JPMorgan Chase beefs up mobile app with bond trading as bank targets $1 trillion in assets
Once a laggard in the online investing game, JPMorgan Chase now believes it is a leader.
The bank on Friday is set to unveil new tools that allow investors to research and purchase bonds and brokered CDs through its mobile app, CNBC is first to report.
Users can set up customized screens and compare bond yields on the same banking app or web portal that they use to check their account balances, according to JPMorgan executives. The moves are part of a concerted effort to beef up the bank's credentials among investors who trade a few times a month.
"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 arm. "We've taken that exact thought process for the simplicity of [buying] stocks and ETFs and moved that into the fixed-income space."
JPMorgan, the biggest U.S. bank by assets and a leader across most major categories of finance, is relatively puny compared with other online brokerages. Despite seeing steady gains in recent years as it added functions including the ability to buy fractional stock shares, the bank has only recently crossed $100 billion in assets under management, CNBC learned.
That pales in comparison to online investing giants including Charles Schwab, Fidelity or E-Trade, which have had decades to accumulate investors and acquire competing platforms.
The bank first attempted to snare more of the trillions of dollars that self-directed investors hold by launching a free-trading service in 2018. JPMorgan called it "You Invest" and marketed the new name in a push that included prominent placement at the U.S. Open.
But by 2021, JPMorgan saw the brand wasn't connecting the way it had hoped and pivoted to simply calling it the Self-Directed Investing platform.
That year, with the business managing about $55 billion in assets, CEO Jamie Dimon called out the firm's product in his usual blunt way.
"We don't even think it's a very good product yet," Dimon told analysts at a financial conference. "So we're driving that thing."
Part of JPMorgan's pivot was to hire Vienick, a veteran of TD Ameritrade, Morgan Stanley and Bank of America, in October 2021 to overhaul the bank's efforts.
"There was a recognition that in wealth management, we have some catching up to do overall," Vienick said in a recent interview at the bank's midtown headquarters.
That also includes managing more money for wealthy Americans through financial advisors at physical locations, a push that was helped by JPMorgan's 2023 acquisition of First Republic. JPMorgan banks half of the country's 19 million affluent households but has just a 10% share of their investing dollars.
The industry now recognizes that providing good online tools is table stakes, even if the emphasis had previously been on human financial advisors who earn more revenue by providing more services.
Around half of those who use a financial advisor also invest on their own with online tools, Vienick said.
Now, the bank is looking to target more engaged investors, those who research and buy stocks a few times per month and who are more inclined to purchase bonds directly rather than owning them through mutual funds.
It currently offers customers up to $700 for moving funds to its self-directed platform.
Up next, the bank is working on providing users the ability to execute after-hours stock trades, Vienick said.
It's all part of the bank's efforts to convince customers who bank with JPMorgan already or have its credit cards to consolidate more of their wallet with the firm. Doing so will allow an investor to have a single view of their finances and move money instantaneously between accounts, Vienick said.
The bank's advantages — its vast branch network, deep balance sheet and reputation under Dimon — have Vienick confident that JPMorgan will eventually join the other large players among online brokerages.
