Expect to see more robo-advice wealth platforms in 2018
JPMorgan Chase reportedly plans to offer a robo-advice servicein March 2018 – and we can expect a lot more such platforms in 2018
The robo-advice service called, JPMorgan Digital Investing, is expected to be offered to some clients in March 2018 and on a wider scale in the middle of next year.
Reuters said the company was to file required disclosures on 20 December 2017 with the U.S. Securities and Exchange Commission, so they could start testing the service this week with fewer than 100 employee accounts.
Kelli Keough, head of digital wealth management at JPMorgan Chase was quoted by Reuters as saying the goal is to offer “guidance and advice for a broad range of clients, whether you have a few thousand dollars, or more”.
Keough reportedly said the bank will also lower the $5,000 minimum investment being used during testing with employees. “We are exploring and testing a variety of different pricing mechanisms.”
JPMorgan Chase is said to have developed the service in-house with InvestCloud.