J.P. Morgan Asset Management launches online wealth management service for direct investors
- J.P. Morgan WealthManager+ launches with SIPP
- Platform offers investors direct access to investment trusts
Find out more at: www.jpmorganwealthmanagerplus.co.uk
London 16th November 2009 – J.P. 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.
Notes to editors – charges
Initial:
There is a maximum 1% initial transaction charge on all purchases.
Annual:
Single annual account fee of between 0% to 0.5% depending on the investments held, the tax wrapper and the value of the portfolio.
There are no event based charges.
To view a demo of WealthManager + or to obtain further details visit:
www.jpmorganwealthmanagerplus.co.uk
For further information please contact:
Ben Larter: Media Relations
Telephone: 020 7742 2112
Email: benjamin.g.larter@jpmorgan.com
Jayne Fieldhouse: Media Relations
Telephone: 020 7742 8337
Email: Jayne.e.fieldhouse@jpmorgan.com
Natalie Shamshoum
Metia for FNZ
Telephone: 020 3100 3655
Email: natalie.shamshoum@metia.com
Notes to Editors
About J.P. Morgan Asset Management
J.P. Morgan Asset Management is part of J.P. Morgan Chase & Co. and is a global asset management leader providing world-class investment solutions to clients. With US$1.3 trillion in assets under management (the Asset Management client funds of J.P. Morgan Chase & Co. as at September 30th 2009) and offices in 40 locations around the world, J.P. Morgan Asset Management offers global coverage with a strong local market presence, and leadership positions in most asset classes.
J.P. Morgan Asset Management is a trading name of J.P. Morgan Asset Management Marketing Limited which has issued this material in the United Kingdom and which is authorised and regulated by the Financial Services Authority. Registered in England No. 288553. Registered office: 125 London Wall, London EC2Y 5AJ.
Any past performance referred to in this material is not a guide to future performance and the value of investments, and any income from them, can fall as well as rise. Any tax concessions referred to are not guaranteed and their value will depend on the individual circumstances of investors. Stock market linked investments carry a number of inherent risks. These risks will increase where fluctuations in exchange rates impact on the value of any underlying investments or where the investment is exposed to smaller companies or emerging markets. Investments in fixed income securities that are not rated as investment grade represent a greater risk to an investor’s capital.
About FNZ
FNZ operates a core investment custody and administration service that enables major financial institutions to deliver pension, savings and wealth management platforms to their customers. Financial institutions are able to leverage the FNZ core services to build their own bespoke proposition for advisor, direct to customer and workplace channels. FNZ provides a fully customisable and integrated platform that maximises process automation and true straight through processing of financial transactions.
The company administers over £10 billion of retail platform assets on behalf of its institutional customers, which include AXA, Friends Provident, ING, ANZ Bank, First NZ Capital, Bank of New Zealand and Standard Life. Its platforms provide wealth management services to over 6,000 financial advisers in the UK, Australia and New Zealand.
FNZ employs over 240 investment administration and technology specialists across offices in Edinburgh, Bristol, London, Auckland, Wellington and Sydney.