J.P. Morgan Wealth Management has introduced a free digital money coach called J.P. Morgan Wealth Plan to help customers with their finances.
The service of the digital money coach can be availed by all 62 million digitally-active customers of Chase in the Chase Mobile app and Chase.com, stated the financial services firm.
J.P. Morgan US wealth management CEO Kristin Lemkau said: “Wealth Plan will be available for free to all customers inside the Chase app. This allows customers to see their savings and spending, and then set up their goals, like retirement, college savings or a vacation.
“They can explore options for how much they should save or invest to achieve that goal over time. We think it’s one of the best tools available and people will love it.”
Wealth Plan will help clients to get an overall view of their financial accounts including those outside of Chase.
Customers will be able to set and track goals in real time with the help of the digital money coach, and can receive individualised, step-by-step assistance on the next steps.
The new service will also allow clients to analyse and monitor the impacts of the changes on their financial future based on their current spending or savings.
In addition, J.P. Morgan Wealth Plan will assist customers to schedule a video meeting and work one-on-one with a J.P. Morgan financial advisor.
J.P. Morgan Wealth Management digital planning and advice head Sam Palmer said: “Wealth Plan lets clients take control of their finances and interact with us however they choose, which increasingly is digitally.
“And if they want to speak with an advisor, they can schedule a meeting right in the Chase app, and easily share their goals to have a meaningful conversation from day one.”
The digital money coach will also offer suggestions and provide educational content to enable the users to make progress toward their goals.
It will also allow the customers to see their earnings monthly, quarterly, or annually, and to compare them to their spending categories under the Plan & Track tab on the Chase app.
The tab also has features called Net worth and Goal simulator features to provide a picture of total assets and debt and to help customers set their financial goals, respectively.
