J.P. Morgan Personal Investing review – are they the right investment for you?

Who is J.P. Morgan Personal Investing and how does it work?

• J.P. Morgan Personal Investing launched in the UK in 2011 under its previous name ‘Nutmeg‘ and offers investors a cheaper alternative to normal wealth management services by focusing on ETFs and tracker funds that carry lower charges
• It is a low-cost online investment platform that will manage your investment portfolio according to your risk profile. With J.P. Morgan Personal Investing's Fully Managed Portfolios*, investors can choose from any of the 10 investment portfolios available, each with a mix of investment assets.
• It also offers a range of 10 actively managed Socially Responsible Investing portfolios designed for investors who prefer to invest in a socially responsible way
• Alternatively, investors can choose to invest via its Fixed Allocation Portfolios*. Unlike the fully managed portfolios, the fixed allocation portfolios are not actively managed, although they are rebalanced automatically to ensure there is the right balance of investments in the investor's chosen portfolio
• In November 2020, it launched 5 ‘Smart Alpha' portfolios, powered by J.P. Morgan Asset Management. The portfolios are designed to maximise returns using J.P. Morgan Personal Investing's digital and technology expertise together with the additional insight and research that J.P. Morgan Asset Management can provide
• In October 2023, thematic investing was introduced with three ‘future-focused' themes: Technological Innovation, Resource Transformation, and Evolving Consumer. Thematic investing offers investors a globally diversified, risk-adjusted portfolio with a tilt (up to 20% equity exposure) towards their chosen theme. The majority of the portfolio is actively managed by J.P. Morgan Personal Investing's investment team, whilst the 'tilted' part of the portfolio is made up of the ETFs which will be reviewed annually.
• Income Investing was launched in 2025 and focuses on investing to pay you a monthly income while also growing your wealth for the future. It is available via a J.P. Morgan Personal Investing Stocks & Shares ISA or General Investment account, and you'll need to start with a minimum of £10,000. Investors choose their desired risk level, and the portfolio of exchange-traded funds (ETFs) is then actively managed using the expertise of J.P. Morgan Asset Management. Income isn’t guaranteed and may fluctuate.
• J.P. Morgan Personal Investing offers a Stocks & Shares ISA that can provide a simple, low-cost method of investing, tailored to your personal risk profile and fully managed by a team of investment professionals. It also offers a Junior ISA, Lifetime ISA as well as a Personal Pension*
• J.P. Morgan Personal Investing also offers a personal advice service providing restricted advice for its customers (see below)

How does J.P. Morgan Personal Investing manage its portfolios?

J.P. Morgan Personal Investing fully managed investment portfolios

• J.P. Morgan Personal Investing provides a choice of 10 managed portfolios each with a different mix of investment assets
• The portfolios range in risk from level 1 to 10
• Each portfolio is invested in many different types of assets, countries and industry sectors, this diversifies the risk and improves the chances of having money invested in the best places to provide higher returns
• J.P. Morgan Personal Investing regularly reviews the investments in your portfolio to make sure that your money is still invested in the places that best fit your personal investment goals and risk profile
• J.P. Morgan Personal Investing prefers to invest in exchange-traded funds which are designed to track the movement of various market indices
• It is a way of getting exposure to a pool of investments without having to purchase each one individually. Also, the costs involved with ETFs are low and they are easy to trade

J.P. Morgan Personal Investing fixed allocation investment portfolios

• J.P. Morgan Personal Investing's fixed allocation portfolios are J.P. Morgan Personal Investing's attempt to target those investors who want a cheap multi-asset tracker fund portfolio, but with minimal additional costs applied for the benefit of having it managed by J.P. Morgan Personal Investing's investment team
• There are 5 set portfolios to choose from, ranging in risk level from low to high
• As the name suggests, the portfolio allocations are fixed; however, they are reviewed annually by J.P. Morgan Personal Investing's investment team.
• To maintain the percentage asset allocation in line with your chosen risk level, the portfolio is automatically rebalanced
• The fixed asset allocation portfolios are clearly aimed at those investors who want a very low-cost, hands-off way of investing in a diversified tracker portfolio
• Because the asset allocation is fixed the cost of the service is lower than J.P. Morgan Personal Investing's managed service as shown in the next section

