JPMorgan Chase & Co. Jamie Dimon, CEO of the company, in a Bloomberg television interview on the sidelines of the JPMorgan China Summit held in Shanghai, China on Thursday, May 22, 2025.
Qilai Shen | Bloomberg | Getty Images
JPMorgan Chase, who once lagged behind in online investment games, believes it is the leader.
The bank on Friday is set to unveil new tools that will allow investors to research and purchase bonds and brokered CDs via mobile apps. CNBC reports first.
According to JPMorgan executives, users can set up customized screens and compare bond yields in the same banking app or web portal that they use to check their account balances. The move is part of a coordinated effort to strengthen bank eligibility among investors who trade several times a month.
“Our goal was to create a very simple experience for clients who wanted to buy bonds,” said Paul Wienick, Head of Online Investment at JPMorgan’s Wealth Management Arm. “We took that exact thought process for the simplicity of [buying] Inventory and ETFs moved it into a fixed income space. ”
JPMorgan, the largest US bank by assets and the leader in most major financial categories, is relatively punished compared to other online brokerages. CNBC says that banks have only surpassed $100 billion in assets and have been steadily gaining profits in recent years, as banks have recently surpassed $100 billion in assets and banks have recently surpassed $100 billion in assets.
This pales in comparison to online investment giants including Charles Schwab, fidelity, or e-trade, who had decades to accumulate investors and acquire competing platforms.
“Driving that thing”
The bank first tried to hide the trillions of dollars held by voluntary investors in the coming of free trading services in 2018. JPMorgan called it an “investment” and sold the new name with a push that includes a prominent placement at US Open.
But by 2021, JPMorgan had been fighting to simply call it a voluntary investment platform, seeing that the brand hadn’t connected the way it was expecting it.
That year, CEO Jamie Dimon called the company’s products in his usual dull way, as the business manages about $55 billion in assets.
“We still don’t think it’s a very good product,” Dimon told analysts at the financial conference. “That’s why we drive that thing.”
Part of JPMorgan’s pivot was to hire Vienick, a veteran of TD Ameritrade, Morgan Stanley and Bank of America in October 2021.
“Wealth Management has acknowledged that there is something to do overall,” Vinik said in a recent interview at the bank’s Midtown headquarters.
Enlarge the icon aro and point it outwards
It also includes managing more money for wealthy Americans through financial advisors in physical locations. This is a push that was helped by JPMorgan’s 2023 acquisition of the First Republic. JPMorgan Bank is half of the country’s 19 million wealthy households, but has only a 10% share of the invested dollar.
The industry now recognizes that providing great online tools is a table stakes, even if it focuses on human financial advisors who earn more revenue from providing more services.
About half of those using financial advisors also invest on their own with online tools, Vienick said.
Next destination: $1 trillion dollars?
Now, banks are looking to target more enthusiastic investors, investors who research and buy stocks several times a month.
It is currently being offered to customers up to $700 to move their funds to a voluntary platform.
Second, banks are working to provide users with the ability to carry out stock transactions outside of business hours, Vinik said.
This is all part of the bank’s efforts to convince customers who employ banks to JPMorgan and the banks, or to convince customers who have credit cards to integrate more wallets with the company. By doing so, Vinik said, it will allow investors to have a single view on their finances and move money instantly between accounts.
The advantages of the bank – its vast branch network, Dimon’s deep balance sheet, and reputation under Dimon – is confident that Vynick will eventually join other major players within the online brokerage.
“I have all the beliefs that a voluntary business other than core wealth management could become a trillion dollar business,” Vinik said. “It’s going to be a lot of work, and that means you’re providing what your clients want.”
Read more: JPMorgan Chase heads towards luxury markets to seduce American billionaires
