John Lewis teams up with Nutmeg to launch investment products

John Lewis has launched its first investment products to customers after teaming up with digital wealth manager Nutmeg.

The retailer said the three new products form part of the John Lewis financial services portfolio and aim to help people who otherwise would not consider investing.

Amir Goshtai, John Lewis financial services director,  said: “The pandemic has been tough for many, but others have managed to save more every month. They’ve also reassessed how they want to spend their money – more than ever, they want to secure their financial future and that of their families.”

The move follows the relaunch of John Lewis Partnership’s home insurance and retail credit offers earlier this year and forms part of its plans for 40% of its profits to come from outside retail by 2030.

John Lewis said the junior ISA, stocks and shares ISA and general investment products all invest in funds with high environmental, social and governance standards to enable customers’ money to be focused on businesses that score highly in the areas of carbon emissions, climate change, renewable energy, social impact and ethical practices.

Goshtai added: “Our products allow people to put money aside and to take that first step into what is often perceived as the complicated world of investments. This is where the trust and love that customers have for our brand combined with Nutmeg’s expertise can make a difference, while making John Lewis even more relevant for life’s big moments; whether that’s saving for a home or preparing for the arrival of a new baby.”