Nutmeg vs Moneybox vs Wealthify: Best Robo-Advisor for Migrants (2026)
Quick answer: Comparing Nutmeg vs Moneybox vs Wealthify in 2026, Nutmeg (now branded J.P. Morgan Personal Investing) suits migrants with £500+ to invest who want the widest choice of portfolio styles. Moneybox is the strongest pick for beginners who want to start from £1 and are eyeing a house deposit through its Lifetime ISA. Wealthify offers the simplest flat 0.6% fee and the most developed ethical investing range. None of these platforms require British citizenship, settled status or a minimum time in the UK — only UK tax residency.
Moving to the UK often means starting your financial life from zero: no credit history, no pension, and no idea which investment platform to trust with your first few hundred pounds. Robo-advisors were built for exactly this problem. You answer a few questions about your goals and appetite for risk, and the platform builds and manages a diversified portfolio for you — no spreadsheets, no stock-picking, no jargon.
Nutmeg, Moneybox and Wealthify are three of the most recommended robo-advisors for UK residents, and all three are open to migrants on any visa type, as long as you are a UK resident for tax purposes and old enough to open an account (18, or 16 for a Cash ISA). This guide breaks down how they actually compare on fees, minimums, account types and who each one suits best.
Nutmeg Is Now J.P. Morgan Personal Investing — What Changed?
If you have seen “Nutmeg” mentioned in older reviews, note that the brand was retired on 3 November 2025. JPMorganChase, which bought Nutmeg in 2021, rebranded the entire service to J.P. Morgan Personal Investing. Existing Nutmeg customers did not need to do anything — their portfolios, ISAs and pensions carried over unchanged under the new name, the same FCA authorisation, and the same underlying investment team. Because so many people still search for “Nutmeg”, this guide uses both names interchangeably.
What Is a Robo-Advisor, and Why It Suits Migrants
A robo-advisor is an FCA-regulated investment platform that builds you a ready-made portfolio of funds based on your risk profile, then automatically rebalances it over time. You are not picking individual shares — a professional investment team or algorithm does that for you within a fund. For someone newly arrived in the UK, this removes two of the biggest barriers to investing: not knowing which funds to choose, and not having the time or confidence to manage a portfolio yourself.
All three platforms in this comparison let you invest inside a Stocks and Shares ISA (a tax wrapper that shelters your gains and dividends from UK tax, with a £20,000 annual allowance for 2026/27), and none of them ask about your immigration status beyond confirming you are a UK tax resident with a National Insurance number. Being on a visa with a “no recourse to public funds” condition does not stop you investing your own earned or saved money — an ISA or GIA is not a public fund.
Nutmeg vs Moneybox vs Wealthify at a Glance
| Provider | Best For | Minimum to Start | Typical All-In Fee | Account Types |
|---|---|---|---|---|
| Nutmeg (J.P. Morgan Personal Investing) | Larger pots, widest portfolio choice | £500 (£100 for LISA/JISA) | ~0.45%–1.06% depending on style | ISA, JISA, LISA, GIA, Pension |
| Moneybox | Beginners and first-time buyers | £1 | £1/month + 0.45% + fund costs (~0.6%–1.1%) | ISA, JISA, Cash ISA, LISA, GIA, Personal Pension |
| Wealthify | Simplicity and ethical investing | £1 | Flat 0.6% + ~0.16%–0.22% fund costs | ISA, JISA, Cash ISA, GIA, Pension |
Full Comparison
1. Nutmeg (J.P. Morgan Personal Investing)
Nutmeg pioneered UK robo-investing in 2012 and now manages the money of more than 265,000 clients. It offers the widest range of portfolio styles of the three: Fully Managed, Fixed Allocation, Smart Alpha, Socially Responsible and Thematic.
Fee Structure
| Portfolio Style | Management Fee | Fund Costs |
|---|---|---|
| Fixed Allocation | 0.45% up to £100k, 0.25% above | ~0.15%–0.20% |
| Fully Managed / Smart Alpha / Socially Responsible | 0.75% up to £100k, 0.35% above | ~0.17%–0.31% |
Why We Rate It
- Widest choice of account types, including a Lifetime ISA and Junior ISA alongside a full pension
- Fixed Allocation portfolios are genuinely competitive on cost against Moneybox and Wealthify
- Long track record and the financial backing of J.P. Morgan
The Drawbacks
- £500 minimum for the standard ISA, pension and GIA locks out very small starting pots
- Fully Managed and Smart Alpha fees are the highest of the three platforms compared here
2. Moneybox
Moneybox built its name on round-up investing — rounding your card purchases up to the nearest pound and investing the spare change. It has since grown into the UK’s biggest Lifetime ISA provider, having helped over 100,000 first-time buyers onto the property ladder.
