experience with JP Morgan Self-Directed Investing?

Have a question about your personal investments? No matter how simple or complex, you can ask it here.
Olly
Posts: 7
Joined: Wed Apr 21, 2021 2:23 pm

Re: experience with JP Morgan Self-Directed Investing?

Post by Olly »

JPMorgan Self Directed used to be called Chase YouInvest and you can buy VMFXX and similar funds in this account.

There is also (confusingly) a JPMorgan Self Directed "full service" brokerage account that can only be opened in branch with an advisor. This account doesn't allow the purchase of VMFXX but otherwise is very similar. The only reason you'd want it is so the balance counts for the CPC opening bonus really.

I opened a full service JPM Self Directed account in branch a couple of years ago to take advantage of the CPC bonus but I had an old YouInvest account too from a previous bonus - I just buy VMFXX and Treasuries in that and keep stocks in the "full service" account.

I don't know why they renamed YouInvest, it's just made things very confusing!
eldplanko
Posts: 12
Joined: Fri Nov 20, 2020 7:15 pm

Re: experience with JP Morgan Self-Directed Investing?

Post by eldplanko »

Didn’t want to start a new thread, as this seems relevant…

Has anyone recently tried buying treasuries at auction through JPM Self-Directed Brokerage…. I tried today, and was told they won’t allow anymore, only treasuries on the secondary. I tried explaining the fee schedule still shows available, and was told “they’re in the process of updating that.”
Dead Man Walking
Posts: 1212
Joined: Wed Nov 07, 2007 5:51 pm

Re: experience with JP Morgan Self-Directed Investing?

Post by Dead Man Walking »

JP Morgan Self-directed accounts are convenient for people who have Chase bank accounts. Transferring money from Chase bank accounts to the brokerage account is fast and seamless. Since I opened my account, there have been a few changes in addition to the name change: You can no longer buy treasuries at auction and, according to another thread, VUSXX. Some Vanguard Admiral funds aren’t available. The account is great for buying ETFs and available mutual funds. The website is functional for buying and selling them. You can find funds using Morningstar’s star rankings, expense ratios, and fund families. By limiting a fund search to a fund family, you are given a list of funds available from that family. I find the website to be straightforward and easy to use.

I have found the customer service representatives to be knowledgeable and helpful. I recently transitioned my transfer on death account to a joint account with rights of survivorship. I downloaded and printed the appropriate forms, filled them out, and took them to the Chase branch to have our signatures notarized. My personal banker faxed them to JP Morgan. For some reason, the fax didn’t go through. I called JP Morgan to see why my new account hadn’t been established. The customer service representative looked for the fax, but couldn’t find it. She asked if I still had the forms. Since I did, she walked me through sending a secure message and informed me that if I used secure messaging in the future, I didn’t need to have forms notarized. If I had read the entire page on transitioning accounts, I would have discovered that I could have done it through secure messaging. The representative to whom I spoke when I tried to buy more Treasuries at auction was very courteous when he told me that I could no longer buy them at auction with a self-directed account and offered to explain how I could buy Treasuries on the secondary market using my account.

I didn’t choose Chase for my bank; Chase bought my bank and transferred my accounts to Chase. Since I have a large safe deposit box at the bank and have met their requirements for avoiding fees, I have maintained my bank accounts with them. I don’t use them for CDs or money market accounts. Their website is very good for bill paying, transferring money between accounts, and transferring money to Vanguard. The brokerage account is an excellent way to have a balance large enough to avoid fees and take advantage of other perks.

DMW
funxional
Posts: 290
Joined: Thu Oct 27, 2022 4:29 pm

Re: experience with JP Morgan Self-Directed Investing?

Post by funxional »

cowdogman wrote: Wed Jul 20, 2022 2:16 pm Fidelity has an authenticator option, which I quite like.
I know this is old, but where is this option? All I can see is a phone based MFA or Symantec and posts all reference the same options with nothing for an authenticator app.

Edit - I see that it is the symantec authenticator app (I was thinking a token like some banks use) and it is possible to use a generic authenticator app with a bit of extra effort.
User avatar
anon_investor
Posts: 15122
Joined: Mon Jun 03, 2019 1:43 pm

Re: experience with JP Morgan Self-Directed Investing?

