JP Morgan has announced that Hargreaves Lansdown has bought a client book of 7,000 companies with a combined £ 370mn of assets from JP Morgan Investment Management ( JPMAM ) . The book accounts for 6 % of the bank 's direct client base . Clients who are impacted will be transfered to Hargreaves’ Vantage platform after September 25 unless they redeem their holdings or transfer to another provider. JP Morgan 's Peter Berens stated that the bank remained " fully committed " to its existing direct clients and the move was a result of " our decision to focus on our core strength in fund management " .
JP Morgan has announced that Hargreaves Lansdown has bought a client book of 7,000 companies with a combined £ 370mn of assets from JP Morgan Investment Management ( JPMAM ) . The book accounts for 6 % of the bank 's direct client base . JP Morgan 's Peter Berens stated that the bank remained " fully committed " to its existing direct clients and the move was a result of " our decision to focus on our core strength in fund management " .