Hargreaves Lansdown has agreed to acquire £370m of assets from J.P. Morgan Asset Management, for an undisclosed amount, as the latter ceases to offer direct investments to certain individual clients.
The assets, held by some 7,000 clients, will move across to Hargreaves Lansdown's D2C platform Vantage after 25 September, at no cost to the customer, unless the holdings are redeemed before 26 August. After September, J.P. Morgan will no longer be offering equities, non-JPM funds and investment trusts, gilts, bonds, ETFs, J.P. Morgan SICAV funds to direct individual clients and will also cease to offer Sipps and cash Isas. The group said it will limit its range to JPM Oeics and investment trusts for individual clients invested directly or via an ISA. Clients currently holding inve...
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