Nutmeg chief investment officer James McManus said the goal is to “open up the previously exclusive world of wealth management”
(Picture: Nutmeg)Digital wealth manager Nutmeg today revealed a new partnership with J.P. Morgan Asset Management in the latest move seeing consumers gain access to services once available only to institutional investors.
The London-based financial technology business now has over 100,000 clients after growing its customer base by a third in the past year - with women making up 40% of new investors.
Only around 10% of women own a stocks and shares ISA in the UK, industry statistics suggest.
The five new Smart Alpha risk-rated portfolios will see digital customers benefit from JPMAM's research expertise and market insights.
The app is offering five new portfolios in the partnership
NutmegNutmeg said the globally diversified portfolios of exchange traded funds will "seek additional returns through smart, transparent security selection".
Customers will be able to log on and check what their money is doing every day, and all investment decisions will be made after considering their environmental and social impact.
James McManus, chief investment officer at Nutmeg, said: “At Nutmeg, our mission has always been to open up the previously exclusive world of wealth management, by bringing innovative, technology-led solutions to more people in order to help them achieve their financial goals."
The management fee for the Smart Alpha portfolios is 0.75% up to £100,000.
Nutmeg, which is backed by Goldman Sachs and Schroders, grew by 49 per cent to manage £2.3 billion in the year to September.
The company is currently loss-making, and has predicted it will see a profit within the next 36 months.
