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J.P. Morgan Wealth Management Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

J.P. Morgan Securities is the main wealth management arm of J.P. Morgan Chase, a major international financial services company. The firm is headquartered in New York City, and it has additional offices across the U.S., Europe, Middle East, Africa, Latin America and Asia. As you might expect, the firm has billions of dollars in assets under management (AUM), as well as thousands of financial advisors on staff. 

The firm helps individuals and institutions build investment portfolios and manage their wealth. It accepts individual investors, both with and without a high net worth. The firm also serves institutional clients, such as pension and profit-sharing plans, charitable organizations, insurance companies and corporations.

J.P. Morgan Securities Background

J.P. Morgan Securities is wholly owned subsidiary of J.P. Morgan, one of the most well-known names in American finance. Because J.P. Morgan Securities is an arm of a global financial services company, its advisors have access to a variety of financial services products and research.

If you go back far enough, the earliest successor company to what is now known as J.P. Morgan Chase, the Bank of the Manhattan Company, was founded in 1799 by infamous Founding Father Aaron Burr. A series of mergers and acquisitions since the 1990s have created the large company that currently operates worldwide. It is publicly traded on the New York Stock Exchange under the ticker JPM.

J.P. Morgan Securities Client Types and Minimum Account Sizes

J.P. Morgan Securities primarily serves non-high-net-worth and high-net-worth individuals. However, it also works with a wide range of institutional clients. Its current client base includes pension and profit-sharing plans, charitable organizations, insurance companies, and businesses.

There is no hard-and-fast minimum account size required at J.P. Morgan Securities. Instead, the minimum required investment depends on what program you're enrolled in:

  • Mutual Fund Advisory Portfolio (MFAP): $50,000
  • Chase Strategic Portfolio (CSP): $50,000
  • J.P. Morgan Core Advisory Portfolio (JPMCAP): $10,000
  • Advisory Program
    • Equity accounts: $50,000
    • Fixed-income accounts: $100,000
  • Fixed-Income Advisory Program (FIAP)
    • Tax-aware DFI strategies: $250,000 
    • Taxable DFI strategies: $500,000 
    • C-BoS taxable and tax-aware investment strategies: $1,000,000
  • Portfolio Advisor Program: No minimum
  • Portfolio Manager Program: No minimum
  • Strategic Investment Services Program (STRATIS)
    • Tax-exempt fixed-income/high-yield fixed-income: $250,000
    • All other strategies: $100,000
  • Unified Managed Account (UMA) Program: $35,000 - $250,000
  • Investment Counseling Service: $100,000
  • J.P. Morgan Automated Investing Program: $500
  • J.P. Morgan Guided Annuity Program: $50,000

Services Offered by J.P. Morgan Securities

As you can see above, there are many different programs and services available through J.P. Morgan. Among these are various high-net-worth- and non-high-net-worth-focused offerings, with specific strategies built out for each. Some of these focus on equities, while others are centered around fixed-income securities and various types of funds. Which program is best for you will depend on what your goals for the future are, as well as how much you have available to invest.

Financial planning is also part of what J.P. Morgan's financial advisors can offer. These can cover a wide variety of topics, like retirement planning, healthcare planning, estate planning, Social Security planning, education fund planning, wealth planning, philanthropic gift planning and more.

Advisory Services Through Chase Private Client

Should you go through J.P. Morgan Chase Bank, you may come across the Chase Private Client program. This program offers an all-inclusive set of services that addresses not only your investment and financial planning needs, but also other areas of your financial life, such as credit cards, banking and mortgages. A certified J.P. Morgan advisor will walk you through everything. You will, however, need at least $150,000 in investable assets to gain eligibility for Chase Private Client.

In addition to a dedicated advisor, the investing benefits of Chase Private Client include a customized financial analysis, a free account with J.P. Morgan Self-Directed Investing and free online stock and exchange-traded fund (ETF) trades. You’ll also gain eligibility for special Chase credit cards, exclusive lending opportunities, free wire transfers and ATM withdrawals abroad with no foreign exchange rate adjustment fees.

