Tag: JP Morgan You Invest
Posted on December 10, 2019
The robo advice industry will soon have a new player: Goldman Sachs. Details are limited but Rachel Schnoll, head of Goldman’s RIA platform, said that the product is built but not yet available to the public. The new robo advisor is expected to pair nicely with Marcus, Goldman’s consumer-facing bank. Both are part of Goldman’s initiative to move away from exclusively serving the ultra-wealthy and instead to bring Goldman-quality products to the mass-affluent.
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Posted on October 31, 2019
JP Morgan Enters the Fray, Vanguard Expands
All hands are on deck for automated investing. Shortly after closing Finn, its millennial-focused banking app, JP Morgan launched You Invest Portfolios—its new digital advisor with a minimum account balance of $2,500 and 0.35% advisory fee. With JP Morgan’s entrance into the digital advice space, there are only a few large U.S. banks that have yet to offer or buy a stake in a digital advisor.
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Posted on October 24, 2019
We recently spoke with Jed Laskowitz, CEO of You Invest, JP Morgan Chase’s digital investment platform. You Invest, which first launched as a self-directed trading platform in 2018, expanded the platform’s offerings this summer with the release of You Invest Portfolios, a managed portfolio solution on par with other robo advice products available today.
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Posted on October 9, 2019
Vanguard Expands its Robo Offering
Vanguard is piloting and is expected to soon release a new digital planning and automated-investing product called Vanguard Digital Advisor, according to a document filed with the SEC. Vanguard Digital Advisor will have a $3,000 minimum and an all-in fee—management and underlying fund fees—of 0.20%, placing it in direct competition with providers targeting less affluent investors. In doing so, Vanguard will undercut incumbents Fidelity and JP Morgan, who both have all-in costs of 0.35% and independents Wealthfront and Betterment, who have all-in costs of around 0.33% and 0.36%, respectively, depending on the portfolio chosen.
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