Online investment manager Nutmeg is piloting a fixed-fee financial advice service in a bid to "open up the market" at what it said would be "a fraction of the cost".
The firm said it would offer an initial chat to customers free of charge and then charge a fixed-fee of £350 if people decided they wanted "tailored recommendations" through qualified financial advice. It added: "Like all developments at Nutmeg, the financial advice pilot will be an evolving service that incorporates the feedback of customers to develop and enhance as investors' needs change." Nutmeg head of financial advice Lisa Caplan said: "We're assessing the same financial circumstances that a traditional financial adviser would, but by using technology we're giving people the fr...
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