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Dodl vs Nutmeg

We compare AJ Bell's new investment app, Dodl, against Nutmeg. See who came out on top

Dodl is a brand new investment platform on offer in the UK, with a set of ready-made portfolios to go up against Nutmeg. We’ve put the two apps against each other to find out whether Dodl is better than Nutmeg. As Nutmeg offers only robo-advice (compared with Dodl’s additional investment options), we’re only comparing the robo-advice capabilities of these two providers. We’ve compared the products available, the portfolios on offer, the fees, features and learning resources of both platforms.

Dodl vs Nutmeg: Vital statistics

DodlNutmeg stocks and shares ISA
Finder rating★★★★★★★★★★
Customer satisfaction rating★★★★★
Costs rating★★★★★★★★★★
Stocks and shares ISA available?
FSCS protected?
More InfoGo to site
More Info

For vital stats, both Dodl and Nutmeg do well, with both having a stocks and shares ISA available at no additional cost. Both platforms are protected with the Financial Services Compensation Scheme (FSCS), which means that you’re protected up to £85,000 if either company were to go bust.

Round 1: Products

DodlNutmeg stocks and shares ISA
Stocks and shares ISA
Lifetime ISA (LISA)
Pension
More InfoGo to site
More Info

Both Dodl and Nutmeg let you invest in a stocks and shares ISA, and you can invest in a pension too. You can invest in a lifetime ISA LISA) with both providers too. This lets you save up to £4,000 per year for your first home or for retirement. The government contributes £1,000 for every £4,000 invested.

  • Winner: Tie

Round 2: Portfolios

DodlNutmeg stocks and shares ISA
Portfolios rating★★★★★
Risk assessment quiz
Number of portfolios on offer730
Ethical portfolios on offer
Managed portfolios on offer
More InfoGo to site
More Info

Dodl has a great range of ready made portfolios, with AJ Bell’s 7 portfolios available to invest in. These are fully managed and there are ethical choices available. Nutmeg wins in this case, as it’s got a huge number of portfolios available, with 30 on its platform. Portfolios are fully managed, and you have the option to invest ethically with Nutmeg, too.

  • Winner:Nutmeg

Round 3: Costs

DodlNutmeg stocks and shares ISA
Costs rating★★★★★★★★★★
Annual cost of investing £10,000£15.00£105.00
Annual cost of investing £100,000£150.00£1050.00
Annual cost of investing £1m£1500.00£6,900.00
More InfoGo to site
More Info
One thing that Dodl is the clear winner for is fees. Dodl charges a 0.15% platform fee, plus there are ongoing fund charges for each of the ready made portfolios which is 0.31% for all funds except the responsible fund (which charges 0.45%). Even once you’ve considered these fees, Dodl comes out at less than half the price of Nutmeg annually.
  • Winner:Dodl

Round 4: Features

DodlNutmeg stocks and shares ISA
Features rating★★★★★★★★★★
Desktop or web access
iPhone app
Android app
In-app news and research
In-app top-up
Keep in mindCapital at riskCapital at risk
More InfoGo to site
More Info
Both Dodl and Nutmeg have mobile apps, but Dodl is app only, while Nutmeg lets you see your investments on desktop. Dodl doesn’t have much news or research in the app – you can pretty much just see some information about each investment. Nutmeg is a little more up to date with recent news that might impact your performance. You can top-up on mobile with both apps.

The graphs in Dodl are pretty nice, you can select a part of the graph and it tells you the price and the date, so they’re more interactive than other apps we’ve reviewed. The nice thing about Nutmeg is you can view this data on desktop as well as in-app.

  • Winner: Nutmeg

Round 5: Learning resources

DodlNutmeg stocks and shares ISA
Resources rating★★★★★★★★★★
Guides
Videos and walkthroughs
In-depth learning tools (training courses, etc.)
Demo account
Advice
More InfoGo to site
More Info
When it comes to learning resources, both providers could offer more videos and walkthroughs, as well as a demo account to show beginners how it works. We really like what Dodl is doing. Dodl has a “learn” tab on the app with guides and in-depth tools that can help you get started, which we think is vital for a beginner investment platform.

Nutmeg does offer financial advice at a cost.

  • Winner: Dodl

Our verdict: Is Dodl better than Nutmeg?

We think that both platforms have great ready-made offerings for beginners, but we think that Dodl’s fees mean that it comes out better than Nutmeg, plainly because they’re so much lower than Nutmeg’s fees (and honestly most providers we’ve reviewed).

Nutmeg has a larger investment offering available and is still a great choice of robo-advisor if Dodl’s monsters scare you a little, or if you’re looking for a bit more choice.

All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Past performance is no guarantee of future results. If you’re not sure which investments are right for you, please seek out a financial adviser. Capital at risk.

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