Reviewed in: March 2023
Period considered: Feb. - March 2023
The bottom line:
Unpaid non-client promotion
Pros & Cons
Relatively lower account minimum at $25,000.
Low investment expense ratios.
Those with $250,000 in assets or more get access to a dedicated individual advisor.
Limited brokerage and portfolio management options.
No tax-loss harvesting.
Limited access to certified financial planners.
Compare to Other Advisors
$2,400 and up
per year (free initial consultation)
Up to 1%
Get $300 reward
into Facet brokerage account for new members who transfer at least $5,000 within the first 90 days of their Facet membership.*
no promotion available at this time
one year of financial or tax planning
on Facet's website
on Vanguard's website
on Harness Wealth's website
Paid non-client promotion
Paid non-client promotion
Paid non-client promotion
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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 range from 0.6% for clients with $25,000 to $249,999, 0.5% for accounts with $250,000 to $1 million and 0.4% for accounts over $1 million.
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 management, planning or subscription fee
Starts at 0.60% but tiered (drops at higher balances):
Setup or onboarding fee
Advisor access and credentials
Financial planning services
Each client receives a holistic financial plan.
Investment expense ratios
Average expense ratio is 0.08%.
Clients choose from more than 20 different models according to risk tolerance and time horizon. Portfolio options include ESG fund options.
Clients must move money to invest through a Chase account.
Roth, traditional, rollover, SEP, SIMPLE IRAs and trusts.
Assets are allocated strategically and include the use of municipal bonds. No tax loss harvesting or other tax services are offered.
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: 2 out of 5 stars
J.P. Morgan Personal Advisors uses tax-exempt municipal bonds to lower the overall tax liability of a financial portfolio. However, they do not offer tax loss harvesting or other tax strategies and services.
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. However, some services, such as access to tax loss harvesting, are not available.
How do we review financial advisors?
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