The Real Reason JPMorgan Chase Shut Down Its Robo-Advisor Services

Many firms have leaned wholly into robo-advisors — that is, automated investing platforms that rely on algorithm insights instead of human finance experts — to keep up with the modern era. However, JPMorgan Chase customers may be surprised to learn that no such platform exists for them; at least, not anymore. The firm's robo-advisor service, You Invest Portfolios, was actually first launched back in 2019. Interestingly, this launch occurred shortly after TD Ameritrade lowered the required account minimum on its own automated investor system, and after fintech leader Wealthfront became even more competitive with the introduction of its high-interest savings cash account. 

However, the service came to a halt in December 2023, when JPMorgan announced it would be ending its robo-advisor due to affordability issues and a lack of customer interest. A JPMorgan Chase spokesperson further confirmed this to ThinkAdvisor, stating "The robo investing business did not take off in the wealth industry as expected. It hasn't scaled or become profitable for many, including us."

Even so, the short life of You Invest Portfolio may come as a surprise to those who've been keeping tabs on fintech, or AI's impact on the financial advisory industry in general. When robo-advisors began taking off in the early 2010s, they were heralded as an innovative technology poised to dominate the world of wealth management by making investing more readily accessible to people of all income levels. Plus, they've been mainstream for several years now — relying increasingly on advanced AI learning to do everything from automating portfolios to balancing taxes and fees with rewards. 

JPMorgan's statement that robo investing failed to take off — and that others have also been negatively impacted — appears to largely only be the case for more traditional brokerage firms. For instance, Charles Schwab, U.S. Bank, and UBS all closed or reduced their automated investing offerings in 2025 through early 2026. However, it's likely these companies misjudged who the industry appeals to most. It's worth noting that the bulk of the best investing apps out there don't belong to traditional brokerages at all, but rather fintech startups like Acorns, Coinbase, and Wealthfront — all of which advertise easy, beginner-friendly services catering to younger audiences. While the average JPMorgan You Invest Portfolios user was around 42 years old — and JPMorgan clients average age 56 – the majority of clients for many of these fintech-focused companies are under 40.

The decision to close robo-advisors also contrasts with the high level of optimism surrounding investing automation over the past few years. A Market Research Intellect report showed that robo-advising was valued at $1.4 trillion in 2024, and is anticipated to grow to $3.2 trillion by 2033. Market analysis by Grand View Research likewise estimated a compound annual growth rate of 30.5% through 2030, and a 2023 YouGov survey found that almost half of Americans reported they were likely to trust a robo-advisor when compared to a human advisor. Still, not all platforms are created equal, so it's important to know what you're getting into when considering an automated investor platform.