JPMorgan Adds Spice to Chase

Nutmeg, the British digital investment service, chose its name because the spice, like wealth and investment management services, was once rare but now is readily available. JPMorgan is acquiring Nutmeg – which it already works with on active ETFs – as it prepares to launch Chase as a digital bank in the UK. 

Nutmeg’s sales pitch:

We’ve got rid of all the aspects that made the wealth management industry unpopular. We don’t charge a premium for the illusion of a personal relationship. We don’t use confusing benchmarks that bear no resemblance to reality. We don’t use technical jargon. We don’t lump all your money together. We don’t charge high fees to pay for our huge sales force. We don’t hit you with sneaky charges. We don’t keep you in the dark over where you’re invested – or how your funds are performing.

 Check out Nutmeg’s admirably clear and accessible website. Well designed and well worded.