Fee Structure
| Fee Type | Amount | Notes |
|---|---|---|
| Subscription | £1/month | First 3 months free; waived with £5,000+ held across Moneybox products |
| Platform fee | 0.45% a year | 0.15% if you choose Moneybox’s own in-house funds |
| Fund costs | 0.12%–0.70% | Varies by fund chosen |
Why We Rate It
- You can start with just £1 — genuinely useful if you are still building up savings
- The strongest Lifetime ISA on the market for a house deposit, alongside a well-rated Cash ISA
- Round-up investing builds a habit without you noticing the money leaving your account
The Drawbacks
- The combined £1/month plus 0.45% fee structure is comparatively expensive on small balances
- Fewer portfolio styles than Nutmeg — three risk bands rather than five distinct strategies
3. Wealthify
Wealthify, owned by Aviva since 2017, keeps its pricing deliberately simple: one flat management fee regardless of your balance or portfolio choice. It also has one of the most developed ethical investing ranges of any UK robo-advisor.
Fee Structure
| Fee Type | Amount | Notes |
|---|---|---|
| Management fee | 0.6% flat | Same rate on ISA, JISA and GIA regardless of balance |
| Pension (SIPP) fee | 0.6% up to £100k, 0.3% above | Tiered above £100,000 |
| Fund costs | ~0.16%–0.22% | Slightly higher for the ethical portfolio range |
Why We Rate It
- One flat fee is easy to understand and predict — no tiers to track as your pot grows
- Ten portfolio choices across five risk levels, including a dedicated ethical range
- £1 minimum makes it as accessible as Moneybox for a first-time investor
The Drawbacks
- No Lifetime ISA, so it is not the right home for a first-home deposit strategy
- The flat 0.6% fee is more expensive than Nutmeg’s cheapest tier once your pot grows past £100,000
How to Choose the Right One for You
If you are saving towards a first home in the UK, Moneybox’s Lifetime ISA is the standout feature among the three — it comes with a 25% government bonus on top of your contributions. If you already have £500 or more to invest and want the broadest set of tools, including a pension and a Lifetime ISA in one place, Nutmeg (J.P. Morgan Personal Investing) is worth the higher fee. If you simply want the cheapest, most predictable way to start investing small amounts without thinking about tiers, Wealthify’s flat fee is the easiest to plan around.
Whichever you choose, a robo-advisor is not the cheapest way to hold a simple index fund — a DIY platform like Trading 212 or Vanguard Investor will usually cost less. You are paying the extra 0.3%–0.6% a year for someone else to choose and rebalance the portfolio for you, which is a fair trade if you want a hands-off experience while you settle into life in the UK. If you are still deciding whether investing is right for you at all, our guide to what investing is and how it works is a good place to start, and our roundup of the best investment platforms for beginners covers the DIY alternatives in more depth.
How to Get Started
- Get your National Insurance number sorted first. All three platforms need it to open a tax-efficient account, and you can start work before it arrives — see our guide on opening a UK bank account if you have not done this yet.
- Decide which wrapper you need. An ISA for general tax-free growth, a Lifetime ISA if you are buying your first home under £450,000, or a pension if you are focused on retirement.
- Complete the platform’s risk questionnaire honestly. This determines which portfolio you are placed into, so do not overstate your appetite for risk to chase higher returns.
- Set up a regular contribution. Even £25–£50 a month builds a meaningful habit and reduces the impact of trying to time the market.
Frequently Asked Questions
Can I use a robo-advisor if I am on a visa with no recourse to public funds?
Yes. Investing your own income or savings through an ISA, GIA or pension is not accessing public funds. The “no recourse to public funds” condition relates to state benefits and housing assistance, not to what you do with money you have earned or brought into the UK.
Is my money safe with Nutmeg, Moneybox or Wealthify?
All three are authorised and regulated by the Financial Conduct Authority. Cash held while awaiting investment is protected up to £120,000 under the Financial Services Compensation Scheme, and your investments themselves are ring-fenced in your name, separate from the platform’s own assets, should the firm fail. Investments can still fall in value — FSCS protection covers firm failure, not market losses.
Do I need to have lived in the UK for a certain number of years to open an ISA?
No. There is no minimum length of UK residency to open an ISA with any of these providers. You need to be a UK resident for tax purposes, over 18 (16 for a Cash ISA), and have a National Insurance number.
Which is cheapest for a small amount of money?
For balances under a few thousand pounds, Wealthify’s flat 0.6% fee generally works out cheaper than Moneybox’s combined £1/month plus 0.45%, and both are more accessible than Nutmeg’s £500 minimum for a standard ISA.
Final Verdict
There is no single winner in the Nutmeg vs Moneybox vs Wealthify comparison — the right choice depends on your starting pot and your goal. Choose Moneybox if you are starting small or saving for a first home. Choose Wealthify if you want the simplest fee structure or care about ethical investing. Choose Nutmeg (J.P. Morgan Personal Investing) if you already have £500+ and want the broadest set of accounts under one roof.
Compare Wealthify’s portfolios →
Financial Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult a qualified financial adviser before making investment decisions.
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