Post by anon_investor »

funxional wrote: Wed Feb 22, 2023 6:13 pm
cowdogman wrote: Wed Jul 20, 2022 2:16 pm Fidelity has an authenticator option, which I quite like.
I know this is old, but where is this option? All I can see is a phone based MFA or Symantec and posts all reference the same options with nothing for an authenticator app.

Edit - I see that it is the symantec authenticator app (I was thinking a token like some banks use) and it is possible to use a generic authenticator app with a bit of extra effort.
Symantec is an authenticator app.
manlymatt83
Posts: 1287
Joined: Tue Jan 30, 2018 7:23 am

Re: experience with JP Morgan Self-Directed Investing?

Post by manlymatt83 »

Dead Man Walking wrote: Wed Feb 22, 2023 3:49 pm JP Morgan Self-directed accounts are convenient for people who have Chase bank accounts. Transferring money from Chase bank accounts to the brokerage account is fast and seamless. Since I opened my account, there have been a few changes in addition to the name change: You can no longer buy treasuries at auction and, according to another thread, VUSXX. Some Vanguard Admiral funds aren’t available. The account is great for buying ETFs and available mutual funds. The website is functional for buying and selling them. You can find funds using Morningstar’s star rankings, expense ratios, and fund families. By limiting a fund search to a fund family, you are given a list of funds available from that family. I find the website to be straightforward and easy to use.

I have found the customer service representatives to be knowledgeable and helpful. I recently transitioned my transfer on death account to a joint account with rights of survivorship. I downloaded and printed the appropriate forms, filled them out, and took them to the Chase branch to have our signatures notarized. My personal banker faxed them to JP Morgan. For some reason, the fax didn’t go through. I called JP Morgan to see why my new account hadn’t been established. The customer service representative looked for the fax, but couldn’t find it. She asked if I still had the forms. Since I did, she walked me through sending a secure message and informed me that if I used secure messaging in the future, I didn’t need to have forms notarized. If I had read the entire page on transitioning accounts, I would have discovered that I could have done it through secure messaging. The representative to whom I spoke when I tried to buy more Treasuries at auction was very courteous when he told me that I could no longer buy them at auction with a self-directed account and offered to explain how I could buy Treasuries on the secondary market using my account.

I didn’t choose Chase for my bank; Chase bought my bank and transferred my accounts to Chase. Since I have a large safe deposit box at the bank and have met their requirements for avoiding fees, I have maintained my bank accounts with them. I don’t use them for CDs or money market accounts. Their website is very good for bill paying, transferring money between accounts, and transferring money to Vanguard. The brokerage account is an excellent way to have a balance large enough to avoid fees and take advantage of other perks.

DMW
Wait, is VUSXX really no longer available? Can you confirm that if possible?
webtrojan
Posts: 36
Joined: Wed May 25, 2022 1:12 pm

Re: experience with JP Morgan Self-Directed Investing?

Post by webtrojan »

manlymatt83 wrote: Thu Feb 23, 2023 4:26 pm
Dead Man Walking wrote: Wed Feb 22, 2023 3:49 pm JP Morgan Self-directed accounts are convenient for people who have Chase bank accounts. Transferring money from Chase bank accounts to the brokerage account is fast and seamless. Since I opened my account, there have been a few changes in addition to the name change: You can no longer buy treasuries at auction and, according to another thread, VUSXX. Some Vanguard Admiral funds aren’t available. The account is great for buying ETFs and available mutual funds. The website is functional for buying and selling them. You can find funds using Morningstar’s star rankings, expense ratios, and fund families. By limiting a fund search to a fund family, you are given a list of funds available from that family. I find the website to be straightforward and easy to use.

I have found the customer service representatives to be knowledgeable and helpful. I recently transitioned my transfer on death account to a joint account with rights of survivorship. I downloaded and printed the appropriate forms, filled them out, and took them to the Chase branch to have our signatures notarized. My personal banker faxed them to JP Morgan. For some reason, the fax didn’t go through. I called JP Morgan to see why my new account hadn’t been established. The customer service representative looked for the fax, but couldn’t find it. She asked if I still had the forms. Since I did, she walked me through sending a secure message and informed me that if I used secure messaging in the future, I didn’t need to have forms notarized. If I had read the entire page on transitioning accounts, I would have discovered that I could have done it through secure messaging. The representative to whom I spoke when I tried to buy more Treasuries at auction was very courteous when he told me that I could no longer buy them at auction with a self-directed account and offered to explain how I could buy Treasuries on the secondary market using my account.

