JP Morgan Asset Management has launched an online wealth management service called WealthManager+, which will offer investors direct access to a wide range of OEICs, investment trusts, SICAVs and a large range of UK equities and bonds, as well as a range of unique financial education and planning tools.
The platform's underlying services and technology were delivered by wealth management platform provider, FNZ.
The launch of the platform is in response to growing demand from existing clients seeking to consolidate their existing investments, manage their wealth more efficiently and access a wide range of new investments.
The range of sophisticated applications will include a personal wealth report, an example asset allocation model, a risk profile builder, a tax efficiency breakdown of investments and a function allowing investors to choose the frequency of income payments from their investments. The services are designed to help investors create an investment strategy that can enable them to achieve their investment goals.
In addition, investors will be able to take full advantage of the most tax efficient investment vehicles via an ISA and a SIPP. They could also store further information such as the value of fixed assets and monies held on deposit so their entire net worth can easily and conveniently be viewed at any time under one highly secure wealth umbrella.
The launch of WealthManager+ will also offer retail investors a simplified route to over 300 investment trusts managed by J.P. Morgan Asset Management and other providers. The sector has traditionally been difficult for retail investors to access and the admittance of investment trusts onto the platform signifies an evolutionary time for the sector and a commitment by J.P. Morgan Asset Management to provide greater mainstream distribution so investors can buy investment trusts just as easily as an OEIC or SICAV.
David Barron, head of Investment Trusts at J.P. Morgan Asset Management commented: "As the UK's largest manager of investment trusts and a major retail provider of OEICs and ISAs, we have over 150,000 valued direct clients to which we are committed to providing the highest standard of service. As such we have spent a considerable amount of time developing J.P. Morgan WealthManager+ which not only enables investors to manage their entire wealth through one easy to understand website, but also provides them with the tools and knowledge to make better informed investment decisions. As the industry develops and there is an increasing need and desire for individuals to take control of their finances, we have taken steps to ensure we are continuing to serve clients by offering simplified access to investing."
Adrian Durham, CEO of FNZ, the solution's service and technology provider, said: "This launch represents a landmark in retail investment. By giving such control to retail investors, J.P. Morgan's WealthManager+ platform delivers a compelling and unique offering to the market. We are pleased to have played such a large role in this initiative - not only by developing the investment portal, but also through ongoing investment administration services. Moreover, we are confident that J.P. Morgan Asset Management will quickly reap the benefits of this fully automated and integrated platform approach."
J.P. Morgan WealthManager+ also has functionality to allow access to IFAs who advise its direct clients and it has recently completed an exercise to verify these relationships.