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Jamie Dimon, chief executive officer of JPMorgan Chase & Co., during a Bloomberg television interview on the touch of the China JPMorgan summit in Shanghai, China, Thursday, May 22, 2025.
Qilai Shen | Bloomberg | Getty images
Once a delay in the online investment game, JPMorgan Chase Now think that he is a leader.
Friday, the bank should unveil new tools that allow investors to search and buy bonds and deposit certificates negotiated via its mobile application, CNBC is first to be reported.
Users can configure personalized screens and compare bond yields on the same banking or web portal application they use to check their account sales, according to JPMorgan managers. The movements are part of a concerted effort to strengthen the bank’s skills titles among investors who are negotiated several times a month.
“Our goal was to create an experience that makes it extremely simple for customers who wish to buy fixed income securities,” said Paul VienickHead of online investment at the JPMorgan wealth management branch. “We have taken this exact reflection process for the simplicity of [buying] Actions and FNBs and moved this in fixed income space. “”
JPMorgan, the largest American bank of assets and a leader in most of the main categories of financing, is relatively puny compared to other online brokerage houses. Although it has experienced stable gains in recent years, as it has added functions, including the possibility of buying fractional actions, the bank only recently managed $ 100 billion in management, learned CNBC.
Who turns pale compared to online investment giants Charles SchwabFidelity or E-Trade, which has had decades to accumulate investors and acquire competing platforms.
‘Drive this thing’
The bank first tried to trap more than billions of dollars than self-driven investors hold by launching a free trading service In 2018. JPMorgan called it “You Invest” and marketed the new name in a push that included a prominent placement at the US Open in tennis.
But by 2021, JPMorgan saw that the brand does not connect the way it had hoped and pivoted to simply call it the autonomous investment platform.
That year, the company managing about $ 55 billion in assets, CEO Jamie Dimon called the company’s product in its usual blunt route.
“We don’t even think it’s a very good product,” Dimon said analysts at a financial conference. “So we drive this thing.”
Part of the JPMorgan pivot was to hire Vienick, a veteran of TD Ameritrade, Morgan Stanley And America BankIn October 2021 to revise the bank’s efforts.
“It has been recognized that in wealth management, we have a catch -up to be done on the whole,” said Vienick in a recent interview at the headquarters of Midtown New York of the bank.
This also includes the management of more money to Rich Americans Through financial advisers in physical locations, a push that was helped by JPMorgan 2023 acquisition of First Republic. JPMorgan Banque half of the 19 million wealthy households in the country but has only one 10% starting from their investment dollars.
The industry now recognizes that the supply of good online tools is table issues, even if the emphasis was previously on human financial advisers who earn more income by providing more services.
About half of those who use a financial advisor also invest alone with online tools, said Vienick.
Next stop: 1 dollars billion?
Now, the bank seeks to target more committed investors, those who seek and buy shares several times a month and who are more inclined to buy bonds directly rather than own them via common funds.
It currently offers customers up to $ 700 for moving funds to its autodirigeue platform.
Then, the bank works to offer users the possibility of performing action professions after working hours, said Vienick.
All of this is part of the bank’s efforts to convince customers who already banish with JPMorgan or have their credit cards to further consolidate their portfolio with the company. This will allow an investor to have a single view of his finances and to move money instantly between the accounts, said Vienick.
The advantages of the bank – its vast network of branches, its deep record and its reputation under Dimon – have in Vienick confident that JPMorgan will eventually reach the other major players among online brokerage houses.
“I have all the convictions that the self-directed company outside of basic wealth management can be a business of a dollar billion,” said Vienick. “It will take hard work. It will mean that we deliver what customers are asking for.”
Read more: Jpmorgan Chase goes up to the top of the range for Woo’s America’s Millionaires
