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JP Morgan scraps Nutmeg in launch of new personal investing brand
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JP Morgan scraps Nutmeg in launch of new personal investing brandJP Morgan is to scrap its Nutmeg brand and roll its services into a new consumer wealth management business as it intensifies its battle with market leader Hargreaves Lansdown.
The new service, dubbed JP Morgan Personal Investing, will offer managed investments, pensions, and ISAs alongside digital financial planning tools and dedicated relationship managers.
Nutmeg was founded in 2011 by entrepreneur Nick Hungerford before being sold to JP Morgan in a £700m deal.
According to JP Morgan, the company has more than doubled its assets under management, from £3.5bn at the point of acquisition to over £8.5bn, and now manages investments on behalf of over 265,000 investors, up from 140,000 at acquisition.
The Nutmeg brand will be retired from November 2025 and customers will see their Nutmeg app and website dashboard transition to the new J.P. Morgan Personal Investing brand.