JPMorgan Chase will retire the Nutmeg brand this November as it launches J.P. Morgan Personal Investing, a new digital wealth and investment service for UK retail customers.
The move brings to an end more than a decade of the Nutmeg name in the UK market, which was among the first digital-first wealth managers in the UK and went on to become the country’s largest robo-adviser.
The US banking giant acquired the company in 2021 as part of its push into UK consumer finance, alongside the launch of Chase UK.
Since the takeover, Nutmeg has more than doubled its assets under management from £3.5 billion to £8.5bn and grown its customer base from 140,000 to more than 265,000.
J.P. Morgan Personal Investing will carry over the London-based company’s existing services, while adding new features designed to broaden its appeal.
A wealth planner tool will allow clients to view their total finances alongside tailored suggestions for meeting goals.
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From November, investors with more than £250,000 will gain access to dedicated relationship managers to work alongside the firm’s digital guidance and restricted advice services.
A DIY investment platform, allowing users to buy and sell shares, bonds and funds, is due to launch in 2026.
“Consumers in the UK are world-leading in adopting digital financial services, and today is an important next step in the evolution of our offering in the UK market, leveraging J.P. Morgan expertise and heritage to provide consumers with exceptional investment products and services,” said Mark O’Donovan, CEO of international consumer banking at JPMorganChase.
“J.P. Morgan Personal Investing will give retail customers in the U.K. the ability to bank with Chase and invest with J.P. Morgan.”
Executives said the change follows a transition period, during which Nutmeg expanded its range of products with diverse portfolios and built up a team of more than 30 financial planners and advisers.
The company has also been integrated into the Chase UK mobile app.
Minimum investment thresholds will remain the same at £100 for junior and lifetime ISAs, and £500 for a stocks and shares ISA, pension or general investment account.
The firm said it would continue to use funds from multiple providers, not only J.P. Morgan Asset Management.
Nutmeg’s app and online dashboard will automatically rebrand in November, with Chase customers able to view investments alongside everyday banking.
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