Online discretionary fund manager Nutmeg has launched a high profile new advertising campaign on London Underground attacking the fund management industry.
The direct-to-consumer platform has used adverts depicting fund managers as “fat cats”, adding that its own DFM proposition has no hidden charges.
The advert, which features the slogan “Does your investment manager skim off a fortune?” will feature on all London underground lines from Monday morning having launched on selected lines today.
The firm is targeting investors with assets between £30,000 and £100,000.
Its charges range from 1 per cent for assets of £1,000 to 0.3 per cent for assets of £500,000 and above
Nutmeg chief marketing officer Iqbal Gandham says: “We think there should be a move towards transparency of charges in the industry and that is what we think Nutmeg offers to investors through our service.
“We think we will begin to see more and more services similar to Nutmeg launching in the coming year.”
Nutmeg, which launched in October 2012, says it will publish performance figures for its service in the next three weeks.