J.P. Morgan Securities Investment Philosophy

Each advisor at J.P. Morgan Securities will bring his or her own style to the table. Generally, though, there are a few investment styles that are used across the firm. These include equity investing, an income-oriented, fixed-income style and a balanced portfolio that mixes equity investing with bond investments.

Advisors who use the balanced portfolio strive to have neither of the two styles represent more than 80% of a client’s asset allocation. Within this trio of styles, there are a variety of other strategies, including all-cap, core, large-cap and mutual fund options.

Fees Under J.P. Morgan Securities

For those using J.P. Morgan Securities for its portfolio management program, there is a wrap-fee program that covers just about everything related to the program, including management services, execution of transactions, clearing and settlement of trades, custody of client’s assets and periodic written performance reviews. For the MFAP, CSP, JPMCAP, J.P. Morgan Guided Annuity Program and Advisor Program, the following fee schedule applies:

MFAP, CSP, JPMCAP, J.P. Morgan Guided Annuity Program and Advisor Program Fee Schedule
Assets Under Management Fee Rate
$0 - $250,000 1.45%
$250,000 - $500,000 1.30%
$500,000 - $1,000,000 1.15%
$1,000,000 - $2,000,000 1.00%
$2,000,000 - $5,000,000 0.75%
$5,000,000 - $10,000,000 0.65%
$10,000,000 - $15,000,000 0.55%
$15,000,000 - $25,000,000 0.50%
$25,000,000 - $50,000,000 0.40%
More than $50,000,000 0.30%

In addition to the account fees listed in the table above, most clients will also need to pay some sort of manager fee. Some of these charges are more extensive than others, as the rates you're given depend upon the type of manager and asset class you're subscribed to. Here's a layout of the fees ranges to expect for each program:

  • Strategic Investment Services Program (STRATIS): 0.12% - 0.75%
  • Unified Managed Account (UMA) Program: 0.15%
  • Investment Counseling Service: 1.00%
  • J.P. Morgan Automated Investing Program: 0.35%

The table below illustrates estimated fees for the MFAP, CSP, JPMCAP, J.P. Morgan Guided Annuity Program and Advisor Program services at J.P. Morgan Securities:

Estimated Investment Management Fees at J.P. Morgan*
Your Assets J.P. Morgan Securities Fees
$500K $6,875
$1MM $12,625
$5MM $45,125
$10MM $77,625
*Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount.

What to Watch Out For

J.P. Morgan Securities has a large number of disclosures on its SEC record. These apply to both the firm itself and its advisory affiliates, with past legal and regulatory issues involving:

  • Being convicted of or pleading guilty or no contest to a felony
  • Being found by the SEC to have made a false statement or omission
  • Found in violation of SEC or CFTC regulations or statutes
  • Had the SEC or CFTC entered an order against the company for an investment-related activity
  • Various disclosures related to regulatory agencies, including making false statements or omissions
  • Various disclosures related to self-regulatory organizations, including making false statements or omissions

If you’ve searched for financial advisor services through J.P. Morgan Chase, there’s a chance you saw a slightly different company name than J.P. Morgan Securities. J.P. Morgan operates under a number of alternate names, such as:

  • Chase Private Client
  • J.P. Morgan Asset Management
  • J.P. Morgan Wealth Management
  • J.P. Morgan Alternative Asset Management
  • J.P. Morgan Prime
  • J.P. Morgan Private Wealth Management
  • J.P. Morgan Institutional Investments
  • J.P. Morgan Private Investments

As a fee-based firm, certain advisors at J.P. Morgan may be able to sell financial products on a commission basis. While this represents a potential conflict of interest, the firm's fiduciary duty means it's legally bound to act in clients' best interests.

Opening an Account With J.P. Morgan Securities

The easiest way to connect with a J.P. Morgan advisor is to call (800) 999-2000 or fill out the company’s online contact form. The form asks for general personal information, plus an estimate of your investable assets. There is also space where you can write a note about what you are looking for in a financial advisor.

All information is accurate as of the writing of this article.

Financial Planning Tips

  • Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can have free introductory calls with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
  • Another way to make sure you’re on track to meet your retirement goals is to figure out how much you’ll need to save for retirement. You can then compare your current retirement savings against this estimate to see how close you are to being retirement ready.

How Long $1mm Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research