Goldman Sachs acquires Nutmeg stake
While beleaguered Hong Kong advice firm Convoy ups its investment ahead of local push
Nutmeg
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Nutmeg changes tack and jumps on ESG bandwagon
Robo-adviser previously stated it didn’t offer ethical portfolios as there was ‘no set definition’
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Nutmeg ordered to pay ex-client for ‘irritating’ mistakes
The Financial Ombudsman Service has ordered Nutmeg to pay a former client for “numerous mistakes” surrounding direct debits on his pension plan that were likely to cause irritation.
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Hong Kong IFA firm Convoy halts trading following raids
Trading of Convoy Financial Services shares have been suspended on the Hong Kong Stock Exchange (HKSE) following multiple reports authorities have raided offices, homes and arrested executive directors.
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Nutmeg losses widen despite surge in customers
Nutmeg, the online investment manager, saw losses rise to £9.3m ($12.5m, €10.5m) last year despite a surge in customer numbers.
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Nutmeg raises another £12m from Taiwanese bank
Europe’s largest online wealth manager Nutmeg has attracted an additional £12m ($14.8m €14.1m) from Taipei Fubon Bank (TFB) and has revealed its assets under management for the first time.
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Hong Kong IFA firm buys stake in Nutmeg for £24m
Convoy, one of the largest IFA firms in Hong Kong, has paid £24m ($30.2m, €27.8m) for a stake in UK investment platform Nutmeg, in a move praised by UK chancellor Philip Hammond.
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ANALYSIS: With the election over Trump risk heads east
Winter is coming, but instead of flying south, the flock of black swans that has pecked away at 30 years of globalisation this year is heading east toward Europe.
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Robo-advisers will not ‘kill off’ traditional IFAs
Robo-advice will not kill off financial advisers but will instead help them cater to less profitable clients, according to chief executive of digital investment manager Moo.la, Gemma Godfrey.
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Nutmeg preparing to launch free advice chatbot
Online investment platform Nutmeg has confirmed that it is in the testing stages of launching its automated advice service.
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Robo-advisers will take years to be profitable, warns report
Robo-advisers will have to wait up to a decade to make a profit from their clients, according to a new report into the sector.
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PEOPLE MOVES: Lombard Int’l, Axa IM, Nutmeg…
Lombard International has named a new chief executive for its US operations, while Axa IM has announced a senior departure. Nutmeg’s chief executive has stepped aside, with a Columbia Threadneedle veteran bowing out of the industry after a 32-year career.