JP Morgan FT IBD HireVue/Recruiting Question

I've been applying to real estate private equity/debt shops for FT 2019, but decided why not apply to real estate IBD groups. Received an invitation to complete a HireVue for JPM. My question is, how late in the process is this for full-time IBD recruiting? I've never done any banking related internships, only RE investing (think acquisitions at a top RE shop), so I have no idea what the banking recruiting time line is like. Is the HireVue invite only a formality after applying or is there some substance to getting the invite? Thanks and excuse my ignorance on this topic.

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