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JPMorgan Chase was founded in 1799 and is now the largest bank in the United States. The Personal Advisors program is part of the J.P. Morgan Wealth Management division, which also offers self-directed investment accounts, annuities, life insurance, and estate planning services.
With Personal Advisors, you receive a custom financial plan built specifically with your goals, risk tolerance, time horizon, etc., in mind. Based on this, you will be matched to a portfolio. They can also advise on what type of account is right for you and how much to invest. Personal Advisors is distinct from J.P. Morgan’s Private Client Advisors product, which will help you build a custom investment portfolio.
J.P. Morgan Personal Advisors is a low-cost investment advisory service for individuals who want help reaching their financial goals. You’ll have access to a team of experts to help you determine your goals and the best way to achieve them.
Personal Advisors offers access to 20+ expert-built portfolios that range from conservative to aggressive. You can supplement these portfolios with your stock, ETF, options, bonds, and mutual fund investments, although Personal Advisors offers limited support for these self-directed investments.
The program is ideal for anyone who needs guidance planning future goals like retirement or buying a home. All advisors are fiduciaries, so they’re legally bound to have your best interests in mind when making investment recommendations. Personal Advisors is also much cheaper than other financial advising services.
J.P. Morgan Personal Advisors is suitable for anyone who wants access to human financial advisors but doesn’t want to spend thousands of dollars annually. You’ll pay just 0.6% per year for portfolios up to $250,000. So, for a $100,000 portfolio, the fee will be only $600 per year.
Personal Advisors is also good for investors who don’t want limits on how much they can contact their advisors. You can schedule unlimited phone and video meetings with your advisory team at no extra cost.
It’s important to note that, unlike some advisory services, Personal Advisors will not help you build a custom investment portfolio. Instead, your team will help you define your goals and choose a suitable pre-made portfolio. You can customize your portfolio using a J.P. Morgan Self-Directed Investing account.
With Personal Advisors, you’ll benefit from a team of experienced investment advisors. You’ll have a single advisor at first, who will help you define your investing goals and set up your portfolio. After that, you may work with a different advisor when you schedule a meeting. J.P. Morgan’s advisors are fiduciaries, so you can be confident they work in your best interest.
Twenty-two expert-made portfolios are available, ranging from conservative to aggressive. The portfolios are made up of ETFs and mutual funds. Your portfolio will rebalance automatically as allocations shift over time.
Note that J.P. Morgan doesn’t provide details about the performance of these portfolios.
You can manage your J.P. Morgan accounts from the same online dashboard or the Chase mobile app. You can also easily transfer cash from a Chase bank account to your Personal Advisors investment account.
J.P. Morgan Personal Advisors now offers automated tax-loss harvesting.
Your advisory fee will depend on your assets under management:
Assets under management | Annual fee |
$25,000-$249,999 | 0.6% |
$250,000-$1 million | 0.5% |
Greater than $1 million | 0.4% |
You must invest a minimum of $25,000 to open an account with Personal Advisors.
No management fees are associated with the portfolios you invest in, and all trades within the portfolios are commission-free. Annual advisory fees do not include operating expenses on the investments in your portfolio—fees similar to what you would pay if you invested on your own.
You can start with J.P. Morgan Personal Advisors by contacting the company (833-930-4515) and scheduling a free financial planning meeting. You’ll discuss your financial goals with your advisor to determine if the Personal Advisors product suits you. You can also discuss whether you need an individual brokerage account or an individual retirement account (IRA).
You can then apply to open an account. Your advisor will help you with this process as needed. You can fund your account with a bank transfer or by rolling over investments from another broker or a retirement plan. Your advisor will then assist you in investing in the expert-built portfolio that’s best for reaching your goals.
Opening an account typically takes two to three meetings with your advisor. They’re available to help every step of the way, making the process easy—even for first-time investors.
If you want to change which portfolio you’re invested in at any point, you can schedule a meeting with your advisory team. Discuss the changes you want to make, and your team will adjust your investments accordingly.
Chase has a free mobile app available for iOS and Android. You can use the app to monitor your portfolio performance and view your progress toward the financial goals you defined with your advisory team.
In addition, the app includes a range of financial planning tools, such as retirement calculators and goal-planning tools. You can even schedule phone or video meetings with your advisory team from the app.
I found the app very easy to use. If you supplement your Personal Advisors portfolio with a Self-Directed Investing account, you can manage all your investments from the same app.
JPMorgan Chase is the largest bank in the US and has been operating for nearly 225 years. It has more than $3.2 trillion in assets under management. Notably, JPMorgan Chase has been involved in stabilizing the US economy during periods of turmoil in the banking industry, including in 2008 and 2023.
JPMorgan Chase has an AA- financial stability rating from Fitch Ratings and an A rating from the Better Business Bureau. JPMorgan Chase is also a member of the Securities Investment Protection Corporation, which insures your invested assets up to $500,000 in case of a bank failure.
Your team of advisors is available by phone and video from 8am-9pm (ET), Monday-Friday. You can schedule a meeting from the app. I found it’s usually easy to get an appointment within a few days.
If you need help with your account, you can visit any Chase bank branch or contact Chase 24/7 by phone. When I called, I connected to an agent in less than two minutes.
Additionally, the Chase website also has an online help center.
J.P. Morgan Personal Advisors is an inexpensive investment advisory service for individuals who want help achieving their financial goals. Your team of advisors can help match you to the right pre-made portfolio based on your needs and provide advice about how much to invest.
You can schedule a meeting to discuss your finances and start investing without risk. You can schedule an unlimited number of meetings with your advisors. Knowing you can get help or change your portfolio at any time provides a lot of peace of mind.
Overall, J.P. Morgan Personal Advisors is an excellent advisory service at a low price.
JPMorgan Chase & Co., 270 Park Avenue, New York, NY 10017
How is J.P. Morgan Personal Advisors different from Private Client Advisor?
J.P. Morgan Personal Advisors requires a minimum investment of $25,000 and helps match you with one of four pre-made investment portfolios. Private Client Advisor requires a minimum investment of $100,000 and can help you build a custom portfolio. Personal Advisors starts at 0.6% or less per year, while Private Client Advisor starts at 1.45% or less per year based on the assets you have with J.P Morgan.
How much does J.P. Morgan Personal Advisors cost?
You’ll pay a fee of 0.4%-0.6%, depending on the size of your portfolio. The minimum investment to open a Personal Advisors account is $25,000.
Can I change my investments with Personal Advisors?
You can change which of the 20+ available portfolios you’re invested in at any time. Schedule a meeting with your advisory team to discuss the changes you want to make.
