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...
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