The boss of Nutmeg criticised meme stock investors as the UK digital wealth manager looks to attract an array of new investors through a landmark tie-up with JPMorgan.

"The kind of education that we bring to people, the understanding we bring to people, is that it is not about stock-picking. That's not a long-term strategy for growing wealth, and no doubt, unfortunately, quite a lot of people will have their fingers burned with meme stocks," Nutmeg chief executive Neil Alexander told Financial News in an interview.