03 / fidelity investments / product design. 2024
Set it & forget it: a net new product for native and web
Summary
The ability to auto invest into stocks, etfs, and mutual funds is a highly requested feature across our wide-ranging customer demographic. It helps young customers dollar-cost average into savings over a long period of time, and it allows experienced traders to customize trades they want to execute at a predictable pace. This project worked across teams in the organization to launch a recurring investment and transfers product feature.
users cannot auto invest into stocks, ETFs, & unowned mutual funds
problem
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?
addressing the existing flow
zooming out
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.
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.
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”.
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.
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”.
two-stage launch process
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.
quick access & multi-security trades
01. quick access to recurring investment hub & trade ticket
Customers have responded very positively to the new product offerings, with numbers that attest to its product usefulness across a wide user demographic.
02. multi-invest add/delete securities
Customers have responded very positively to the new product offerings, with numbers that attest to its product usefulness across a wide user demographic.
net new product with big impact
business impact
Customers have responded very positively to the new product offerings, with numbers that attest to its product usefulness across a wide user demographic.