April 2016 Trends & Highlights: New Initiatives, Advanced Mobile Options and Fidelity Go

by on May 11, 2016



  • Firms Add Advanced Mobile Options – This month Wells Fargo added Touch ID support on the Wells Fargo iPhone app for clients with iOS 9 or higher. iPhone 6S users can access a 3D Touch menu and shortcut capabilities for TD Ameritrade Mobile Trader while U.S. Bank iPhone, iPad and Android app users can access a new Instant Balance pre-login feature. Bank of America added fingerprint authentication for check deposits and ordering features, and Ally Bank added Apple Pay, the contactless payment service.
  • Firms Release New Credit Card Products – Three firms released new credit card products this month. Charles Schwab released two co-branded American Express credit cards—the Schwab Investor Card and the Platinum Card for Schwab—each of which offers the ability to apply cashback with Schwab brokerage accounts. Barclaycard US introduced the JetBlue World MasterCard and is heavily promoting it on social media. Chase also added new cards—a Chase Freedom Unlimited card and an AARP co-branded card—with a focus on cash back.
  • New Initiatives in Season – Three firms released new initiatives this month. Athene launched the 3,2,1…Grow! marketing plan with minimal information outside of the advisor site, introduced changes to two existing products and launched a new product. KeyBank introduced a financial wellness program connected to the financial tracking and resource HelloWallet application. John Hancock expanded the Vitality Solution by adding a HealthyFood program that rewards policyholders for healthy habits. The new initiative offers discounts in stores where clients can earn cash back on grocery bills with program points contributing to a premium discount.


Fidelity Pilots Robo-Advising Service

Fidelity announced its pilot of Fidelity Go, a new robo-advisor. The firm expects to launch Fidelity Go later in the year with a .35% to .39% annual fee and a $5,000 minimum investment. Predominantly, the automated advisor will use passive investments like the Fidelity Spartan index mutual funds; however, actively managed funds are an option as well.

Lincoln Financial Debuts Revamped Site

The firm’s new private site features improvements in navigation and transaction and a new Learning Center, which is a portal to the public site educational content. The revamped site, which mimics Lincoln’s advisor site Book of Business, also features security enhancements.

new_private_site_header_and_footer_lincoln.pngNew Private Site Header and Footer

Bank of America Partners with Facebook Messenger

The firm joins USAA in attempting to bridge banking with social media. Bank of America has partnered with Facebook Messenger to make account information access more convenient with real-time alerts. The firm plans to launch this and other features later in the year.

social_media_posts_on_the_collaboration.pngSocial Media Posts on the Collaboration