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But the bank would rather you call it an “automated” adviser and whilst Mr. Dimon didn’t say how much money the bank had devoted to building its robo-adviser, he did say in his annual letter that roughly $600 million was being devoted to “emerging fintech solutions”.
reviously, 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. “If you’re a good account, it’s no different than [Amazon CEO] Jeff Bezos doing the $99 Prime and adding services to it, so you’re always making the clients satisfied,” Dimon said at the time. Other banks have started to dive into the automated investing space, with Goldman Sachs Group Inc. purchasing retirement savings startup Honest Dollar last summer, Bank of America Corp.’s Merrill Lynch launching one this year, and the venture arm of Citigroup Inc. investing in funding rounds for the largest independent robo-adviser Betterment LLC.
https://www.bloomberg.com/news/articles/2017-04-05/it-looks-like-jpmorgan-is-building-a-robo-adviser
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