“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 JP Morgan expertise and heritage to provide consumers with exceptional investment products and services,” Mark O'Donovan, CEO of international consumer banking at JP Morgan Chase, said. “JP Morgan Personal Investing will give retail customers in the UK the ability to bank with Chase and invest with JP Morgan.”

Robo-advisors and the UK experience
Attempts to build stand-alone robo-advisory brands in the UK have been mixed. . The development highlights that despite frictions in transatlantic trade, US banks continue to see the UK as a valuable retail and wealth management market.

JP Morgan Personal Investing will incorporate all existing Nutmeg products and services, with additional features to follow. These will include “Wealth Planner,” a tool providing clients with a consolidated view of their wealth and tailored suggestions to meet financial goals. From November, clients with more than £250,000 ($336,778) invested will have access to a dedicated relationship manager.

In 2026, JP Morgan will launch a full DIY investment platform, allowing investors to buy and sell shares, bonds, funds and other asset classes.

JP Morgan said it is “taking everything that is already strong about Nutmeg and expanding it with the products and services that JP Morgan customers have come to expect in the US.”

Nutmeg employs 30 wealth advisors, paraplanners and financial planners.

Reflecting on whether the “robo-advisor” model has reached its limits, JP Morgan said: “While Nutmeg was founded to disrupt the wealth management industry with a digital-focused offering, since 2020 we have also offered clients access to a team of financial planners and advisors providing restricted financial advice and free financial guidance. We believe combining human expertise with an award-winning digital experience will help more people to achieve their financial goals.”

The bank added that it recognises some clients want greater DIY control over their money: “With the investment we are making in JP Morgan Personal Investing, and under the ownership of one of the world’s largest investment firms, we have the opportunity to offer clients a full DIY platform alongside the managed portfolios we already provide.”

(Editor's note: The comments from the bank about the robo-advisor model are interesting, particularly at a time when everyone appears to be excited – or possibly alarmed – about AI. It makes it clear that human contact and advice is important and that a pure stand-alone AI platform does not really work for wealth management, at least for the forseeable future. Many people who invest, save and borrow, require at certain points of their financial lives the chance to sit down with someone and discuss what they want to do. Discussing this with a chatbot, or whatever, isn't enough. In fact, it is likely to cause intense frustration. Given the difficulties many people have in their daily lives in handling utility bills online – to give one example – it seems a stretch to imagine that this approach will work consistently when wealth is involved. The Nutmeg business had a vigorous marketing campaign; as a brand, it was certainly powerful, but never quite gathered the momentum hoped for. It will be interesting to see how this shakes out and how the competition reacts.)