JPMorgan launched a robo-advisory app called You Invest

The American investment bank JPMorgan Chase launched an automated digital investment platform, also known as a robo-advisor, called You Invest. The new system will enable even customers with as little as $2,500 to buy various stock funds, earning healthy returns on their investments.

The robo-advisor is available on Chase.com and the Chase mobile app. It’ll charge customers an annual fee of 0.35 per cent of assets, and its investment strategy will depend on customers’ risk tolerance, financial goals, and time horizon. The service has already been tested among a number of users across 27 branches in New York. Thasunda Brown Duckett, the CEO of consumer banking at Chase, says that “customers can now bank, save, borrow and invest in one of our 5,000 branches as well as on the go”.

Robo-advisors are cheaper than human financial planners

Robo-advisors are becoming an increasingly popular way to enable even less wealthy customers to invest in stock markets. Instead of expensive financial advisors, AI-driven systems allocate users’ money to various funds and earn a market-average rate of return.