JP Morgan Doubles Nutmeg's Assets, Launches DIY Investment Platform
JP Morgan has significantly expanded Nutmeg's assets under management and investor base, as part of a government-backed initiative to boost stock and share investments among Britons. The bank is set to rebrand Nutmeg and launch a 'DIY investment platform' for buying and selling shares, bonds, funds, and other asset classes, aiming to increase fidelity among investors. The new service, JP Morgan Personal Investing, will offer managed investments, pensions, ISAs, digital financial planning tools, and dedicated relationship managers. JP Morgan is to scrap its Nutmeg brand and roll its services into a new consumer wealth management business. The Investment Association, led by Chancellor Reeves, has proposed a campaign costing between £15m and £40m to encourage Brits to own stocks, including a 'hero' film, social media content, TV slots, and digital ads. The Nutmeg brand will be retired from November 2025, with customers transitioning to the news JP Morgan Personal Investing brand. Firms will bear agency fees, production fees, and variable costs for the advertising campaign. Mark O'Donovan, CEO of International Consumer Banking at JPMorganChase, stated that the move is an important next step in the evolution of their UK offering, leveraging JP Morgan's expertise and heritage. JP Morgan's expansion of Nutmeg's services and assets, along with the upcoming rebrand and launch of a new DIY investment platform, signals a significant step in the UK's push for increased stock and share investments. The government-backed campaign aims to educate and encourage Britons to diversify their investment chase.
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