J.P. Morgan Wealth Management Review 2022

J.P. Morgan Wealth Management offers several options for all types of investors. See how it stacks up against other investing platforms.
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By Shannon Lee

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There are many decisions you could make with your money.

Should you invest it, and if so, in what?

Should you go with a traditional savings vehicle or get aggressive with your retirement planning?

Do you want to handle it yourself, or be completely hands-off and allow a professional to make financial decisions on your behalf?

With J.P. Morgan Wealth Management, you’ve got options.

What Is J.P. Morgan Wealth Management?

J.P. Morgan Wealth Management is an arm of J.P. Morgan Chase & Co. It offers investing, wealth and estate planning, flexible banking solutions, and lending.

The company looks to thought leaders and market trends to better advise their clients on everything from which mutual funds might bring in the best returns to the more advantageous terms for lending for businesses and individuals.

One of the biggest draws of this company is the full spectrum of service, where individuals can choose to be entirely hands-off or can opt to control their money themselves, every day.

Who Is a J.P. Morgan Wealth Management Account For?

J.P. Morgan offers many wealth management paths, from self-directed investing for those who want a hand on their money at all times, to robo-investing for those who want to plug in their goals and let the bank do the rest.

J.P. Morgan Wealth Management is good for:

  • Investors who like one-on-one investing advice
  • People who like investing on their own
  • Investors who use technology to manage investments
  • People looking for full-service investment services
  • Beginner through expert investors

Compare J.P. Morgan Wealth Management Account to Others

When it comes to top-tier investment management, there are three names that dominate the industry: J.P. Morgan, Morgan Stanley, and Goldman Sachs. J.P. Morgan shares a similar name with Morgan Stanley because the founders are from the same family, but the companies are not the same.

Goldman Sachs is a strong player in the U.S. treasury securities, but has also moved into the online investing market in the hopes of attracting more individuals; therefore, the offerings are close to what you would find with J.P. Morgan.

However, J.P. Morgan has a big head-start on investing for individuals, as well as a larger net revenue, which might make them a better candidate for keeping your assets safe.

Morgan Stanley tends to work with businesses, large corporations, organizations, and those of very high net-worth. J.P. Morgan, on the other hand, works with those as well as individuals who have a lower net worth and can get away with a much simpler financial or investing solution.

 

What Type of Accounts Does J.P. Morgan Wealth Management Offer?

J.P. Morgan Wealth Management offers a wide variety of accounts and services to investors or those simply seeking to take stronger control of their financial life. Here are a few of the more common accounts offered by the company:

Self-directed investing

This includes the opportunities to invest in Roth IRAs, traditional IRAs, and general investment strategies. This online stock trading opportunity puts you in the driver’s seat with zero commissions, thousand of investment options (including popular mutual funds and ETFs), tools to help you build the right portfolio, and a robust online experience through the website or the app.

Automated investing

This is a robo-investor option that includes the conservative, moderate, growth, and aggressive tracks. Portfolios are built by investment professionals, and you choose the one that best suits your needs. That portfolio responds to a changing market and keeps your goals at the forefront. The managed portfolio has a small 0.35% advisory fee.

One-on-one

Connect with a real person via online video chat, in person at a J.P. Morgan office or Chase branch, or by phone to discuss what you need to make your goals a reality. This financial checkup can help you find a more tailored solution for your particular financial situation. This option includes regular meetings to update your goals and strategies, updates on the state of the markets, and access to professionals in other areas, such as estate planning.

There are other options as well, such as:

  • Estate and wealth planning that takes future generations into account
  • Liquidity events that plan around tax and investment goals
  • Choosing a path for strategic philanthropy
  • Executive services that focus on compensation, retirement plans, and more
  • Long-term and short-term lending
  • Real estate lending
  • Business investments and credit solutions

Top Features of J.P. Morgan Wealth Management Account

You choose what makes you comfortable

By offering everything from self-guided investment options to using the full services of a J.P. Morgan representative, your level of comfort in handling investments matters. You can change your option at any time if you reach a point in your life where something else makes more sense.

