Jimmy Damon, CEO of JPMorgan Chase & Co. During a Bloomberg television interview on the sidelines of the JPMorgan China summit in Shanghai, China, on Thursday, May 22, 2025.
Qilai Shen | Bloomberg Gety pictures
Once late in the online investment game, Jpmorgan Chase Now he is believed to be a leader.
On Friday, the bank is scheduled to unveil the new tools that allow investors to search and buy bonds and deposit certificates that have been expanded through their application on the mobile phone, CNBC is the first to report.
Users can prepare custom screens and compare bond yields on the same banking or web portal they use to check their account balances, according to JPMorgan executives. The moves are part of a concerted effort to enhance the bank’s credentials between investors who trade several times a month.
“Our goal is to create an experience that makes it very simple for customers who want to buy a fixed income,” he said. Paul PhoenicOnline investment head in the wealth management arm at Jpmorgan. “We have taken this accurate thinking process simply (buy) stocks and investment funds circulating and transfer them to the fixed -income space.”
Jpmorgan, the largest American bank by assets and leader across most major financing categories, is a relatively Puny compared to other online brokerage firms. Despite seeing fixed gains in recent years as it has added jobs, including the ability to purchase fractures, the bank has crossed only $ 100 billion of management assets, CNBC learned.
This diminishes compared to online investment giants, including Charles SchwabSincerity or e -commerce, which had contracts to collect investors and acquire competitors.
“He leads this thing”
The bank first tried to increase more trillion dollars that the autonomous investors keep by launching a Free trading service In 2018. Jpmorgan called “You Invest” and marketing the new name in a batch that included a prominent position in the United States Open tennis championship.
But by 2021, Jpmorgan saw that the brand was not linking the way it was contemplating and its axis simply described it as a self -directed investment platform.
That year, with business administration about $ 55 billion in assets, CEO Jimmy Damon He invited the company’s product to him A usual sharp method.
“We don’t even think it’s a very good product yet.” He said Analysts at a financial conference. “So we lead this thing.”
Part of the JPMorgan axis was Vienick’s rental, which is an incense of the warriors of TD Ameritrade, Morgan Stanley and Bank of AmericaIn October 2021 to reform the bank’s efforts.
“There has been a recognition that wealth management, we have some attachment in general,” Venic said in an interview with him recently at the headquarters of downtown New York in downtown New York City.
This also includes managing more money The American wealthy Through financial advisors on physical sites, the batch that was helped by Jpmorgan’s was 2023 The acquisition of the first republic. Jpmorgan Banks half of the archaeological families in the country but only have a 10 % A share of its investment dollars.
Industry now realizes that providing good online tools is the table classes, even if the focus is on human financial advisors who earn more revenues by providing more services.
Venenik said about half of those who use a financial advisor invested alone using online tools.
Next station: 1 trillion dollars?
Now, the bank is looking to target more participating investors, and those who are looking and buying shares several times per month and who tend more to buy direct bonds instead of owning them through joint investment funds.
Customers currently provide up to $ 700 to transfer money to their self -directed platform.
After that, the bank provides users with the ability to implement stock deals after working hours.
All of this is part of the bank’s efforts to persuade customers who already suffer from JPMorgan or have its own credit cards to unify more of their wallets with the company. VINIC said that this would allow the investor to have one vision of his money and immediately transfer money between the accounts.
The bank’s advantages – the vast branch network, the deep public budget and a reputation under Damon – Venic that JPMorgan will eventually join the other big players among the online brokerage companies.
“I have every belief that self -directed business outside the basic wealth management can be a trillion dollars,” said Phoenic. “It will take hard work. This means that we provide what customers ask.”
Read more: Jpmorgan Chase heads to Woo America’s Millionsirs
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