J.P. Morgan Asset Management today announced a new charging schedule for direct customers on its WealthManager+ platform providing greater transparency and clarity. The new schedule takes effect from the 1st October 2011, and will allow customers to more easily calculate their applicable fees.
From today, existing customers will be notified of the new changes, which will take effect from 1 October 2011. As part of this, the key features and terms and conditions documents have been simplified, making it easier for customers to understand J.P. Morgan Asset Management's products and services.
The key changes are as follows:
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There will be no initial transaction charge on investments made across the product range on J.P. Morgan WealthManager+ - it is currently 1%.
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Brokerage fees of up to £10 may be applied to all investment trust, equity, exchange traded fund and bond transactions. This includes buying and selling J.P. Morgan investment trusts.
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The minimum lump sum investment will reduce from £1,000 to £500 and minimum regular contributions will reduce from £100 to £50 per month for investments in Individual Savings Accounts (ISA) and Self Invested Personal Pensions (SIPP).
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There will be no annual account fee on managed funds from J.P. Morgan and other fund managers. These cover OEICs, SICAVs and unit trusts across the product range.
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Where an annual account fee is applied, for example, in the case of investment trusts in a SIPP, these are now all capped.
Ahead of the new changes in October, J.P. Morgan Asset Management also announced that from 15th August 2011, there will be a no initial charge for customers wishing to invest into any J.P. Morgan funds and investment trusts held in a SIPP, ISA or investment account.
Peter Feasey, Head of Direct Client Business commented: "We know from customer feedback that our customers want transparent charges, accessible information and simplified documentation and believe that the changes will go some way to deliver this.
"We believe that our new pricing is extremely competitive across the board and we will continue to develop and enhance our products and services for our direct investors. We hope that these changes, together with us reducing the minimum investment, will not only benefit our existing customers but also open up our offer to a new audience and further develop our proposition in the direct investor market."
The J.P. Morgan WealthManager+ online platform allows direct customers to access a number of financial planning tools, such as the financial health check and a tool to evaluate attitude to investment risk to help with investment decisions. It is ideal for investors who want to take control of their financial future offering a wide selection of investments including OEICs, SICAVs and Investment Trusts from J.P. Morgan as well as funds from other leading fund managers, equities and ETFs. Investments can be held in an ISA, SIPP or directly in an Investment Account.
Direct investors can find further information about investing directly with J.P. Morgan Asset Management at jpmorganassetmanagement.co.uk/investor or by calling 0800 20 40 20 or +44 207 742 9995.
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