I didn’t choose Chase for my bank; Chase bought my bank and transferred my accounts to Chase. Since I have a large safe deposit box at the bank and have met their requirements for avoiding fees, I have maintained my bank accounts with them. I don’t use them for CDs or money market accounts. Their website is very good for bill paying, transferring money between accounts, and transferring money to Vanguard. The brokerage account is an excellent way to have a balance large enough to avoid fees and take advantage of other perks.

DMW
Wait, is VUSXX really no longer available? Can you confirm that if possible?
I hold both VUSXX and VMFXX in my self-directed account. My last addition to VMFXX was 2/15/23. I just looked at the trade screens and I'm still able to purchase both.
User avatar
anon_investor
Posts: 15122
Joined: Mon Jun 03, 2019 1:43 pm

Re: experience with JP Morgan Self-Directed Investing?

Post by anon_investor »

webtrojan wrote: Thu Feb 23, 2023 6:20 pm
manlymatt83 wrote: Thu Feb 23, 2023 4:26 pm
Dead Man Walking wrote: Wed Feb 22, 2023 3:49 pm JP Morgan Self-directed accounts are convenient for people who have Chase bank accounts. Transferring money from Chase bank accounts to the brokerage account is fast and seamless. Since I opened my account, there have been a few changes in addition to the name change: You can no longer buy treasuries at auction and, according to another thread, VUSXX. Some Vanguard Admiral funds aren’t available. The account is great for buying ETFs and available mutual funds. The website is functional for buying and selling them. You can find funds using Morningstar’s star rankings, expense ratios, and fund families. By limiting a fund search to a fund family, you are given a list of funds available from that family. I find the website to be straightforward and easy to use.

I have found the customer service representatives to be knowledgeable and helpful. I recently transitioned my transfer on death account to a joint account with rights of survivorship. I downloaded and printed the appropriate forms, filled them out, and took them to the Chase branch to have our signatures notarized. My personal banker faxed them to JP Morgan. For some reason, the fax didn’t go through. I called JP Morgan to see why my new account hadn’t been established. The customer service representative looked for the fax, but couldn’t find it. She asked if I still had the forms. Since I did, she walked me through sending a secure message and informed me that if I used secure messaging in the future, I didn’t need to have forms notarized. If I had read the entire page on transitioning accounts, I would have discovered that I could have done it through secure messaging. The representative to whom I spoke when I tried to buy more Treasuries at auction was very courteous when he told me that I could no longer buy them at auction with a self-directed account and offered to explain how I could buy Treasuries on the secondary market using my account.

I didn’t choose Chase for my bank; Chase bought my bank and transferred my accounts to Chase. Since I have a large safe deposit box at the bank and have met their requirements for avoiding fees, I have maintained my bank accounts with them. I don’t use them for CDs or money market accounts. Their website is very good for bill paying, transferring money between accounts, and transferring money to Vanguard. The brokerage account is an excellent way to have a balance large enough to avoid fees and take advantage of other perks.

DMW
Wait, is VUSXX really no longer available? Can you confirm that if possible?
I hold both VUSXX and VMFXX in my self-directed account. My last addition to VMFXX was 2/15/23. I just looked at the trade screens and I'm still able to purchase both.
I think if you have the self-directed account linked to an advisor then you can't buy Vanguard funds.
skibummer
Posts: 59
Joined: Wed Aug 07, 2019 5:44 pm

Re: experience with JP Morgan Self-Directed Investing?

Post by skibummer »

pre wrote: Fri Feb 03, 2023 8:24 pm
manlymatt83 wrote: Sun Aug 07, 2022 5:33 pm
anon_investor wrote: Sun Aug 07, 2022 5:30 pm
Django Ii wrote: Thu Jul 21, 2022 6:46 am Chase's brokerage sweep fund is still paying a negligible amount.
Is there a decent NTF money market mutual fund option at Chase?
VMFXX seems available for a $3000 minimum investment.
Can any folks with JPMS brokerage accounts recommend a money market mutual fund that I can use for short term holdings? I'm signing up for the Chase Private Client bonus offer next month and looking to invest $100-200k of cash for a few months. I'm leaning towards just a money market mutual fund, but for some reason, JPMS doesn't seem to like any of the funds I've tried.

