JPMorgan Chase Expands Mobile App to Include Bond Trading, Targets $1 Trillion in Assets

New York – JPMorgan Chase, the largest U.S. bank by assets, is set to unveil a major upgrade to its mobile app, introducing new tools that allow customers to research and purchase bonds and brokered certificates of deposit (CDs) directly from their devices, a significant step as the bank targets $1 trillion in assets under self-directed management.

The rollout marks the bank’s most ambitious move yet to compete with online brokerage heavyweights like Charles Schwab, Fidelity, and E-Trade, offering enhanced fixed-income capabilities within the same digital platform clients use for everyday banking.

“Our goal was to create an experience that makes it extremely simple for clients that want to buy fixed income,” said Paul Vienick, head of online investing at JPMorgan’s wealth management division. “We’ve taken that exact thought process for the simplicity of [buying] stocks and ETFs and moved that into the fixed-income space.”

From Lagging to Leading in Digital Wealth Tools

JPMorgan has historically trailed in digital investing services but has gained ground in recent years. The new fixed-income features allow users to customize bond screens, compare yields, and trade seamlessly, all from a centralized dashboard.

Vienick, a veteran of TD Ameritrade, Morgan Stanley, and Bank of America, joined JPMorgan in 2021 with a mandate to overhaul the firm’s digital investing strategy. Under his leadership, the platform now manages over $100 billion in assets, a milestone, but still modest compared to its competitors.

“There was a recognition that in wealth management, we have some catching up to do overall,” Vienick said from JPMorgan’s Midtown Manhattan headquarters.

The bank had initially launched its digital trading platform under the “You Invest” brand in 2018. However, by 2021, CEO Jamie Dimon candidly admitted the product wasn’t performing well:

“We don’t even think it’s a very good product yet… so we’re driving that thing.”

The platform was soon rebranded as Self-Directed Investing, with major upgrades aimed at attracting more active, self-directed clients.

A Bigger Play for Affluent Clients

In 2023, JPMorgan acquired First Republic Bank, expanding its reach into wealthier client segments. Despite serving half of America’s 19 million affluent households, JPMorgan holds only 10% of their investing assets, a gap the bank now intends to close.

Currently, the bank offers up to $700 incentives to customers transferring funds into its self-directed investing platform.

Future updates include the ability to execute after-hours trades, further bridging the gap between JPMorgan’s offerings and those of more established trading apps.

“I have every belief the self-directed business outside of core wealth management can be a trillion-dollar business,” said Vienick. “It’s going to take hard work. It’s going to mean we’re delivering what clients are asking for.”

Single Financial View is the End Goal

JPMorgan’s strategic advantage lies in its deep integration of banking and investing, making it easier for clients to manage finances within a single ecosystem. By consolidating services, clients can seamlessly move funds, view complete financial snapshots, and optimize investment decisions.

“Half the people who use financial advisors also invest on their own,” Vienick noted, emphasizing the importance of providing robust tools alongside human support.

With a powerful mix of physical branch presence, strong capital reserves, and brand trust under Jamie Dimon, JPMorgan now believes it can position itself among the top-tier online brokerages, and eventually capture a greater share of America’s investment dollars.