"I have every belief the self-directed business outside of core wealth management can be a trillion-dollar business," Vienick said. "It's going to take hard work. It's going to mean we're delivering what clients are asking for."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
an hour ago
- Business Upturn
Nomad Internet Launches First-Ever Nationwide Free Internet Service for RV Parks
AUSTIN, Texas, June 21, 2025 (GLOBE NEWSWIRE) — Nomad Internet, America's leading provider of high-speed internet for rural communities and travelers, has announced the official launch of Nomad RV Free Internet , the first-of-its-kind, completely free Wi-Fi service built specifically for RV parks and their guests across the United States. With the goal to eliminate the digital divide for travelers, Nomad RV Internet is free to deploy, free to maintain, and free to use for both RV park owners and their guests. In a recent LinkedIn post , Jaden Garza (CINO Nomad Internet) said, 'The parks have been waiting for this solution for months. They want to provide seamless internet for their guests without the complexity of individual account setups.' With this unique initiative, Nomad Internet is transforming how connectivity is delivered to the RV lifestyle, empowering travelers with internet access they can count on, wherever the road takes them. A Nationwide Rollout: 4,000 RV Parks by Summer's End Nomad Internet is already in the process of launching this unique service in over 4,000 RV parks nationwide, aiming to cover roughly one-third of all RV parks in the United States by the end of the summer. Jaden said in another LinkedIn post 'Nomad Internet is uniquely positioned to deliver Wi-Fi coverage to nearly 4,000 RV Parks—representing approximately one-third of all RV parks in the United States.' The company plans to expand even further by year's end, with the long-term vision of making Nomad RV Internet a standard amenity in every park. 'Internet is no longer a luxury — it's a necessity,' said Jaden Garza. 'We're proud to offer a service that finally bridges the gap for millions of Americans who live, travel, or vacation in RVs. Our goal is simple: to deliver free, fast, and reliable Wi-Fi in every RV park across the country.' How It Works: The Nomad RV Wi-Fi Station At the core of this service is the new 'Nomad RV Wi-Fi Station,' a self-contained, battery-capable wireless internet unit that requires no existing infrastructure, wiring, or technical setup. Designed to be deployed by just plugging in the Wi-Fi Station, Nomad RV Wi-Fi Station: Connects to Nomad's private nationwide wireless network. Delivers high-speed internet access across the entire RV park. Offers consistent, secure, and maintenance-free service. Requires no tech support or investment from park owners. These stations are fully managed and monitored by Nomad's technical operations team, allowing park staff to focus on hospitality — not troubleshooting routers or fielding guest complaints about connectivity. Why Free? Fixing a Broken System For decades, RV parks have been expected to provide internet service as an amenity — yet the cost and complexity of doing so have created widespread frustration. Outdated infrastructure, poor service, and maintenance headaches have made the internet one of the most complained-about aspects of the RV park experience. Nomad RV Internet flips this model on its head Instead of forcing RV park owners to act as IT managers or invest in costly upgrades every few years, Nomad is offering a fully supported, always up-to-date network—at no cost whatsoever. Parks can easily sign up, plug in the Nomad Wi-Fi Station, and start providing premium-quality internet to every guest without any additional effort. Too many parks have had to choose between expensive tech or no internet at all,' Jaden added. 'We're removing that barrier once and for all.' Trusted by Thousands of Travelers Nomad Internet is already the largest internet provider for RVers and rural customers in the country. Known for its customer-first approach, blazing-fast service, and nationwide coverage, Nomad is trusted by digital nomads, remote workers, families, and retirees who rely on stable internet access wherever they go. Nomad RV Internet takes that commitment to the next level, transforming entire communities of travelers with the power of connection. Look for the Nomad RV Internet Badge When an RV park is powered by Nomad, guests will see the 'Nomad RV Internet' badge—a symbol that means free, fast, and unlimited Wi-Fi is available throughout the park. There are no logins to manage, no complicated network names, and no time limits—just open, reliable internet from America's most trusted rural ISP. Whether travelers are streaming movies under the stars, working remotely, planning their next road trip, or video-calling loved ones, Nomad RV Internet ensures they stay connected—no matter how far they roam. For Park Owners: Join the Movement RV park owners across the country are invited to join the Nomad RV Internet program today. There is no cost, no risk, and no hardware investment. Nomad handles everything, from shipping to setup, support to upgrades, and guests could enjoy best-in-class internet from day one. Installation works by plugging in the station in to power, and in minutes the park immediately become part of a growing national network backed by the most powerful rural wireless spectrum in the U.S. RV park owners can get started by visiting: About Nomad Internet Nomad Internet is America's largest wireless internet provider for rural and traveling customers. With a mission to close the digital divide, Nomad delivers ultra-fast, reliable internet anywhere in the country, from off-grid cabins to cross-country RVs. Every Nomad product is designed to be portable, powerful, and user-friendly, putting the internet in the hands of those who need it most. To learn more about Nomad Internet, visit: Media Contact:Company Name: Nomad InternetContact Person: Manish Roshan Email: [email protected] Website: Phone: +1 281 800 1000
