J.P. Morgan Personal Advisors Review 2024: Pros, Cons and How It Compares

J.P. Morgan Personal Advisors offers low account minimums, fees and investment expense ratios but requires you to use its platform and financial models.
Alieza Durana
By Alieza Durana 
Edited by Chris Davis

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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Our Take

3.7

NerdWallet rating 

Reviewed in: Jan. 2024

Period considered: Aug. 2023 - May 2024

The bottom line:

J.P. Morgan Personal Advisors provides holistic financial planning with guidance from human advisors and lower account minimums and expense ratios than other advisory services.

J.P. Morgan Personal Advisors
Fees
0.5% - 0.6%
management fee
Account minimum
$25,000
Promotion
None
no promotion available at this time
Learn more

on J.P. Morgan's website

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Paid non-client promotion

Pros & Cons

Pros

  • 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.

Cons

  • Limited brokerage and portfolio management options.

  • Limited access to certified financial planners.

Compare to Other Advisors

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Fees 

0.5% - 0.6%

management fee

Fees 

$2,000 and up

per year (free initial consultation)

Fees 

0.35%

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 

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.*

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):

  • 0.6% on account balances from $25,000 to $249,999.

  • 0.5% on account balances with $250,000 and up.

Setup or onboarding fee

None.

Advisor access and credentials

  • Team of financial advisors for clients with balances under $250,000.

  • Dedicated advisor for clients with balances above $250,000.

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

Learn more

on J.P. Morgan's website