Wall Street Vies For Role In Trump Accounts

Benzinga

Wall Street firms are competing for roles in the federal “Trump Accounts” program, which will grant $1,000 investment accounts to young Americans starting in 2026. JPMorgan, Schwab, Robinhood and major asset managers plan to pitch the Treasury as Michael Dell and his wife commit $6.25 billion to expand the initiative. The Treasury will appoint an agent to manage the accounts and may help create a zero-fee index ETF as firms position for millions of potential long-term customers.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:03The federal plan to launch $1,000 Trump accounts for young Americans has moved forward as Wall

00:07Street firms compete for roles in the program, according to The Wall Street Journal. J.P. Morgan,

00:12Schwab, Robinhood, and major asset managers plan to pitch the Treasury Department as tech

00:16billionaire Michael Dell, and his wife pledged $6.25 billion to expand the initiative.

00:22The Treasury will designate an agent to create and hold the accounts,

00:26and later open a 2026 sign-up portal with an app designed by Airbnb co-founder Joe Gebbia.

00:33The program offers firms a chance to acquire millions of long-term customers,

00:37even though they would earn lower management fees than usual. The Treasury may select or help create

00:42an index-tracking ETF with no fees, building on existing ultra-low-fee funds already offered

00:47by major firms. For all things money, visit Benzinga.com.

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