6 months 0% Portfolio Management Fees Terms and Conditions

1. Promotion and Applicable T&Cs

1.1 John Lewis Investments provided by Nutmeg Saving and Investments Limited (“Nutmeg”) is offering a promotional rate of 0% portfolio management fees for a period of six (6) months on selected investments held with Nutmeg. This offer is referred to here as the “Promotional Fee Rate”.

1.2 The main agreement between you and John Lewis Investments is set out in the John Lewis Investments Standard T&Cs, which are available here. The terms set out below are the “Promotional Offer T&Cs”. The Promotional Offer T&Cs set out additional terms, including some terms which amend the John Lewis Investments Standard T&Cs. You should read both sets of T&Cs before redeeming the Promotional Fee Rate.

1.3 The capitalised words in these Promotional Offer T&Cs have the same meaning as in the John Lewis Investment Standard T&Cs, unless they are expressly given a different meaning here.

1.4 If there is an inconsistency between (a) the Promotional Offer T&Cs; and (b) the John Lewis Investments Standard T&Cs, these Promotional Offer T&Cs will apply.

1.5 By creating a John Lewis Investments account in accordance with paragraph 4.1 below, you are agreeing to be bound by these Promotional Offer T&Cs and the John Lewis Investments Standard T&Cs.

1.6 This offer will open for acceptance on 3 January 2023 at 00:01 and close on 5 April 2023 at 23:59 (the “Offer Period”). 

2. Who is able to benefit from the Promotional Fee Rate?

2.1 The Promotional Fee Rate is only available to “Eligible Participants”. Eligible Participants are individuals who, in addition to meeting the eligibility requirements in Sections 1.1 and 1.2 of the John Lewis Investments Standard T&Cs, at the date of opening a John Lewis Investments account:

(a) have not previously invested with, or used the services of, John Lewis Investments or Nutmeg; and

(b) are UK resident and are not a US Person.

2.2 By creating a John Lewis Investments account in accordance with paragraph 4.1 below, you confirm that you are an Eligible Participant.

3. What John Lewis Investment products does the Promotional Fee Rate apply to?

3.1 The Promotional Fee Rate is available in respect of the following John Lewis Investments products (including any variants of these products that may launch during the Offer Period):

(a) Stocks and Shares ISA with an investment of at least £500;

(b) Stocks and Shares Junior ISA with an investment of at least £100; and

(c) General Investment Account with an investment of at least £500

(each an “Eligible Product”).

3.2 The Promotional Fee Rate cannot be used:

(a) in conjunction with any other John Lewis Investments offer or promotion, except the John Lewis Investments My JL prize draws in January, February and March; or

(b) multiple times by an Eligible Participant; or

(c) to invest or transfer an Eligible Product into a 100%-cash pot.

4. How to validate the Promotional Fee Rate

4.1 In order to validate and benefit from the Promotional Fee Rate, you must do all of the following during the Offer Period:

(a) open a John Lewis Investment account; and

(b) fund or initiate a transfer of an Eligible Product into your new John Lewis Investment product in accordance with the minimum investment requirements set out in Section 1.1 of the John Lewis Investments Standard T&Cs.

For a transfer to be considered valid, the ceding provider must confirm the transfer within the Offer Period.

4.2 Once you have completed the steps at paragraph 4.1 above, the Promotional Fee Rate will be applied automatically to your John Lewis Investment account within the time frame specified in clause 5.1 below and you will not need to take any further action.

4.3 If you do not follow all of the steps in paragraph 4.1 correctly, you will not be eligible to receive the Promotional Fee Rate for your John Lewis Investment account. In this case, John Lewis Investments normal fees and charges, as set out in Section I of the John Lewis Investments Standard T&Cs, will apply.

4.4 If you notice that you have not signed up correctly and the Promotional Fee Rate has not been applied to your John Lewis Investment account, please contact the John Lewis Investments customer service team on 020 3598 1515 who may be able to assist.

4.5 We do not accept responsibility for your failure to successfully complete the steps at paragraph 4.1 or for any network, computer or software failures of any kind, which may result in the Promotional Fee Rate not being validated.

5. When will the Promotional Fee Rate be applied?

5.1 The Promotional Fee Rate will be applied within thirty (30) days of the funds in your John Lewis Investment account first being traded.

5.2 The Promotional Fee Rate will apply for a period of six (6) months from the date on which the Promotional Fee Rate was first applied to the funds in your John Lewis Investment account. After those six (6) months, the standard Nutmeg fees and charges will apply. Please refer to Section I of the John Lewis Investment Standard T&Cs.

5.3 You will still be subject to the underlying fund costs and impact of market spread as this is not charged by John Lewis Investments. Details of these costs and charges are set out in Section I of the John Lewis Investments Standard T&Cs

6. General Terms

6.1 In addition to its rights in the John Lewis Investments Standard T&Cs, John Lewis Investments and Nutmeg reserve the right to change, terminate or withdraw the Promotional Fee Rate at any time without prior notice. Where the Promotional Fee Rate is changed, terminated or withdrawn in accordance with this section 6.1, these Promotion Fee T&Cs will no longer apply.

6.2 Neither John Lewis Investments or Nutmeg can be held responsible for any issue or delays in transferring your ISA or Junior ISA caused by the ceding provider.

6.3 These terms and conditions shall be governed by English law, and the parties submit to the non-exclusive jurisdiction of the courts of England and Wales.

As with all investing, your capital is at risk. Tax treatment depends on your individual circumstances and may be subject to change in the future. The value of your portfolio can go up as well as down, and there's a chance you could get back less than you invest.

To open a John Lewis JISA, your child must be under the age of 16 and funds cannot be withdrawn until your child turns 18. Tax treatment depends on your individual circumstances and may be subject to change in the future. If you are unsure if a Junior ISA is the right choice for you and your child, please seek financial advice.

John Lewis plc trading as John Lewis Finance acts as an Appointed Representative of Nutmeg Saving and Investment Ltd for the purpose of making introductions to Nutmeg and distributing financial promotions. John Lewis Investments services are provided by Nutmeg Saving and Investment Limited; authorised and regulated by the Financial Conduct Authority, no. 552016, registered in England and Wales, no. 07503666, with a registered office at 25 Bank Street, Canary Wharf, London E14 5JP.

Nutmeg Saving and Investment Limited is authorised and regulated by the Financial Conduct Authority, whose address is 12 Endeavour Square, London E20 1JN, www.fca.org.uk. Our firm registration number is 552016. Nutmeg is covered by the Financial Services Compensation Scheme. There is more information about this in our Standard Terms and Conditions