Working out the best way to invest your money often starts with choosing the best investment platform. In this article, we compare robo-adviser Nutmeg and investing app Dodl*, looking at their key features, charges and the types of investors they might be best suited for.
We also show you how to access Money to the Masses' offer for Nutmeg, which gives readers 12 months of waived management fees (terms and conditions apply).
Dodl vs Nutmeg - which is better?
| Dodl | Nutmeg | |
| Services | Investing app
Ready-made investment portfolios managed by AJ Bell Choice of 30 funds and 80 UK & US stocks |
Fixed Allocation portfolios
Fully Managed portfolios Socially Responsible portfolios Smart Alpha portfolios Thematic Investing |
| Products | ISA, GIA (General Investment Account), Lifetime ISA, SIPP | ISA, GIA (General Investment Account), Lifetime ISA, Junior ISA and SIPP |
| Minimum investment | £100 or £25 monthly investment | £500 (£100 for JISA and LISA) |
| Platform fees | 0.15% annually (minimum £1 per month per product)
Additional underlying fund charges |
On the value of your portfolio up to £100,000 - 0.75%
Over £100,000 - 0.35% Additional underlying fund charges |
| Trustpilot Score | 4.5 out of 5.0 | 3.7 out of 5.0 |
| Money to the Masses offer | n/a | No management fees for 12 months (terms and conditions apply) |
Dodl vs Nutmeg - services
Dodl is an investing app with a streamlined selection of potential investments, with 30 funds and 80 UK & US shares available for users to include in their portfolios. Dodl also offers seven ready-made investment portfolios which are managed by AJ Bell. Bear in mind, however, that with Dodl, you have to be solely a UK resident and citizen to open an account and invest. This is due to reporting requirements and Dodl's business model. If you can't open an account with Dodl, you may be able to open one with their parent platform AJ Bell instead.
Nutmeg, meanwhile, has a range of different ready-made, risk-rated portfolios, including some that offer socially responsible investing. As well as its standard range, Nutmeg also has Fixed Allocation and Smart Alpha portfolios, which target different types of investors, depending on how actively they want their portfolios managed. Nutmeg also now offers Thematic investing allowing investors to invest in future trends through one of three future-focussed themes. These are Technological Innovation (including exposure to the growing use of A.I.), Resource transformation and Evolving Consumer. Nutmeg's thematic investment style provides a globally diversified, risk-adjusted portfolio with a tilt (up to 20% of equity exposure) towards your chosen theme.
Dodl vs Nutmeg - products
Both Dodl and Nutmeg have stocks and shares ISAs, General Investment Accounts, Lifetime ISAs and SIPPs. Nutmeg also offers a Junior ISA, which Dodl currently doesn't have in its range. If you are particularly interested in Junior ISAs, you may find our round up of the best JISAs interesting.
Dodl vs Nutmeg - minimum investment
If you want to open an account with Nutmeg, you will have to start with a larger amount than with Dodl. While Nutmeg requires a lump sum of £500 (or £100 for Junior ISAs and Lifetime ISAs), Dodl allows you to start with either £100, or a monthly investment of £25.
Dodl vs Nutmeg - Trustpilot reviews
In 2024, Dodl has a Trustpilot score of 4.5 out of 5.0 based on 144 reviews. Approximately 72% of reviewers gave Dodl an "Excellent" score citing its excellent customer service and ease of use. However, 10% rated it as "Bad" with some citing a slow complaints process. Nutmeg, on the other hand, has a 3.7 out of 5 score based on 1,800 reviews. It scored lower than Dodl, but it does have a lot more reviews which may partly explain the discrepancy.
Approximately 69% of reviewers gave Nutmeg an "Excellent" score citing its efficient chat function and outstanding support team. But, another 15% rated it as "Bad" citing difficulties with withdrawing pensions or transferring funds.
Dodl vs Nutmeg - platform fees
Dodl's* fee model makes it one of the cheapest platforms in the UK, alongside Vanguard. It charges just 0.15% per annum, per account, with no subscription fee or commission for buying or selling the underlying holdings. However, although the platform fee is low, there is a minimum payment of £1 per month per product, which means you'll ultimately have to invest more than £8,000 to get the 0.15% rate.
Nutmeg, meanwhile, charges 0.75% on the value of your portfolio up to £100,000 and 0.35% on amounts over that. However, with Money to the Masses' reader offer, you can enjoy no management fees for the first 12 months.
Summary - Dodl vs Nutmeg
If you are looking for a robo-adviser that can take portfolio construction out of your hands and create a balance of investments that match your appetite for risk, Nutmeg is an attractive option. However, if you are happy to build your own portfolio - or choose from one of the AJ Bell ready-made portfolios that is available on the app - then Dodl* will undoubtedly work out cheaper. You also need to decide whether the simplified, app-only approach of Dodl is right for you, or whether you prefer the slightly more traditional approach that is available through Nutmeg.
If a link has an * beside it this means that it is an affiliated link. If you go via the link Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. But as you can clearly see this has in no way influenced this independent and balanced review of the product. The following link can be used if you do not wish to help Money to the Masses or take advantage of any exclusive offers - Dodl
