We’re excited to welcome My Nest Egg customers to the Octopus family. Octopus Group serves over 5 million customers across the UK and manages over £9.6bn* of investments – and most importantly, our customers rate Octopus Money Excellent on Trustpilot.
Who’s Octopus Money?
Octopus Money is on a mission to make investing and money advice accessible to all – because we believe everyone deserves to feel confident about their future.
We’re part of the Octopus Group – a UK business that’s been helping people invest for over 25 years and manages £9.6 billion* on behalf of investors. You may also know Octopus Group as the business that helped launch Octopus Energy.
We’re rated Excellent on Trustpilot and are the only direct-to-customer investment platform in the UK that’s also a certified B Corp – meaning we’re committed to doing the right thing for people, the planet, and the communities they serve.
Will my money still be invested in the same funds?
No - we have moved you to Octopus Money portfolios which are made up of different funds. We have chosen your portfolio to match the level of risk you were invested with at My Nest Egg. You can change your portfolio anytime, easily on your investment portal, here is how.
Will there be any changes to the fees I pay?
Yes the fees at Octopus Money are lower, below is a breakdown of fees:
| My Nest Egg | Octopus Money | |
| Platform fee | 0.45% | 0.4% |
| Ongoing fund fee | 0.23% | 0.08-0.1% |
| Trading fee | 0% | 0.04% |
| Discretionary fund management | 0% | 0.1% |
| Total fee | 0.68% | 0.62-0.64% |
What is the Octopus Money approach to investing?
Our client’s money is invested in globally diversified portfolios, built and regularly rebalanced by our experienced investment team.. We choose low-cost funds from across the market to keep costs down – so more of your money stays invested and working for you.
Do I have to stay with Octopus Money?
No, but we hope you will. We have a range of portfolios and a number of financial planning and wealth planning services that we will make available to you. If you have any questions, please do reach out to us: support@octopusmoney.com.
Can I transfer my funds away from Octopus Money?
Yes. Whilst we hope that you will remain a client of Octopus Money,, if you would like to transfer out to a new provider there are no exit fees.
What happened to My Nest Egg?
My Nest Egg have decided to wind down their operation following a period of financial difficulties mainly attributed to the high costs associated with distributing their services.
What are the differences in services between My Nest Egg and Octopus Money?
Octopus Money can cover all the services My Nest Egg were offering including being able to manage your pension online and get help with how to invest. We also have a range of other services that will be available to you as an Octopus Money customer, like the ability to speak with a money coach or independent financial adviser.
Will I still be able to access the regulatory documents related to my past investments?
Yes - SECCL will hold the historical documents from My Nest Egg and these are available on request. If you would like to access these documents, just email your request to support@octopusmoney.com and we can arrange this for you. Please note, this may take up to 5 working days.
Will I have access to any other services when I join Octopus Money?
Yes! At Octopus Money, we’re building more services to help people at lots of big moments in their life. There’s lots of exciting stuff in the pipeline and you’ll get access to all of that as a customer.
What should I do about my Direct Debit?
You’ll need to set up a new direct debit in your Octopus Money account. It will take up to 10 days to activate a direct debit once set up with Octopus Money for the first time.
Will my Direct Debit payment date remain the same?
You will need to set up a new direct debit and can choose your preferred date for the payment to be made.
How do I get help with my account right now?
We’re here to help, if you have any questions or require any support please reach out to support@octopusmoney.com or call us on 020 3195 4455.
What if I want to file a complaint?
Octopus Money will not be able to resolve any historic complaints related to service provided by My Nest Egg. If your complaint relates to something that happened before you became an Octopus Money customer, you will need to contact the liquidators of My Nest Egg. The details are below.
- Telephone: 0161 8335 635
- Email: simon.farr@frpadvisory.com
If your complaint relates to your account after it moved to Octopus Money, please email support@octopusmoney.com or call 0203 495 4455.
Is my data safe?
Yes! We are dedicated to keeping your data safe, throughout the migration and whilst it is in our care. Our Privacy Policy can be found here, which will give you more information on how we will work to keep your data safe.
Who can I speak to about this transition?
Our team at Octopus Money is ready and happy to help answer any questions you have about the transition. Email us or call us on 020 3195 4455.