JP Morgan Asset Management has launched an online wealth management service for retail investors which will offer them access to a range of investment trusts.

WealthManager+ will allow mass-affluent and high net worth individuals to invest directly into 300 investment trusts as well as open-ended investment companies, SICAVs and UK equities and bonds.

As well as allowing investors to view all their asset allocations in one place, the portal, delivered by wealth management platform provider FNZ, also provides financial education and planning tools including a model asset allocation, a risk profile builder, a tool for choosing the frequency of income payments and a tax efficiency breakdown - as well as allowing IFAs to advise the firm's direct clients.

“We’ve always had a big, direct business offering funds through many channels - institutional, wealth managers and so on - and so this is an extended offering to our  existing direct clients - 150,000 accounts,” David Barron, head of Investment Trusts at JP Morgan Asset Management, told WealthBriefing.

The asset management firm said in a statement that the inclusion of investment trusts “signifies an evolutionary time for the sector”. Investment trusts are collectively owned and pool investors' money to offer better buying power and diversified risk. The trusts are run as companies and they invest in shares of other companies.