J.P. Morgan Personal Investing socially responsible investment portfolios

• J.P. Morgan Personal Investing provides a choice of 10 managed socially responsible investment portfolios, each is weighted towards companies and bond issuers that have a stronger ESG profile
• The portfolios range in risk from level 1 to 10
• Each portfolio is invested in many different types of assets, countries and industry sectors, this diversifies the risk and improves the chances of having money invested in the best places to provide higher returns
• J.P. Morgan Personal Investing regularly reviews the investments in your portfolio to make sure that your money is invested in line with your long-term objectives
• The portfolio fee starts at 0.75%, the same as J.P. Morgan Personal Investing's fully managed portfolios; however, the underlying fund charges are higher, averaging around 0.23% compared to average charges of 0.18% on J.P. Morgan Personal Investing's fully managed portfolios (Correct as of 04.02.26 and subject to change)

J.P. Morgan Personal Investing Smart Alpha investment portfolios

• J.P. Morgan Personal Investing provides a choice of 5 ‘Smart Alpha' portfolios where asset allocation is set and adapted by a combination of specialists at J.P. Morgan Asset Management and its own in-house investment team
• There are 5 portfolios to choose from, ranging in risk level
• Each portfolio is invested in many different types of assets, countries and industry sectors, this diversifies the risk and improves the chances of having money invested in the best places to provide higher returns
• J.P. Morgan Asset Management and J.P. Morgan Personal Investing's own in-house investment team regularly review the investments in each portfolio to ensure that they are aligned with your long term goals
• The portfolio fee starts at 0.75%, the same as J.P. Morgan Personal Investing's fully managed portfolios, however, the underlying fund charges are slightly higher, averaging around 0.35% (Correct as of 04.02.26 and subject to change)
• J.P. Morgan Personal Investing believes that asset allocation is the single most important decision facing every investor and so by using J.P. Morgan Asset Management’s market insights and analysis, ‘smart alpha' portfolios could benefit from tactical adjustments made over time.

Thematic investment portfolios

• In October 2023, J.P. Morgan Personal Investing launched Thematic investing, which allows investors to invest in future trends through one of three future-focused themes. These are Technological Innovation, Resource transformation and Evolving Consumer. J.P. Morgan Personal Investing's thematic investment style provides a globally diversified, risk-adjusted portfolio with a tilt (up to 20% of equity exposure) towards your chosen theme. The majority of the portfolio is actively managed by J.P. Morgan Personal Investing's investment team, whilst the 'tilted' part of the portfolio is made up of the ETFs that focus on your chosen theme and are reviewed annually. It is worth noting that Thematic Investing is not available via a pension.

Income Investing portfolios

• In June 2025, J.P. Morgan Personal Investing launched Income investing, which allows investors to ‘unlock regular earnings while growing your wealth'. The portfolios are designed to prioritise earning a monthly income
• There are 5 portfolios to choose from, ranging in risk level
• The portfolio fee starts at 0.75%, the same as J.P. Morgan Personal Investing's fully managed portfolios, however, the underlying fund charges are slightly higher, averaging around 0.39% (Correct as of 04.02.26 and subject to change)
• Minimum investment is £10,000
• Income Investing portfolios are only available via a General Investment Account or an ISA

What are J.P. Morgan Personal Investing’s fees?

J.P. Morgan Personal Investing's fees depend on the amount of your overall investment as shown below. It reduced its fees in early 2017 to those stated below in an attempt to undercut its competition, which it does if you invest a large sum or opt for a fixed allocation portfolio.

