J.P. Morgan Personal Advisors Review 2024: Pros, Cons and How It Compares
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Our Take
3.7
Reviewed in: Jan. 2024
Period considered: Aug. 2023 - May 2024
The bottom line:
on J.P. Morgan's website
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Pros & Cons
Pros
$25,000 investment minimum is low compared to similar services.
Low investment expense ratios.
Those with $250,000 in assets or more get access to a dedicated individual advisor.
Cons
Limited brokerage and portfolio management options.
Limited access to certified financial planners.
Compare to Other Advisors
Fees 0.5% - 0.6% management fee | Fees $1,000 and up per year (free initial consultation) | Fees 0.30% management fee | Fees Up to 1% per year |
Account minimum $25,000 | Account minimum $0 | Account minimum $50,000 | Account minimum $250,000 |
Promotion None no promotion available at this time | Promotion Limited time $550 kick-start offer!* Get $300 into your brokerage account if you invest & maintain $5k within your first 90 days, plus the $250 enrollment fee will be waived for new annual members. Expires Dec 31, 2024 | Promotion None no promotion available at this time | Promotion $250 off one year of financial or tax planning |
Learn more on J.P. Morgan's website | Learn more on Facet's website | Learn more on Vanguard's website | Learn more on Harness Wealth's website |
AD Paid non-client promotion | AD Paid non-client promotion | AD Paid non-client promotion | AD Paid non-client promotion |
NerdWallet doesn’t invest its money with this provider, but they are our referral partner – so we get paid only if you click through and take a qualifying action (such as open an account with or provide your contact information to the provider). Most importantly, our reviews and ratings are objective and are never impacted by our partnerships. Our opinions are our own. Here is a list of our partners and here’s how we make money.
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Full Review
Where J.P. Morgan Personal Advisors shines
Low account minimum and fees: J.P. Morgan Personal Advisors is a new player in the personal advisory space. Customers can open an account with no startup fees and a $25,000 minimum initial investment.
Annual management fees are 0.6% for clients with $25,000 to $249,999, and 0.5% for accounts with $250,000 or more.
The average investment expense ratio for funds available through J.P. Morgan Personal Advisors is 0.08%.
Where J.P. Morgan Personal Advisors falls short
Lack of flexibility: Clients must move money into a J.P. Morgan Personal Advisors account and exclusively use J.P. Morgan Personal Advisors' suite of portfolios and funds.
J.P. Morgan Personal Advisors is best for:
Comprehensive financial planning.
Low fees and investment expenses ratios.
Access to financial advisors.
J.P. Morgan Personal Advisors at a glance
Account minimum | $25,000. |
Account management, planning or subscription fee | Starts at 0.60% but tiered (drops at higher balances):
|
Setup or onboarding fee | None. |
Advisor access and credentials |
|
Financial planning services | Each client receives a holistic financial plan. |
Investment expense ratios | Average expense ratio is 0.08%. |
Portfolio construction | Clients choose from more than 20 different models according to risk tolerance and time horizon. Portfolio options include ESG fund options. |
Brokerage options | Clients must move money to invest through a Chase account. |
Accounts supported | Roth, traditional, rollover, SEP, SIMPLE IRAs and trusts. |
Tax strategy | J.P. Morgan Personal Advisors now includes automated tax-loss harvesting for all taxable accounts. |
Customer support options (includes how easy it is to find key details on the website) | Customer support by phone is available Monday through Friday, 8 a.m. ET to 9 p.m. ET. Customers also have the ability to schedule appointments with an advisor at any time. |
More details about J.P. Morgan Personal Advisors ratings
Account minimum: 4 out of 5 stars
J.P. Morgan Personal Advisors requires a relatively low account minimum of $25,000. However, some advisor services require lower or no account minimums at all.
Account advisory, planning or subscription fee: 4 out of 5 stars
J.P. Morgan Personal Advisors also offers low account management fees that start at 0.6%. While J.P. Morgan Personal Advisors fees are better than most advisory services reviewed by NerdWallet, they still trail behind Vanguard and Betterment Premium.
Setup or onboarding fee: 5 out of 5 stars
Some online financial planning platforms may charge for setting up an account or onboarding to their investment platform. J.P. Morgan Personal Advisors does not charge any of these fees.
Advisor access and credentials: 3 out of 5 stars
J.P. Morgan Personal Advisors offers clients with balances below $250,000 access to a team of advisors who can help draft a financial plan. Clients can also schedule a call with an individual advisor at any time. Clients with $250,000 or more in assets receive a dedicated financial advisor.
Investment expense ratios: 5 out of 5 stars
Investment expense ratios are where J.P. Morgan Personal Advisors shines. Investment expense ratios cover the advisory, administrative and custodial costs associated with managing the fund. J.P. Morgan Personal Advisors portfolios have a low investment expense ratio of 0.08%.
Portfolio construction: 2 out of 5 stars
Customers may select from around 20 pre-built J.P. Morgan models based on risk tolerance and preferences. The models are globally diversified across equities and fixed income and can include ESG funds, diversified ETFs and mutual funds from J.P. Morgan and other fund managers. Once you choose a portfolio, J.P. Morgan will automatically rebalance it over time as the market changes.
Brokerage options: 2 out of 5 stars
To build a financial plan, J.P. Morgan Personal Advisors customers must move money to Chase via the online portal or app. In addition, the brokerage options customers can access are limited to J.P. Morgan and Chase accounts. This contrasts with other advisory services, such as Facet Wealth, which can manage existing accounts at other brokerages.
Accounts advised: 3 out of 5 stars
J.P. Morgan may manage individual retirement accounts, joint accounts, accounts with beneficiaries, and trusts on behalf of clients through J.P. Morgan Personal Advisory and Chase.
Tax strategy: 4 out of 5 stars
J.P. Morgan Personal Advisors uses tax-exempt municipal bonds to lower the overall tax liability of a financial portfolio and now also offers tax loss harvesting to advisory clients.
Customer support options: 3.5 out of 5 stars
Customer support is available by phone from 8 a.m. to 9 p.m. ET Monday to Friday, 9 a.m. to 5 p.m. ET Saturday, or anytime via digital assistant on the Chase app or website.
Is J.P. Morgan Personal Advisors right for you?
J.P. Morgan Personal Advisors does require customers to move funds onto its platform. Still, its competitive fees and lower minimums may be helpful to investors looking for advisory services with a lower barrier to entry. Each client receives a customized holistic financial plan and automatic tax loss harvesting.
How do we review financial advisors?
NerdWallet’s comprehensive review process evaluates and ranks companies that provide financial planning services online or connect users to a financial advisor. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgments on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.
We collect data directly from providers through detailed questionnaires and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, demonstrations, interviews of personnel at the providers, and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across 14 factors. The final output produces star ratings from poor (one star) to excellent (five stars). Read our full methodology for more details about our process and the categories considered when rating brokers.
INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
on J.P. Morgan's website