Business Upturn
an hour ago
- Business Upturn
$255 Payday Loans Online Same Day No Credit Check Bad Credit Launched by Viva Payday Loans
DALLAS, June 21, 2025 (GLOBE NEWSWIRE) — Viva Payday Loans , a leader in short-term online lending, today unveiled its $255 payday loans online same day product with an optional no credit check pathway. Designed for Americans facing unexpected expenses from car repairs to medical bills, this service provides a streamlined, digital experience that delivers funds directly to borrowers' bank accounts, often within hours of approval. 'Financial emergencies don't wait for credit scores,' said Maria Delgado, Chief Product Officer at Viva Payday Loans. 'Our new $255 payday loans online same day no credit check option empowers individuals regardless of FICO history to access the cash they need without hidden fees or delays.' See If You Qualify for a $255 Payday Loan Online Same Day – Apply Today >> Bridging Urgent Expenses with $255 Payday Loans Online Same Day No Credit Check Economic pressures and rising living costs have left many households one unexpected bill away from hardship. Traditional lenders often require lengthy applications, hard credit pulls, and high minimum loan amount barriers that leave underserved borrowers seeking alternatives. With Viva's $255 payday loans online same day, applicants complete a simple form in under five minutes, choose the no credit check route if desired, and receive a fast decision based on income and bank history. Key Benefits of $255 Payday Loans Online Same Day Rapid Approval & Funding: Most borrowers see funds in their accounts within hours. No Credit Check Option: Applicants opting for payday loans online same day no credit check face no FICO-related inquiries. User-Friendly Platform: Mobile-optimized digital form requires minimal information. Upfront Transparency: All fees, APRs, and repayment schedules are presented before acceptance. Flexible Repayment Plans: Borrowers can extend terms or convert to installment loans, reducing rollover risks. Financial Inclusivity Through $255 Loans for Bad Credit A low credit score shouldn't bar hardworking Americans from emergency assistance. By focusing approval on recent deposit history and income verification, Viva Payday Loans' bad credit loans framework ensures that even those with challenging credit backgrounds can secure $255 payday loans online same day. This small-dollar advance offers immediate relief while maintaining clear, upfront disclosures to prevent surprise charges. Pairing this service with personal loans for bad credit guaranteed approval up to $1,000, Viva broadens access to responsible borrowing pathways. Underserved borrowers gain a transparent, fair alternative to high-interest, predatory lenders helping bridge cash-flow gaps today and build stronger financial habits for tomorrow. Unlock $255 Emergency Cash with No Credit Check – Start Here >> Responsible Borrowing and Transparent Terms While fast relief is essential, Viva Payday Loans is equally committed to financial wellness: Itemized Cost Breakdown: Every advance includes a clear summary of fees and total repayment. Budgeting Resources: Online calculators and guides help plan timely repayments and avoid additional fees. Income-Focused Eligibility: Approval decisions emphasize banking history over credit score. Data Security: Military-grade encryption protects personal and financial information. 'Transparency is our cornerstone,' added Delgado. 'We want each borrower to fully understand their commitment, so they're empowered—not pressured—when choosing $255 payday loans online same day no credit check.' Expanding Access with Guaranteed Approval Options Beyond the flagship $255 offering, Viva Payday Loans partners with a network of licensed U.S. lenders to deliver personal loans for bad credit guaranteed approval. These larger advances up to $1,000 combine flexible terms with straightforward qualification criteria. By removing punitive interest hikes and hard credit pulls, this expanded suite of bad credit loans ensures a continuum of support for borrowers as their needs evolve. About Viva Payday Loans Viva Payday Loans is an online loan provider in the US dedicated to quick, fair, and secure short-term credit. Leveraging advanced matching algorithms and strict lender vetting, Viva connects millions of Americans with payday loans online same day and installment options tailored to diverse credit profiles. The company's mission is to foster financial resilience through transparent products and borrower education. Media ContactMukesh Bhardwaj Email: [email protected]
USA Today
2 hours ago
- USA Today
Dump your spouse, not your assets: 7 tips for surviving 'gray divorce'
