JPMorganChase is set to revamp its investments offering in the UK this autumn, with plans to further ramp up competition in the market with the launch of a new DIY investment service next year.
Wealth management and investment business JP Morgan Personal Investing will replace the firm’s digital wealth manager Nutmeg, and will be available as a standalone offering as well as via the Chase UK app, the US-based financial services firm said.
The launch will take place in November and the Nutmeg brand, which launched in 2012 and manages investments on behalf of more than 265,000 investors will be “retired”. Nutmeg was acquired by JPMorganChase in 2021.
Customers will see their Nutmeg app and website dashboard transition to the new JP Morgan Personal Investing brand and those who bank with Chase UK will continue to be able to access to their investments alongside their current account, credit card spending and savings pots, the firm said.
In addition to managed investments, pensions, and Isas, there will be new products and services, including digital financial planning tools and dedicated “relationship managers”.
Clients with more than £250,000 invested with JP Morgan Personal Investing will have access to a dedicated relationship manager, aligned to their account to provide a personalised one-to-one experience and professional expertise.
The firm said relationship managers will complement existing free financial guidance available to all customers and the paid-for restricted advice service currently offered. The value of investments can go down as well as up.
In the coming weeks, customers will also have access to a new “wealth planner” feature, with tailored suggestions for moving closer to their goals.
Further additions to products and services are expected in the year ahead, the firm said.
In 2026, it is planning a new DIY investment platform, with more details set to be disclosed closer to the launch.
Get a free fractional share worth up to £100.
Capital at risk.
Terms and conditions apply.
ADVERTISEMENT
Get a free fractional share worth up to £100.
Capital at risk.
Terms and conditions apply.
ADVERTISEMENT
Mark O’Donovan, chief executive of international consumer banking at JPMorganChase, said: “JP Morgan Personal Investing will give retail customers in the UK the ability to bank with Chase and invest with JP Morgan.”
Existing Nutmeg customers will be emailed about the changes and from November 3 they will see that their app and online dashboard have been updated, the firm said.
Rachel Springall, a finance expert at Moneyfactscompare.co.uk, said it is “always positive” to see increased competition in the investment sector, adding: “Investing might seem a chore, but the rise of digital apps can make it easier to manage a portfolio, but whether a ‘DIY’ approach is suitable for an individual will depend on their circumstances, so seeking advice is wise before making any quick decisions.”
She added: “Those investing would be wise to keep in mind that past performance is never guaranteed to be reflected in future returns. Indeed, the significant rise in stock markets over one year might not be sustained in the future and could fall back.
“Those more risk averse may still prefer to utilise their cash Isa allowance, and a fixed rate deal remains an ideal choice for a guaranteed return of interest. Longer-term deals may become even more attractive in the coming months, as interest rates have been coming down this year.”
