“Alexa, find me a financial advisor.”

If Amazon is successful in creating a banking relationship with its vast customer base of millennials, can an investment advice platform be far behind?

As news broke this week that the retail powerhouse is seeking to partner with Capital One or JPMorgan to offer a hybrid checking account to millennials, the notion that the retailer is on track to begin to convert its oceans of shoppers into financial account holders began to sink in.

“We all know Amazon has the most intuitive AI (artificial intelligence) and machine learning because we’ve all been served up products as a result. Now they are working to leverage that vast data and tools as they create a financial platform,” said Advicent COO Tony Stich.

Stich predicts that Amazon, a company with a $700 billion market cap, will offer three levels of investment accounts to millennials and interested customers: It could offer do-it-yourself accounts and robo-advisory accounts; and for those who want a personal advisor, Amazon could create and refer customers to a state-by-state network of select investment professionals.

If the company decides to use a retainer fee for advisory accounts, “they’ll drive down fees, maybe even to the point where it’s difficult to compete,” Stich said. “Due to their critical mass, vast database and ability to charge lower fees, I think they’ll be able to rationalize retainer fees with regulators where others have had challenges.”

Who knows their customers’ shopping and purchasing habits better than Amazon?

“They’ll be able to leverage the cadence of their customers’ buying preferences in their creation and marketing of any financial platform,” Stich said.

And who knows Amazon better than millennials? Some 38% of that generation said they would trust the retailer to handle their finances just as much as they trust a traditional bank, according to a recent LendEDU survey of 1,000 Amazon customers.

“I can see Amazon offering different levels of personal loans and higher-yield checking accounts,” Stich said. “They’ll help customers accumulate this wealth and leverage that wealth in a number of exciting ways.” He said Amazon could even create loan pool investment products and offer crowdfunding opportunities in ways most RIAs have not done.

“The sky is the limit,” he said.

While retailers like Walmart have failed in their attempts to enter the banking space after facing regulatory roadblocks, Amazon is using a collaborative approach. The company asked for conceptual pitches from Capital One, JP Morgan and several other banks last fall.

Collaboration “is the right way to go,” Stich said. “I suspect the feds will start sniffing around. However, if Amazon partners with a Wall Street bank with FDIC insurance and an RIA, that will be a clear advantage,” said Stich, who predicted Amazon could compete with, if not overtake, Overstock.com’s robo-advice product fairly quickly.

Overstock introduced its investment advice platform for $9.95 a month in January. The investment selection and management platform is powered by FusionIQ’s proprietary algorithm for scoring stocks and exchange-traded funds.

“This service introduces robo-advising investment management services to our millions of customers and continues Overstock’s commitment to bridging Wall Street and e-commerce,” said Patrick M. Byrne, Overstock’s founder and CEO, in January.

While there is no word yet on Amazon’s next move, both Capital One and JPMorgan have close relationships with the retailer. Capital One is one of the biggest users of Amazon’s cloud technology. JPMorgan has issued Amazon-branded credit cards since 2002 and both Amazon and JPMorgan are working with Berkshire Hathaway on a plan to create fairly priced group health care plans for their employees.