Online investing is helping those with no previous investing experience
A recently published government report states that “60% of non-retirees who hold self-directed retirement savings accounts, such as a 401(k) or IRA, have little or no comfort in managing their investments.”
To combat this issue, financial services issuers can utilize robo-advisor and human advisor services to provide financial planning and investing help for consumers.
One significant partnership in this category includes JPMorgan and Chase, with its online investment platform called You Invest. The platform allows Chase customers to manage their Chase banking and JP Morgan investments all in one place. With You Invest, Chase is targeting its 47 million mobile customers, 90% of whom have never previously invested.