Schroders buys stake in online wealth manager Nutmeg

clock

Schroders is among a group of investors to have acquired a $32m (£18.8m) stake in online wealth manager Nutmeg.

Schroders is joined by other high profile investors including Michael Spencer, chief executive of interdealer broker ICAP. Massimo Tosato (pictured), executive vice-chairman at the fund group, will join the Nutmeg board as a result of the move, according to the FT. "This financial investment in an innovative and rapidly growing on-line wealth management business will allow us to engage in the digital changes that are influencing the asset management industry for years to come," Tosato said. Existing investors in the simplified discretionary management service, headed by former Brew...

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

Partner Insight: Beyond 60/40

Partner Insight: Beyond 60/40

Invesco
clock 25 March 2024 • 5 min read
'Fundamental shift': Why transparent investing really matters

'Fundamental shift': Why transparent investing really matters

‘There needs to be a concerted shift towards greater openness’

Simon Camilleri
clock 18 March 2024 • 4 min read
Partner Insight: Passive and active — the case for both

Partner Insight: Passive and active — the case for both

Invesco
clock 18 March 2024 • 4 min read