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Auto Invest
Fidelity Investments
Product Design. 2024
The ability to set up recurring investments in stocks, etfs, and mutual funds was a highly requested feature across our wide-ranging customer demographic. Working across product teams, we launched a new cross-platform auto investing and transfers experience that met the diverse needs of our users. Investing at a recurring basis helps young customers dollar-cost average into savings over a long period of time, and allows experienced traders to customize trades they want to execute at a predictable pace. Set it & forget it: a net new product for native and web.
With project partners:
Adalynn Geer & Mike Aiello
Adalynn Geer & Mike Aiello
Problem
Long flow, no auto investing for stocks/ETFs
Before we launched the new recurring investments experience in Nov 2023, there was no way to automatically invest stocks or etfs. Users could auto invest mutual funds that they already owned. This latter flow could be found inside recurring transfers- a location that felt singular and out of place. How might we resolve structural issues within our existing offerings, and launch a net new product that benefits our users and business goals?
Net new product with big impact
Meeting customer demand & business strategy
The new recurring investments experience includes new trade types: stocks/ etfs, mutual funds, and Fidfolios baskets. This new experience also provides a common hub from which to track all forms of recurring activity, but bifurcates the investments from cash transfers for easier management.
Customers have responded very positively to the new product offerings, with numbers that attest to its product usefulness across a wide user demographic.
Replace existing product > Release I > Release II
Zooming out
The existing “Scheduled transfers & investments” experience offers automatic transfers into a user’s retirement accounts, FidelityGo accounts, and cash transfers into a core account. If the user owns mutual funds, they can opt to schedule cash transfers into these positions as well. The existing experience is a multi-screen flow, which allows users to focus on one task at a time, but risks dropoff. It is also not immediately clear where these active plans are managed.
Users can now enter the trade screen in two clicks. Using the original “Scheduled transfers & investments” entry point, users land on a new recurring investments hub, where they can manage active recurring plans, or execute a new trade or transfer from “Create”.
Release II: Auto invest up to 10 symbols
Zooming in
We’ve launched two versions of the recurring investment trade ticket. We launched MVP with a single-security trade ticket in November 2023. We followed up, in the Jan 2024 release, with the multi-security trade ticket. Users can now add multiple symbols (up to 10) into a single recurring trade.