Digital wealth management platform Nutmeg is set to be rebranded as J.P. Morgan Personal Investing.
Nutmeg informed its 265,000 investors of the change this morning, (1 October) which is part of an overhaul of J.P. Morgan’s consumer offering.
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“J.P. Morgan Personal Investing will give retail customers in the UK the ability to bank with Chase and invest with J.P. Morgan."
Nutmeg name to be retired
Nutmeg was one of the first robo-wealth managers when it launched in 2012, building low-cost portfolios of exchange-traded funds (ETFs) and index funds for users based on their responses to a risk questionnaires.
It offers stocks and shares ISAs as well as self-invested personal pensions in managed and fixed allocation portfolios.
JPMorganChase gained entry to the market by purchasing Nutmeg in 2021 and it was unclear how the brand would operate at the time.
It has now been confirmed that the Nutmeg brand will disappear from 3 November 2025 and while accounts will remain the same, they will operate under J.P. Morgan Personal Investing.
Users will be able to access their accounts through a new website and J.P. Morgan Personal Investing app and through the Chase UK app, plus there will be a new support team.
Investors will also need to sign new terms and conditions.
New features
Following the launch, JPMorgan Chase said a new Wealth Planner feature will be unveiled.
The free tool will give users a view of their current total wealth, alongside tailored suggestions on how they can move closer to their goals.
Clients will be able to use the digital guidance tool to explore the potential impact on their goals and finances before taking action, so they can customise their strategy to suit them.
Investors with more than £250,000 in their accounts will be offered access to relationship managers to provide personalised one-to-one advice and professional expertise.
This is alongside the free financial guidance and the paid-for restricted advice service currently available for all clients.
A new DIY investment platform
JPMorganChase said it will also launch a new DIY investment platform next year in addition to its existing range of managed portfolios.
It will offer investors the ability to buy and sell their own shares, bonds, funds and other asset classes.
O’Donovan added: “As J.P. Morgan Personal Investing, we want to provide consumers with a broader wealth management and investment offering.
“By providing access to one of the world's most respected investment houses, an expanded team of financial planning and investment experts and an intuitive digital experience from a tech innovator.”
An investor's view of the Nutmeg rebrand - by Marc Shoffman
Marc Shoffman questions who the Nutmeg rebrand will appeal to
I can still remember Nutmeg launching in 2012. I was writing about the rise of low cost alternatives to the major DIY investing platforms and Nutmeg stood out.
It was among the first to push the benefits of passive funds and robo-wealth management, giving users easy access to the world of investing.
The fees were low, its proposition was easy to understand and you got your own automated diversified investment portfolio built for you.
The platform was accessible, letting users open accounts with as little as £500.
It also felt more cool than its peers. There were features that seemed innovative at the time such as the ability to name your own savings pot and forecast what your portfolio could be worth in the coming years based on your level of investment.
I had a pot named house deposit that was used when I moved recently, and there are also portfolios related to other financial goals for myself and my children, which is more appealing to look at than just calling it a stocks and shares ISA.
Many of these tools have been replicated on other wealth management platforms and banking apps.
These were appealing at the time to a young investor and the question is whether a novice would be as attracted to the same proposition under the name J.P. Morgan Personal Investing.
There are questions about how the robo-platform will work alongside a new DIY investment platform. Will investors be pushed towards the more expensive active products to help it grow and will fees remain low for passive portfolios?
At a time when apps such as Starling are rebranding to drop the term Bank and even Goldman Sachs opted for the name Marcus for its retail savings accounts, JPMorganChase appears to be going the opposite way.
Many investors may associate the new name with the investment bank, which may be a deliberate strategy to focus on an older audience which has more money.
But will it be as appealing for a younger or new investor who wants a cool way to invest? Not even a forecasting tool can tell us that.
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