Correct as of 04.02.26 and subject to change

In addition to the charges listed above, there are underlying fund charges plus a market spread, which covers the trading costs involved in making investments on your behalf. The latest figures can be found on J.P. Morgan Personal Investing's fees page*. The figures in the table above are just J.P. Morgan Personal Investing's charge for running your money.

J.P. Morgan Personal Investing financial guidance and advice

In November 2018 J.P. Morgan Personal Investing introduced a new personalised planning and advice service. There are now three options, which we detail in the table below. The advice that J.P. Morgan Personal Investing offers is ‘restricted advice' meaning it will only make investment recommendations on the products and services it offers. However, all customers have access to free general investing guidance without the need to pay for one of the three listed advice options.

J.P. Morgan Personal Investing’s portfolio performance

The chart below shows the performance of each of the 10 J.P. Morgan Personal Investing fully managed investment portfolios from September 2012 to 30th September 2025, compared against an index of competitors for each of the risk levels. These figures relate to past performance, which is not a reliable indicator of future performance. I've colour-coded the rows red where J.P. Morgan Personal Investing's performance appears to lag its competitors and green where it outperforms.

Figures correct as of 04.02.26

There are a couple of things to point out about the performance figures. Firstly they use an assumption of the average costs incurred by a J.P. Morgan Personal Investing customer. Also the data which J.P. Morgan Personal Investing uses as indicative of its competitors is based on data provided by a firm known as Asset Risk Consulting (ARC). ARC take anonymised client return data from wealth managers across the industry and then uses it to benchmark managers such as J.P. Morgan Personal Investing. ARC only has 5 portfolios versus J.P. Morgan Personal Investing's 10 which makes direct comparison difficult. But the takeaway is that its investment performance excels if you opt for one of its high-risk profiles, although you should only choose a higher-risk portfolio if it is right for you, as any losses can also be greater. Later in this review I discuss J.P. Morgan Personal Investing's performance versus their biggest robo-advice competitors, Wealthify and Moneyfarm. You can check the latest performance data on the J.P. Morgan Personal Investing site*. There is also data available on the portfolio performance for other investment styles.

Who should consider J.P. Morgan Personal Investing investments?

• J.P. Morgan Personal Investing has a minimum initial investment of £500 (or £100 for a Junior ISA or Lifetime ISA)
• J.P. Morgan Personal Investing may be a suitable investment solution for anybody who wants a low-cost way to invest in the stock markets but does not have the time or expertise to make their own investment choices
• Also the analysis of their performance data would suggest those willing to take a medium level of investment risk may be particularly suitable
• In my view an ideal client would be someone who is happy to take a medium level of risk, keep their money invested for the long term and who doesn't have the time or expertise to run their investments but realises the importance of controlling costs. Although there are better performing alternatives as explained in the next section
• J.P. Morgan Personal Investing offers a restricted financial advice service that may be attractive to those that are wanting to take advice, but want to do so at low cost

J.P. Morgan Personal Investing alternatives

J.P. Morgan Personal Investing* is the most established brand in the UK when it comes to managed tracker portfolios. Since it launched in 2011 under its original name, Nutmeg, it has become one of a growing band of robo-adviser propositions which have come to the market. One such robo-advice proposition, and one of J.P. Morgan Personal Investing's biggest competitors is Wealthify. Another major competitor is Moneyfarm. I compare Wealthify's charges and performance against J.P. Morgan Personal Investing's and Moneyfarm's in my Wealthify review.

If you would rather pick your investment funds yourself, rather than have someone run it for you, then as an alternative to J.P. Morgan Personal Investing you could use a fund platform such as Hargreaves Lansdown or Vanguard Investor. Read our full Hargreaves Lansdown review and Vanguard review for more information. The former is the market leader and offers the widest range of funds which can be held in their ISA, Lifetime ISA or Vantage SIPP. While Vanguard provides one of the cheapest ways to build a bespoke portfolio of tracker funds. If you like the idea of picking your own funds using a fund platform like Hargreaves Lansdown but don't know where to start then have a look at our 80-20 Investor service which empowers DIY investors to make their own investment decisions.

