NEW YORK: JPMorgan Chase & Co is powering up a lower-cost computerized investment management tool this week and plans to offer the robo-adviser to some clients next March and on a wide scale in the middle of the year.
The company will file required disclosures on Wednesday with the US Securities and Exchange Commission, bank officials told Reuters, so they could start testing the service this week with fewer than 100 employee accounts.
The goal is to offer "guidance and advice for a broad range of clients, whether you have a few thousand dollars, or more," said Kelli Keough, head of digital wealth management.
The service, piloted as JPMorgan Digital Investing, is the latest in a raft of online investing tools called robo-advisers that firms offer as a low-cost way to get basic advice and automated portfolio management.
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