In the Budget today Rachel Reeves announced that the amount of cash savings under-65s can put into cash ISAs will be capped at £12,000 from April 2027, with the rest of the £20,000 allowance reserved for investments.

The Nutmeg digital wealth manager brand has today been retired and clients will now find their investments through the JP Morgan Personal Investing app and website, which will also launch new Financial Planning tools.

Robo-adviser Nutmeg has teamed up with parent firm JP Morgan to launch five risk-rated income investing portfolios.

Schroders has appointed former JP Morgan banker Oliver Gregson as CEO of wealth management to replace Mary-Anne Daly, who will step back from her full-time responsibilities at the end of June to make time for other interests.