These are all no load, fee-free, but all rejected:

-Vanguard Federal Money Market Fund (ticker: VMFXX)
-Vanguard Treasury Money Market Fund (VUSXX)
-Fidelity Money Market Fund (SPRXX)
-T. Rowe Price U.S. Treasury Money Fund (PRTXX)
-JPMorgan Prime Money Market Fund (VMVXX)[/list]

The error codes are some combination of:

-Fund is not approved. Questions please contact your advisor or service (335259)
-Fund not available for purchase. Please see product lists & disclosure (338091)
-Fund Closed to New Investors (224726)
-Institutional Money Markets are not available for purchase (230094)

I called the brokerage support line for a list of supported MFs, but they said I should talk to my assigned advisor. I'd rather find something easy on my own, as I would be liquidating in a few months after earning the bonus. As such, my advisor would not be earning anything off me, so I feel guilty about using up her time.
It sounds like the issue is that you have a full service brokerage account vs the self-directed version. The full service account doesn’t mean that you have to pay advisor fees with it. It just means that it was opened with an advisor name listed on the account vs the self-directed account is serviced by the online team only. I have both (and I don’t pay an advisor to manage the full-service brokerage). 2 important points are that if you want to buy Tbills at auction (not secondary) you can only do that through the full-service account. You call the service number and ask for the complex trading desk and give them the CUSIP number to buy a treasury at auction (you can’t do this with the self-directed account), BUT the self-directed account is the only account where you can buy Vanguard mutual funds like the money market treasury fund VUSXX. You can’t buy this in the full-service brokerage account. So if you want to buy Tbills (full service brokerage only) and own Vanguard mutual funds like the money markets (self-directed brokerage only) you need both types of JPM accounts. Weird you have to do it that way, but seems like there are limitations with each version and this is how you can get the best of both worlds. Easy with both account as I see them both listed on my Private Client page when I log in (the brokerage balances are used to meet the minimums for Private Client and Sapphire levels). Easy to instant transfer money from the full-service brokerage to the self-directed or vice versa.
inverter
Posts: 1021
Joined: Mon Jul 27, 2015 1:40 pm
Location: New York, NY

Re: experience with JP Morgan Self-Directed Investing?

Post by inverter »

Ask your advisor about J.P. Morgan Premium Deposit - https://www.jpmorgan.com/wealth-managem ... um-deposit.
User avatar
cowdogman
Posts: 2072
Joined: Sat Dec 16, 2017 6:44 pm
Location: Washington State

Re: experience with JP Morgan Self-Directed Investing?

Post by cowdogman »

funxional wrote: Wed Feb 22, 2023 6:13 pm
cowdogman wrote: Wed Jul 20, 2022 2:16 pm Fidelity has an authenticator option, which I quite like.
I know this is old, but where is this option? All I can see is a phone based MFA or Symantec and posts all reference the same options with nothing for an authenticator app.

Edit - I see that it is the symantec authenticator app (I was thinking a token like some banks use) and it is possible to use a generic authenticator app with a bit of extra effort.
You need to call Fidelity to set it up. First download the Symantec VIP Access app to your phone, then call.
Dead Man Walking
Posts: 1212
Joined: Wed Nov 07, 2007 5:51 pm

Re: experience with JP Morgan Self-Directed Investing?

Post by Dead Man Walking »

manlymatt83 wrote: Thu Feb 23, 2023 4:26 pm
Dead Man Walking wrote: Wed Feb 22, 2023 3:49 pm JP Morgan Self-directed accounts are convenient for people who have Chase bank accounts. Transferring money from Chase bank accounts to the brokerage account is fast and seamless. Since I opened my account, there have been a few changes in addition to the name change: You can no longer buy treasuries at auction and, according to another thread, VUSXX. Some Vanguard Admiral funds aren’t available. The account is great for buying ETFs and available mutual funds. The website is functional for buying and selling them. You can find funds using Morningstar’s star rankings, expense ratios, and fund families. By limiting a fund search to a fund family, you are given a list of funds available from that family. I find the website to be straightforward and easy to use.

