How company in Vauxhall was a good fit for Chancellor before his Mansion House speech

Chancellor Philip Hammond chose a cutting edge online investment business to visit before his Mansion House speech on the economy and the government’s budget last night.
The man in charge of the nation’s finances was at Nutmeg, in Vauxhall, yesterday, hearing about how important high-tech financial companies are for the economy – a point he stressed afterwards in his speech yesterday.
He demanded the City strike new partnerships with the global network of online companies – and that is exactly what he was witnessing in Durham Street hours before.

The Chancellor met Nutmeg’s web designer, investment team, members of their customer support team and a product manager. The firm is now managing over £1.2bn in assets for more than 50,000 UK investors.  ​

The company re-energised the market by becoming the UK’s first online discretionary wealth management company, making it available to more people. The company designs

risk assessment, financial planning and ongoing suitability and monitors clients’ outcomes.
They are also committed to simplifying industry jargon to create a generation of new investors.

Nutmeg’s chief executive Martin Stead said: “Being able to host the Chancellor on the day of his Manson House speech was a great privilege and shows that innovative fintech companies like ours are taking centre stage. We discussed the role for a high-quality, low cost wealth management service in addressing the savings gap; the need for more financial education on investments; and how we’re using technology as a catalyst to change the status quo that just doesn’t make sense for most consumers.

“It’s great to see the Chancellor show his support for the fintech industry and the role it plays in the UK economy.”

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