If you can't beat 'em, join 'em.
In the summer of 2016, JPMorgan Chase & Co. CEO Jamie Dimon said his firm could give clients a free, automated investment service as part of a future bundle of digital-banking products. Well, he just revealed the bank is following through on that promise and building one.
"We are currently developing some exciting new products and services, which we will be adding to our suite and rolling out later this year," he wrote in his annual letter to shareholders.
"Online vehicles for both individual retirement and non-retirement accounts, providing easy-to-use (and inexpensive) automated advice, as well as enabling our customers to buy and sell stocks and bonds, etc. (again inexpensively)," he added.
Previously, Dimon had said that he wanted to make his firm a one stop shop for all things finance, much like Amazon.com Inc. has continued to add services for its Prime customers.