More about J.P. Morgan Personal Investing

In 2021, under its original name Nutmeg, it was acquired by J.P. Morgan and now forms a pivotal role in the company's retail investment and wealth management plans outside of the United States. J.P. Morgan Personal Investing holds clients' investments with a ‘custodian bank', this is a specialised financial institution responsible for safeguarding a firm's, or individual's, financial assets. Clients' assets are therefore separate from J.P. Morgan Personal Investing assets so should not be affected if the company failed in the future. You can find out more information in J.P. Morgan Personal Investing's FAQs*. Additionally, J.P. Morgan Personal Investing is a member of the UK Financial Services Compensation Scheme (FSCS) which ensures that in the event of a failure of J.P. Morgan Personal Investing, coupled with a failure to safeguard customer assets or some other failure (such as negligent advice), the value of customer assets held with J.P. Morgan Personal Investing may be protected by the FSCS up to the limit of £85,000. Please note that none of the above removes the normal risk of losing money, which is the case with all investments.

What are customers' views regarding J.P. Morgan Personal Investing's service?

J.P. Morgan Personal Investing is rated as ‘Great' on independent review site Trustpilot and scores 4.1 out of 5.0 from over 2,400 reviews. Below are a collection of reviews from online sources including Trustpilot.

• ‘The easiest way to invest in stock, shares, bonds and without needing to spend years researching or learning the ropes yourself' – John B
• ‘Quite happy with the performance of the fund, this is an easy platform to make changes, and add funds, overall quite happy with Nutmeg’ – Andrew S
• ‘Best thing I ever did transferring my pension to Nutmeg, it has never performed so well. I would highly recommend' – Hilary B
• ‘I can only comment on the setting up process as it's such a recent investment but I found the site easy to use and clear about costs' – Rachel
• ‘Been with Nutmeg over a year now and have got substantially better returns than I did when trying to trade myself' – James

Conclusion

If you are looking for a low-cost stock market investment service then take a look at J.P. Morgan Personal Investing. It remains one of the cheapest online investment services especially if you are looking for someone to manage your portfolio and make tactical decisions.

J.P. Morgan Personal Investing can build an example portfolio in just a couple of minutes so that you can easily see the projected value and costs over your chosen investment timeframe. J.P. Morgan Personal Investing also provides an additional advice service if customers require it. Overall J.P. Morgan Personal Investing gives simple easy access to investing within a Stocks and Shares ISA*, Lifetime ISA*, general investment account* or a personal pension* with a track record of providing competitive returns over time.

It is important to note that as with all investing, your capital at risk. The value of your portfolio, and any income from it, can go down or up and you may get back less than you invest. Tax rules vary by individual status and may change. ISA/JISA/LISA and Pension eligibility rules apply. Thematic Investing has specific risks and is not for everyone. A trend isn’t guaranteed to deliver positive investment returns. Our themes, like Resource Transformation, don’t include ESG considerations. With income investing, income isn’t guaranteed. A £10,000 minimum investment is also required. Available for GIA and ISA only. We provide ‘restricted advice', which means we will only make investment recommendations on the products and services that we offer. Past performance is not a reliable indicator of future performance. J.P. Morgan Personal Investing is a J.P. Morgan company which offers investment products. Investments not guaranteed by JPMorgan Chase Bank, N.A.

*J.P. Morgan Personal Investing has agreed to pay a small fee for new customers acquired via the asterisked links in this article which helps us keep MoneytotheMasses.com free to use. But as you can clearly see this has in no way influenced this independent and balanced review of the product. Please use the following link if you would prefer that MoneytotheMasses.com does not receive any payment for your referral – J.P. Morgan Personal Investing