For a midlife man or woman trapped in a failing marriage, a 'gray divorce' can bring liberation. And financial ruin. A man can expect his standard of living to decline by 21% after a gray divorce. A woman's standard of living will plunge by 45%. Both partners see their wealth decline by half. Despite those perils, the divorce rate has doubled since 1990 for Americans over 55. Women are more likely to initiate a gray divorce, researchers say. They also tend to fare worse financially after the split. Here are seven tips for managing your finances in a gray divorce, from AARP and other expert sources. Don't expect the same lifestyle after a gray divorce In a divorce, spouses typically split their assets. After the breakup, however, don't expect your monthly expenses to go down by half. Each partner will now likely face separate housing payments, utility bills and insurance premiums. 'It's really starting over with basic financial planning 101,' said Michelle Crumm, a certified financial planner in Ann Arbor, Michigan. The lifestyle adjustment can be especially brutal for women, who often stay in the family home, but with a vastly diminished income. 'And they can't afford the house, and they can't afford the three pets that they have,' said Niv Persaud, a certified financial planner in Atlanta. Don't get hung up on the family home In a common gray divorce scenario, one partner keeps the home and gives up a trove of other assets to stay there. That can be a mistake, experts say. Homes aren't the same as money in the bank. They're costly to maintain. The partner who gets the home can wind up house poor. 'A lot of times, people want to stay in the family home for sentimental reasons,' said George Mannes, executive editor at AARP The Magazine. 'But it can be a trap.' Remember: You're still going to retire Retirement savings loom large in gray divorces. 'Generally speaking, what most people have is retirement accounts and equity in their home,' said Monica Dwyer, a certified financial planner in West Chester, Ohio. Just like the family home, retirement accounts 'tend to elicit strong emotions, particularly from the spouse whose name is on the account,' Diane Harris writes in an AARP report on gray divorce. In divorce, a couple's collective retirement savings may be redistributed into equitable shares, one for each partner. But how that works depends on where you live. In any of nine 'community property' states, the court splits the assets down the middle, according to Investopedia. In more numerous 'equitable distribution' states, the court divides the assets equitably, but not necessarily down the middle. Financial planners strongly recommend that divorcing couples complete a qualified domestic relations order, or QDRO. It's a legal document that spells out how retirement savings are divided. The form 'can be great,' Dwyer said, as a tool for dividing other assets in divorce. A spouse who receives funds under a QDRO generally doesn't pay a tax penalty for withdrawing them. Don't assume all assets are equal When divorcing spouses are deciding how to divvy up assets, a financial adviser can play a crucial role in divining what different assets are actually worth. For example: $500,000 in a bank account is more valuable than the same amount in a 401(k). Why? Because the retirement savings have not yet been taxed as income, and withdrawing them early can trigger a penalty. By the same token, $500,000 in a Roth IRA is worth 'a ton more' than the same amount in a traditional IRA, Crumm said: The Roth funds have already been taxed. Diamonds are forever. Alimony is not. Alimony is generally awarded in divorce to a spouse who earned less, to help them keep up the lifestyle they enjoyed during marriage. Alimony can be awarded more or less permanently, or until a spouse dies or remarries. But that arrangement is becoming far less common, AARP reports. While details vary from state to state, alimony 'is now typically designed to last just long enough for a lower-earning spouse to figure out how to become self-supporting,' Harris writes. Crumm, the Michigan financial planner, counsels her clients to save 'a good chunk' of their alimony payments. 'Alimony probably doesn't last forever,' she said. 'The person who's receiving the alimony is at a disadvantage if they aren't planning well. When that ends, it's a cliff.' Don't fight over prized possessions Many divorcing couples wage protracted feuds over cherished possessions: Keeping a favorite painting for yourself, or punishing your ex-spouse by taking it away. For a divorcing spouse who really wants to antagonize a sports fan, 'you go after the football tickets,' Crumm said. She has seen couples spar over seats at Michigan Wolverines games. When spouses can't agree on who gets what, the judge decides, and that scenario often doesn't end well. 'You're punishing yourself when you go to court, really,' Dwyer said. A better solution, she said, is to divide marital assets through mediation or 'collaborative law,' striving for a settlement outside of court. Get on with your life You aren't just divorcing your spouse: You're also divorcing yourself from their finances. Take care to remove a former spouse from your financial accounts, experts say. Change beneficiary designations on investment accounts and insurance policies to ensure your ex doesn't inherit your stuff by mistake. A divorcing spouse may need to rebuild their credit, especially if most accounts were in the ex's name. 'Be extra careful about credit cards that you have shared,' said Mannes of AARP. 'Make sure your spouse doesn't keep the account open.' It's also a good idea to monitor your credit report, Dwyer said, to make sure a former partner's history doesn't muddy your own. 'Your ex does have your Social Security number,' she said. 'If we're talking about somebody who had a problem with gambling, if we're talking about somebody who has a spending problem, then you want to lock everything down, split everything up.'
