Have another read of what I said. I did not compare the AUMs (I absolutely did not state Freetrade’s AUM). What I did say is I am not sure what the attraction of Freetrade would really be to JPMorgan. And that is where I am. There is another post in which I go on to comment that JPM actually disposed of its retail investment trust customers. Of course, it may have changed/new business imperatives now (but I don’t know what these are).
Some people might be surprised but the fact that the company up for acquisition not turning a profit might not be that relevant to another organisation. These things are all contextual. I have been involved in the acquisition of two non profit making companies - the revenues were not at the heart of the acquisition and in fact did not play a role in the decision. I was involved in one acquisition of a profit making company and there the numbers were significant and material. But in all three the dominating thing was how the acquisition was relevant to our (meaning the acquirer’s) strategy.
Freetrade has a number of positives that will be relevant to the appropriate suitor. To keep to the specific article I don’t know what Freetrade’s plus points would be to JPM.