JPMorgan rolls out robo-advisor

JPMorgan rolls out robo-advisor

JPMorgan has rolled out a digital investment service, You Invest, targeting customers with as little as $2500 to invest.

Available on Chase.com and the Chase mobile app, the service builds portfolios to match individual consumer preferences for risk tolerance, financial goals and time horizon.

Portfolios are created using a diverse mix of JPMorgan ETFs and customers are charged an industry average annual fee of 0.35% of assets, or 35 basis points.

The robo-advisory roll out comes after a year of user trials at 27 branches in New York.

“Customers can now bank, save, borrow and invest in one of our 5,000 branches as well as on the go,” says Thasunda Brown Duckett, CEO of consumer banking at Chase. “Our firm continues to invest in technology and experiences that help customers make the most of their money, so that they can makes the most of their lives.”

You Invest is an extension of You Invest Trade, a self-directed digital brokerage product launched by the bank last year.

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