Jamie Dimon, Chief Executive Officer of JP Morgan Chase & Company, during a Bloomberg television interview during a Bloomberg television interview at JP Morgan China Summit in Shanghai on Thursday, May 22, 2025 on Thursday, 2025.
Qilai Shen | Bloomberg | Getty images
Once in an online investment game, a logard, JPMorgan Chase Now believes that it is a leader.
On Friday, banks are ready to unveil new equipment that allow investors to buy bonds and brokers of bonds and brokecard certificates through their mobile apps, CNBC is to report first.
Users can set a customized screen and compare the bond yield on the same banking app or web portal, which they use to check their account balance, according to JP Morgan officials. This step is part of a concrete effort to increase the bank’s credibility among investors doing business a few times a month.
“Our goal was to create an experience that makes it very simple for customers who want to buy a definite income,” Paul VeenicHead of online investment in JP Morgan’s Wealth Management Arm. “We have taken that exact thought process for simplicity [buying] Stock and ETF and transferred it to a fixed income location. ,
JP Morgan is relatively punished compared to other online brokerage, the largest American bank by property and most major categories of finance. Despite seeing stable benefits in recent years, because tasks including the ability to buy partial stock shares in it added, the bank has recently crossed $ 100 billion in property under management, CNBC learned.
In which it is the palace compared to veterans investing online Charles SchwabFidelity or e-trades, which have decades to accumulate investors and acquire competitive platforms.
‘Running that thing’
The bank first tried to snatch more trillions of trillions of trillions, which launch and catch self-directed investors. Free trade service In 2018. JPMorgan called it “AAP investment” and marketed the new name in a push which included the major placement in the US Open in tennis.
But until 2021, JP Morgan noticed that the brand was not connecting the way he had hoped and published it only to call the self-directed investment platform.
That year, about $ 55 billion management in property with business, CEO Jamie Dimon Called firm’s product inside it Common blunt method.
“We don’t even think that this is a very good product yet,” Dimon told Analyst at a financial conference. “So we are running that thing.”
The part of JP Morgan’s axis was to appoint an experienced vianic of TD Australade, Morgan Stanley And Bank of AmericaTo end the bank’s efforts in October 2021.
“There was a belief that in money management, we have something to catch something overall,” Venik recently said in an interview at the Bank’s Midtown New York Headquarters.
This also includes management of more money Rich American Through financial advisors at physical places, a push that was helped by JP Morgan 2023 First Republic AcquisitionHalf of the 19 million rich houses in the JPMorgan country 10% Part of their investment dollar.
Industry now assumes that providing good online tool is table steak, even though the emphasis was earlier on human financial advisors who earn more revenue by providing more services.
About half of the people using financial advisors also invest on their own with online tools, Vienick said.
Next stop: $ 1 trillion?
Now, the bank is looking to target more engaged investors, who do research on stock a few times per month and who are willing to buy a bond directly instead of being owned by them through mutual funds.
It currently provides customers up to $ 700 to transfer funds to its self-guided platform.
Subsequently, the bank is working on providing the ability to execute the users after hours of stock trades, said Vienick said.
This is part of all the bank’s efforts to convince the customers who already have a bank with JP Morgan or have credits cards to integrate their wallet with the firm. By doing this, an investor will get a single approach to his finance and allow the money to be transferred immediately between the accounts, Vienick said.
Benefits of the bank – its huge branch network, deep balance sheet and reputation under Diman – Belices that JP Morgan will eventually join other big players between online brokerage.
“I am confident that a self-directed business outside the core wealth management could be a trillion-dollar business,” said Vianic. “It is going to work hard. This means that we are distributing the customers what we are asking.”
Read more: JP Morgan Chase is going to upmarket to woo American millionaires