Works mostly for individual investors

As of this writing, over three-quarters of the clients under J.P. Morgan Wealth Management are individuals, with the rest made up of businesses and organizations. This means that the professionals you work with at the institution are well-versed in the needs of those who don’t have massive corporations to include in their portfolio.

Offers a wide range of services

Many companies focus on one or two things, like annuities, and they do it very well. J.P. Morgan’s long history and reach mean it can offer many more services, from estate planning to real estate loans to helping you choose your charitable contributions.

Easy to sign up

A simple online form gets you started, or if you want a more personal touch, a phone call can be the springboard to whatever account is right for you.

Clarity in fees

Most of the accounts offered by J.P. Morgan Wealth Management are considered wrap accounts, where one fee covers trading costs, commissions, and more, with no guesswork on how much it will cost to move your money around.

How to Get Started

Getting started with the company requires filling out a brief form on the website, which will include an estimate of your income and assets, or giving them a call at 1-800-999-2000. That call will put you in touch with a financial professional who can walk you through the steps of getting started.

Keep in mind that you might need to meet a certain threshold of assets to be eligible for some of the services, so be ready with your proof of total assets when you call.

Rating the Features

Does J.P. Morgan Wealth Management offer what you really need to help your money grow to its full potential? Here is what we’ve learned about the variety of features offered by J.P. Morgan.

User experience

Getting in touch with someone at J.P. Morgan Wealth Management is straightforward. Email is an option, but if you want to speak to someone directly and immediately (during normal business hours) you can make a phone call and get a financial professional on the line.

Signing up for the services through J.P. Morgan requires basic information, such as current contact information, a social security number, and other requirements depending upon the product.

Fees and rates

The fees are in line with most other companies who provide similar services. Many of the accounts are “wrap accounts” that include many small fees in one charge, so you don’t have to sort through a long list of itemized fees.

In addition, each account might have other fees that you should know about going in, such as fees for electronic funding and wire fees, fees for foreign stock trades, and more.

Transparency

It’s easy to sign up, though some of the requirements might seem confusing. However, a phone call can clear up any confusion, which can make it easier to move forward quickly with asset management.

The minimums for investing in a variety of vehicles are spelled out clearly on the website. As to the company itself, SEC disclosures are on full display on the website.

Flexibility

J.P. Morgan Wealth Management understands that wealth and assets change over time, so moving money from one investment to another is made as simple as possible.

If your needs change from simple robo-investing to needing a more hands-on approach, that change can be made quickly. The robust support offered by the company’s professionals can help you choose what’s right for you.

Customer support

Many of the products designed by J.P. Morgan Wealth Management are meant to be user-friendly. The website is easy to navigate and contains a wealth of information.

Getting in touch with a real person during normal business hours is quite easy through phone or email (and email can be used after hours; you’ll get a response the next business day). The mobile app is highly optimized for use on the go.

Pros and Cons of J.P. Morgan Wealth Management Account

Frequently Asked Questions

How much personal attention can I expect from my financial advisor at J.P. Morgan Wealth Management?

Currently, the ratio of clients to advisors is 114 to one. However, keep in mind that many of those 114 accounts are rather hands-off, such as those invested in a conservative mutual fund.

What is my required minimum investment?

For some online accounts, you might be able to start with as little as $500. But for those who want to move into more serious money-making possibilities, the threshold is $10,000 or more.

What is the cost to talk to a financial advisor at J.P. Morgan Wealth Management?

There is no fee to talk with someone and create an outline of what you hope to do with your money. Fees begin when you actually start working with the advisor and transferring money to various accounts.

The Bottom Line

J.P. Morgan Wealth Management offers a variety of options for those who aren’t yet sure how involved they want to be in the day-to-day management of their assets.

From hands-off to fully hands-on, the company offers numerous avenues to control your wealth.

There is a good variety of products, as well as additional services for those already with an established relationship with the company.

The strong customer service makes it easy to choose which service might be right for you.

About Author
Shannon Lee is a freelance writer and occasional novelist who has spent over twenty years writing about personal finance, home improvement, education, relationships, and medical and health topics.