JPMorgan Chase agreed to buy OpenInvest, a financial-technology firm that offers services for values-based investing.
Founded in 2015, OpenInvest is backed by Andreessen Horowitz and Y Combinator, among others, JPMorgan said Tuesday in a statement. Terms of the transaction weren’t disclosed.
“Clients are increasingly focused on understanding the environmental, social, and governance (ESG) impact of their portfolios and using that information to make investment decisions that better align with their goals,” Mary Erdoes, CEO of JPMorgan’s asset- and wealth-management business, said in the statement.
The acquisition follows JPMorgan’s
With returns in flux because of rock-bottom interest rates and volatility, investors have been focusing more on how their portfolios perform after accounting for taxes. At the same time, many are stressing the importance of sustainable and socially-conscious investing.