JPMorgan App Draws Millennial Investors With Lure of Free Trades
(Bloomberg) — JPMorgan Chase & Co.’s investing app is attracting newbies.
Half of customers opening accounts on the bank’s You Invest platform are millennials, according to Kunal Vaed, head of digital self-directed investing at JPMorgan. Some have been tempted to sign up by the bank’s offer of 100 free trades, he said Wednesday at a conference in Fort Lauderdale, Florida.
JPMorgan rolled out You Invest in August and plans to introduce robo-style portfolios later this year. The platform gives customers access to JPMorgan’s equity research and articles on topics such as investing and financial planning. Its “learning and insights” tab saw an uptick in readers during December’s stock market rout as clients sought to understand volatile market movements, Vaed said.