked Questions
Is Nutmeg now JP Morgan Personal Investing?
Yes. Nutmeg was rebranded as JP Morgan Personal Investing in November 2025 following JPMorgan's acquisition in 2021.
What is Smart Alpha?
Nutmeg's premium portfolio managed directly by JPMorgan Asset Management using institutional investment research.
Does Nutmeg offer a Junior ISA?
Yes — minimum £100, access to all four portfolio types across all 10 risk levels.
This article is for information purposes only and does not constitute financial advice. The value of investments can go down as well as up. Capital at risk. Always seek regulated financial advice before making financial decisions.
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