I have found the customer service representatives to be knowledgeable and helpful. I recently transitioned my transfer on death account to a joint account with rights of survivorship. I downloaded and printed the appropriate forms, filled them out, and took them to the Chase branch to have our signatures notarized. My personal banker faxed them to JP Morgan. For some reason, the fax didn’t go through. I called JP Morgan to see why my new account hadn’t been established. The customer service representative looked for the fax, but couldn’t find it. She asked if I still had the forms. Since I did, she walked me through sending a secure message and informed me that if I used secure messaging in the future, I didn’t need to have forms notarized. If I had read the entire page on transitioning accounts, I would have discovered that I could have done it through secure messaging. The representative to whom I spoke when I tried to buy more Treasuries at auction was very courteous when he told me that I could no longer buy them at auction with a self-directed account and offered to explain how I could buy Treasuries on the secondary market using my account.

I didn’t choose Chase for my bank; Chase bought my bank and transferred my accounts to Chase. Since I have a large safe deposit box at the bank and have met their requirements for avoiding fees, I have maintained my bank accounts with them. I don’t use them for CDs or money market accounts. Their website is very good for bill paying, transferring money between accounts, and transferring money to Vanguard. The brokerage account is an excellent way to have a balance large enough to avoid fees and take advantage of other perks.

DMW
Wait, is VUSXX really no longer available? Can you confirm that if possible?
I haven’t tried to purchase VUSXX recently. I’m basing my statement on the experience of another poster in a different thread.
User avatar
pre
Posts: 183
Joined: Mon Apr 04, 2011 2:14 am

Re: experience with JP Morgan Self-Directed Investing?

Post by pre »

skibummer wrote: Thu Feb 23, 2023 8:46 pm
pre wrote: Fri Feb 03, 2023 8:24 pm
manlymatt83 wrote: Sun Aug 07, 2022 5:33 pm
anon_investor wrote: Sun Aug 07, 2022 5:30 pm
Django Ii wrote: Thu Jul 21, 2022 6:46 am Chase's brokerage sweep fund is still paying a negligible amount.
Is there a decent NTF money market mutual fund option at Chase?
VMFXX seems available for a $3000 minimum investment.
Can any folks with JPMS brokerage accounts recommend a money market mutual fund that I can use for short term holdings? I'm signing up for the Chase Private Client bonus offer next month and looking to invest $100-200k of cash for a few months. I'm leaning towards just a money market mutual fund, but for some reason, JPMS doesn't seem to like any of the funds I've tried.

These are all no load, fee-free, but all rejected:

-Vanguard Federal Money Market Fund (ticker: VMFXX)
-Vanguard Treasury Money Market Fund (VUSXX)
-Fidelity Money Market Fund (SPRXX)
-T. Rowe Price U.S. Treasury Money Fund (PRTXX)
-JPMorgan Prime Money Market Fund (VMVXX)[/list]

The error codes are some combination of:

-Fund is not approved. Questions please contact your advisor or service (335259)
-Fund not available for purchase. Please see product lists & disclosure (338091)
-Fund Closed to New Investors (224726)
-Institutional Money Markets are not available for purchase (230094)

I called the brokerage support line for a list of supported MFs, but they said I should talk to my assigned advisor. I'd rather find something easy on my own, as I would be liquidating in a few months after earning the bonus. As such, my advisor would not be earning anything off me, so I feel guilty about using up her time.
It sounds like the issue is that you have a full service brokerage account vs the self-directed version. The full service account doesn’t mean that you have to pay advisor fees with it. It just means that it was opened with an advisor name listed on the account vs the self-directed account is serviced by the online team only. I have both (and I don’t pay an advisor to manage the full-service brokerage). 2 important points are that if you want to buy Tbills at auction (not secondary) you can only do that through the full-service account. You call the service number and ask for the complex trading desk and give them the CUSIP number to buy a treasury at auction (you can’t do this with the self-directed account), BUT the self-directed account is the only account where you can buy Vanguard mutual funds like the money market treasury fund VUSXX. You can’t buy this in the full-service brokerage account. So if you want to buy Tbills (full service brokerage only) and own Vanguard mutual funds like the money markets (self-directed brokerage only) you need both types of JPM accounts. Weird you have to do it that way, but seems like there are limitations with each version and this is how you can get the best of both worlds. Easy with both account as I see them both listed on my Private Client page when I log in (the brokerage balances are used to meet the minimums for Private Client and Sapphire levels). Easy to instant transfer money from the full-service brokerage to the self-directed or vice versa.
Thanks for confirming this. I also have both a full-service and a self-directed (You Invest), but only the full service balance counts towards the CPC bonus, prompting me to search for a MM MF or alike. Thanks for sharing the Treasury bill advice.

