JPMorgan ditches Nutmeg to launch ‘Personal Investing’ brand

JPMorganChase will retire its Nutmeg brand as it looks to muscle into the UK wealth management sector with a new personal investing tool. The firm said it will launch its new ‘JPMorgan Personal Investing’ brand in November, when it will also scrap its current digital wealth manger offering, Nutmeg. Existing Nutmeg users will see their investing app change from 3 November, JPMorgan said.

The platform will offer managed investments, pensions and Isas, as well as digital financial planning tools and dedicated relationship managers. From 2026, a new DIY investing platform will also be launched as part of the brand. JPMorgan said the Personal Investing brand will be available through its Chase current account app, and as a standalone product.

For stocks and shares Isas, customers will be able to invest from a minimum of £500, while for lifetime Isas and junior Isas, customers can start with just £100. JPMorgan said its income investing pot has a minimum investment of £10,000. Mark O’Donovan, chief executive of International Consumer Banking at JPMorganChase said: ‘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 JPMorgan expertise and heritage to provide consumers with exceptional investment products and services.’

The move comes alongside the Government’s drive to promote retail investing, pegged as a ‘Tell Sid’ style campaign. The campaign includes the launch of ‘targeted support’ from April next year, which will see financial firms support customers with targeted information. The new platform will maintain all of Nutmeg’s current products and services, as well as launching new features.

JPMorgan said it will launch a wealth planner feature in coming weeks, allowing users to see their current total wealth, with suggestions on how they can reach their goals. It will also offer relationship managers from November, giving clients with more than £250,000 invested with JPMorgan face-to-face professional guidance. The firm says it will continue to offer existing free financial guidance which is available for all clients as well as its paid-for restricted advice service.

With the coming launch of its DIY platform in 2026, customers will be able to buy and sell shares, bonds, funds and other assets. O’Donovan added: ‘Nutmeg was founded with the ambitious aim to democratise the world of investing and wealth management and empower generations of investors to achieve their financial goals.

‘Under the ownership of JPMorgan, the company has experienced significant growth and clients have benefitted from extensive investment in our products and services.’ JPMorgan has offered digital wealth management through Nutmeg since 2021, and currently has £8.5billion worth of assets under management, up from £3.5billion when it acquired the brand. Some 265,000 investors use the platform. Nutmeg was launched in 2012 by Nick Hungerford, who died in 2023 aged 43.

O’Donovan added: ‘As JPMorgan 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.’