Nutmeg never actually handles your money. Like many investment managers, we believe that the safest way of looking after your investments is to appoint “custodian banks”, which hold your money and the investments we purchase for you. Our asset custodian is StateStreet Corporation with £28 trillion in assets under custody. StateStreet serves thousands of investment managers, high-net-worth individuals and major banks worldwide. Your assets are in good hands.
StateStreet keeps all your investments in a segregated account for added security and will never lend it to third parties or mix it with StateStreet's or Nutmeg's own assets.
Any uninvested cash is kept with Barclays Bank where it is segregated from Barclays' and Nutmeg's own funds.
Your investments and any uninvested cash are therefore protected in the unlikely event that either Nutmeg, State Street or Barclays are declared insolvent. If this were to happen, your segregated account would be re-assigned to another financial institution and you would be kept informed.