THE WHAT? John Lewis is branching out in the world of banking with the launch of its first investment products to customers.
THE DETAILS The UK department store has teamed up with Nutmeg to deliver three simple investments: a Junior ISA, Stocks and shares ISA and General Investment.
“Since the start of 2020, we’ve seen a significant increase in people looking to invest in order to build a more dependable financial future for themselves and their families,” said Neil Alexander, Chief Executive Officer, Nutmeg. “Nutmeg’s mission has always been to empower nations of investors and there’s never been a more important time to harness this new appetite. Through our partnership with John Lewis, we’re providing an easy-to-use service and investments that meet the growing demand for social responsibility to help John Lewis customers build a financial future for themselves and their families.”
THE WHY? The pandemic has fundamentally altered our attitudes to money – with the ‘haves’ finding a new-found love of saving. Indeed, the much vaunted summer of spending has failed to materialise as consumers have held onto their nest eggs forcing retailers to diversify to survive. As Amir Goshtai, John Lewis Financial Services Director, explains, “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. 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.”