JPMorgan Chase to acquire UK robo-advisor Nutmeg

JP Morgan Chase

JPMorgan Chase is to acquire Nutmeg, a UK-based independent digital wealth manager which serves over 140,000 investors and manages in excess of GBP3.5 billion in assets. 

The transaction is subject to regulatory approvals.

Nutmeg, which delivers intelligent investment portfolios tailored to an individual’s risk appetite and investment style with exposure to multiple asset classes, countries and industry sectors, will form the basis of JPMorgan Chase's retail digital wealth management offering outside of the United States.  

Technology is disrupting the investment and wealth management industry by allowing individuals to manage their finances digitally and in real time. Since launching in the UK, Nutmeg has helped to transform this industry and will now complement JPMorgan Chase’s digital bank that is planned for launch in the UK later this year under the Chase brand. 

Arma Partners advised Nutmeg on the deal.