'Robo-adviser' Nutmeg passes £2bn AUM across 80,000 customers

First in sector

Hannah Godfrey
clock • 1 min read

Digital wealth management firm and so-called ‘robo-adviser’ Nutmeg has reached £2bn in assets under management (AUM) across nearly 80,000 customers.

In its 2019 results, released on Friday morning (31 January), the robo-adviser revealed it had seen 41% year-on-year growth and a 60% increase in customers since reaching £1bn AUM in November 2017.  The robo-adviser's market share now stands at 36%. Nutmeg said the results demonstrated it had "significantly outperformed" the sector as a whole, which grew by 13% over the same period.   In its pursuit of scale, by the end of 2017, the sector pioneer had posted losses of £41.8m since its inception in 2011. In its latest results the company did not give a more recent indication of its pro...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

NextWealth MD Hopkins on staying ahead of advice sector changes, data challenges and flattening MPS fees

NextWealth MD Hopkins on staying ahead of advice sector changes, data challenges and flattening MPS fees

Making technology work better

Katrina Lloyd
clock 03 July 2025 • 9 min read
IFAs look to boost clients' private markets exposure

IFAs look to boost clients' private markets exposure

Expect increase in stock market volatility

Jen Frost
clock 02 July 2025 • 2 min read
Winds of change: Private markets access for retail investors

Winds of change: Private markets access for retail investors

Investing in LTAFs, accessibility aside, needs careful consideration

Dorian Hughes
clock 02 July 2025 • 5 min read