Nutmeg  

Nutmeg sees client numbers soar after losses deepen to £21m

Commentators have said the challenge faced by many robo-advice firms was the heavy cost of advertising and marketing to acquire new customers, while others have predicted they will have to evolve into technology providers in order to survive.

FTAdviser previously revealed that Nutmeg spent £3 of revenue for every one pound of assets it acquired in 2018. 

imogen.tew@ft.com

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