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JPMorgan’s New Mobile App Offers Investors Free Trades

The war is on in the mobile investing app business.

Brokers are aiming to do whatever it takes to lower fees and incentivize new investors with commision-free trading opportunities. Well, JPMorgan Chase, the biggest bank in the United States, won’t be left behind. This megabank is trying to be ahead of the game.

Next week, JPMorgan Chase plans to launch ‘You Invest’ trading service to its’ 47 million digital users. When major news publications reported the benefits of the new app this week, the stock price of online brokers like TD Ameritrade and Schwab declined.

Why would investors want to ditch their current investing app and start a new relationship with You Invest? JPMorgan is offering 100+ commission-free online stock and ETF trades in the first year, access to the bank’s stock research, a professional portfolio-building tool, and no minimum account balance.

“There are customers out there who may not want to trust their credentials or their money to an app of the month,” said Jed Laskowitz, CEO of Intelligent Digital Solutions at JPMorgan in a statement released by CNBC.

What competitive advantage does JPMorgan have over popular investing apps like Robinhood? Many sources have noted the bank’s relationship with half of the American households. If you already love the firm’s services, you’ll gain an additional benefit by adding You Invest to your account listing. You can sign up for the You Invest app in minutes and move money between Chase accounts instantly.

We’re thinking about what’s right for our customers, helping them get invested, and stay invested and diversified,” says Laskowitz.

Do you have a Chase account? What factors do you look at before putting your money in an online brokerage account? Let us know! Leave a comment below.

Best Time in History for Women to Invest

This is the best in history for women to learn how to invest. The markets are volatile, mergers and acquisitions are frequent, and political friction is increasing uncertainty. It’s the best time for women to dive in and explore the markets because we’re not looking at a straight investment path. You have to think more strategically in this environment. And when you can learn how to navigate a period of turbulence, you unlock another level of possibilities that you can tap into as an investor.

If you are starting your investment journey, join The Wealthy Woman Investor to gain the foundational skills and market insights you need to build your first investment portfolio.

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Disclaimer: Wealthy Women Daily is solely educational and informational, and is not intended to give investment or trading advice of any kind. Not all asset classes are suitable for all investors. Before investing, you should carefully consider each Fund’s investment objectives, risks, charges, and expenses. Wealthy Women Daily is a research academy that provides you with the data and analysis you need to make an informed investment decision. It is your responsibility to talk to an expert to understand how specific investments will impact you during tax time. 

About Charlene Rhinehart, CPA

Charlene Rhinehart is a Certified Public Accountant, Founder of Wealthy Women Daily, and Editor-in-Chief of the Dividend InvestHer and The Wealthy Woman Investor. Charlene is currently the Chair of the Illinois CPA Society Taxation Individual Committee. With over a decade of experience in the financial services industry, Charlene is one of the few leaders who design insights specifically for the woman investor. Charlene’s work has been featured in a variety of publications including the Huffington Post, Black Enterprise, and the American Institute of Certified Public Accountants. In 2019, Charlene released her book “Dividends Are a Queen’s Best Friend”, on Amazon.

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