This week, JPMorgan Chase & Co is going to use a low-cost computerised method to manage investments and later this year in March, plan to offer its partners to test it as well.
Last Wednesday, the company will provide information to the US Securities and Exchange Commission, and this week the company will be able to start testing the service with almost 100 employees accounts.
The goal is to offer ‘guidance and advice to a wide range of clients, regardless of whether they have several thousand dollars or more’ the Head of Digital Asset Management stated. The tests show the latest of many online investment methods called robo-advisers, whereby companies offer a cheap way to get basic recommendations and automated profile management.
Robot-advisers are seen as an inexpensive way of attracting businesses who do not yet have enough money to get good quality individual asset management.