We can supply letters to those customers who are subject to special rules about how they invest, confirming that they cannot chose the specific investments held within their portfolios.
People who work in certain professions (particularly financial services, consulting, legal and accounting firms or government departments) are often subject to restrictions on the types of securities that they can invest in. These restrictions may prevent an individual holding certain securities, enforce a minimum holding period, restrict trading periods, force the sale of a security and so on.
Generally, discretionary investment accounts — like Nutmeg — are exempt from these rules as the decisions about which underlying securities to invest in are made by the investment manager, not the individual. This generally has the effect of making your investment choice greater and your life easier, as you may no longer need to seek approval from your employer for any investment transactions made by Nutmeg. This does of course depend on the personal account dealing rules to which you are subject and not all employers have the same requirements. If you’re not sure about your obligations, we suggest that you consult your employment contract or your company's compliance department.
If you are subject to personal account dealing rules we can provide a confirmation letter for your employer's HR or compliance department regarding the discretionary managed nature of Nutmeg's services. Request the letter by contacting us at firstname.lastname@example.org or send us a Nutmail once signed in.