JPMorgan Chase has introduced a new robo-adviser solution, You Invest Portfolios, which offers access to digital investment portfolios for new and existing investors.
Image: JP Morgan launches new robo-adviser. Photo: Courtesy of William Iven/Pixabay.
Available on Chase.com and the Chase mobile app, You Invest Portfolios solution has been designed using the research and investment experience of the company.
Customers can open an account by responding to questions regarding their risk tolerance, financial goals and time horizon. The robo-adviser solution will then prompt a portfolio that can help in meeting their goals now and in the future.
You Invest CEO Jed Laskowitz said: “We are excited to share You Invest Portfolios with the goal to make it easy for our millions of digitally-engaged customers to get and stay invested in a balanced mix of ETFs in minutes.”
You Invest Portfolios will include a mix of J.P. Morgan ETFs to balance risk and returns based on a customer’s requirements. It will allow customers to manage their investments and other Chase accounts all in one place.
With an advisory fee that starts at less than $1 (£0.80) per month or 35 basis points, customers can open a You Invest Portfolios account with $2,500 (£1,990). Investors will also be credited for fees associated with investing in J.P. Morgan Asset Management ETFs.
Chase Consumer Banking CEO Thasunda Brown Duckett said: “Customers can now bank, save, borrow and invest in one of our 5,000 branches as well as on the go.
“Our firm continues to invest in technology and experiences that help customers make the most of their money, so that they can make the most of their lives.”
You Invest was introduced by JPMorgan Chase last year, with its digital brokerage product You Invest Trade.
The company claims that You Invest Trade allows user to open a self-directed brokerage account within minutes, transfer funds between their Chase accounts in real-time and place trades online or on their mobile device. All customers receive 100 commission-free stock and ETF trades for their first year.
JPMorgan Chase digital wealth management global head Kelli Keough said: “We developed You Invest Trade and Portfolios to let customers invest when, where and how they want to.”