John Lewis Offers Investments Products Through Partnership with Nutmeg

John Lewis Partnership (John Lewis), which owns and operates two of Britain's best-loved retail brands - John Lewis and Waitrose, announced last week that it has teamed up with the UK’s largest digital wealth manager Nutmeg to launch its very first investment products to customers.

The three new products are designed to help those who otherwise would not consider investing and are the latest to be introduced to John Lewis financial services, following the relaunch of John Lewis’ home insurance and retail credit offers earlier this year.  

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According to John Lewis, the three new products are as follows:

• Junior ISA (Individual Savings Accounts) -- A tax-free investment with a yearly allowance of £9,000, which enables parents, guardians and grandparents to make regular contributions to a Junior ISA for a loved one under the age of 16, which only the child can access when they turn 18 

• Stocks and shares ISA -- Invest money in stocks and shares ISA and customers won’t pay any tax on their returns. Any growth they make on their yearly allowance (£20,000) is tax-free

• ​General Investment -- Customers can invest in a general investment account if they have used up their £20,000 ISA allowance for the year

Customers can start investing from as little as £100 and choose a timeframe and risk level that suits them. Besides, they can check and update their investments at any time online - much like internet banking.