Together with the new brand, the platform will be expanded to include new products and services designed to help people reach their financial goals, Nutmeg said in a Wednesday (Oct. 1) blog post.
“J.P. Morgan Personal Investing will continue to provide all the existing Nutmeg products and services, and we will add some new benefits too,” the post said.
The new additions will include a wealth planner feature that will give clients a view of their current total wealth and tailored suggestions about how to reach their goals; a do-it-yourself investment platform that will enable clients to buy and sell a variety of assets; and, for clients with over 250,000 pounds (about $337,000) invested with the platform, access to a dedicated relationship manager who can provide financial guidance, according to the post.
Nutmeg was founded in 2012, expanded its range of wealth management products and services over the next decade, and was acquired by JPMorganChase in 2021, the post said.
Since the acquisition, the platform has launched its Thematic Investing style; expanded its financial advice and guidance services; grown its team to include more than 30 wealth advisers, paraplanners and financial advisers; and introduced Income Investing in partnership with J.P. Morgan Asset Management, per the post.
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The current Nutmeg app and online dashboard will be updated on Nov. 3, according to the post.
When Nutmeg announced in June 2021 that it would soon become part of JPMorganChase, the wealth manager had more than 140,000 clients and over 3.5 billion pounds (about $4.7 billion) of assets under management.
The Financial Times reported Wednesday that Nutmeg now serves more than 265,000 investors and manages 8.5 billion pounds (about $11.5 billion) of assets.
In another, separate development, it was reported in June that JPMorganChase had begun accepting applications for a FinTech accelerator program for U.K. startups that want to employ technology to develop scalable financial services solutions.
In November 2024, J.P. Morgan’s digital bank Chase U.K. introduced its first credit card.
