Back in June, JPMorgan Chase announced it would acquire Nutmeg for an undisclosed amount, subject to regulatory approval.
It said Nutmeg would remain a standalone business but ‘complement’ the company's new digital bank, which is planned to launch in the UK later this year under the brand of its US retail offering JPMorgan Chase.
Meanwhile, Nutmeg has created a team called Wealth Consultants to help clients with more complex needs but who do not need advice.
The new team does not give regulated advice but runs alongside the advice team, which has also been expanded recently and has started giving advice via video call on top of its telephone-based service.
amy.austin@ft.com
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