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UK retail stockbroker Share Centre acquires 13,000 accounts from JPMorgan

U.K.-based independent retail stockbroker Share Centre Ltd. completed the acquisition of 13,000 accounts from JPMorgan Chase & Co. that contain a range of JPMorgan investment trusts as well as open-ended investment companies.

Share Centre agreed to purchase an active book of accounts from JPMorgan in April, following the U.S. company's decision to stop offering FTSE equities and other non-JPMorgan investments to focus solely on its own funds.

According to an April report by the Financial Times, Share Centre was due to add almost 20,000 of JPMorgan's customers with £750 million in assets, while British asset manager Hargreaves Lansdown PLC was reported to add 33,000 customers with £765 million in assets.