I posted the same inquiry at Reddit and someone helpfully shared a JP Morgan MM MF that seems to work in the full-service account -- JPMorgan U.S. Treasury Plus Money Market Fund (MJTXX). The yield is quite as high as the likes of VSUXX, with higher expense ratio, but for a few months, it should do
mrspremise
Posts: 150
Joined: Wed May 23, 2012 3:01 pm

Re: experience with JP Morgan Self-Directed Investing?

Post by mrspremise »

So sort of related question- I am currently looking to move out of Vanguard (I have about 5 types of ETF) and also got the CPC bonus offer. I was debating Fidelity and Schwab, but Chase is already my bank so it's not a hard sell for me to think about moving there instead (at least for a little while to see how I like it). I would need to do a full brokerage account for the bonus, but I'd like to move to self directed from there because I really don't want to have to talk to a person whenever I rebalance. I saw on the website there's a $75 "brokerage account transfer and termination" fee. Would that apply if you moved them from a full service to a self direct brokerage?
Fotodog
Posts: 28
Joined: Thu Nov 04, 2021 8:59 pm

Re: experience with JP Morgan Self-Directed Investing?

Post by Fotodog »

I use JPMorgan/Chase for my B&M bank, and I’m considering opening a self directed brokerage account. Can someone let me know if they have a good platform for buying individual corporate bonds and CD’s?
DONZI
Posts: 28
Joined: Thu Sep 02, 2021 7:38 pm

Re: experience with JP Morgan Self-Directed Investing?

Post by DONZI »

manlymatt83 wrote: Thu Feb 23, 2023 5:26 pm

Wait, is VUSXX really no longer available? Can you confirm that if possible?
Regarding VUSXX, I was able to place a buy order today.

I tried to place an order for GABXX and was informed that I could not place the order with my account.

My self directed account with JP Morgan is 11 months old and the only relationship I have with Chase JP Morgan.
Last edited by DONZI on Mon Mar 20, 2023 11:18 am, edited 1 time in total.
calwatch
Posts: 1447
Joined: Wed Oct 02, 2013 1:48 am

Re: experience with JP Morgan Self-Directed Investing?

Post by calwatch »

Fotodog wrote: Thu Mar 09, 2023 9:51 am I use JPMorgan/Chase for my B&M bank, and I’m considering opening a self directed brokerage account. Can someone let me know if they have a good platform for buying individual corporate bonds and CD’s?
Under the "trade" menu, in "fixed income", you can search CD's, corporate, munis, and treasuries.It seems easy to use although it doesn't seem as robust as Schwab or Fidelity.
User avatar
JoMoney
Posts: 16260
Joined: Tue Jul 23, 2013 5:31 am

Re: experience with JP Morgan Self-Directed Investing?

Post by JoMoney »

When I was looking into a JP Morgan account (for a transfer bonus) what I read implied they don't offer easy online Roth conversions for securities. They only offer transfers of cash between accounts, and they only offer online brokerage transfers between like accounts (Roth to Roth, Traditional IRA to Traditional IRA, or taxable brokerage to taxable brokerage.) One can do a Roth conversion, but it requires a paper form, and a liquidation of the securities to cash. :annoyed
That coupled with JP Morgan not offering additional 'above SIPC' coverage through a third-party insurer (as many other large brokerages do), and not have any stated 'Customer Protection Guarantee' that I could find, gave me a better feeling about just sticking with Fidelity, Vanguard, Schwab, E-Trade, or other brokers that are bigger in the individual client space.
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
PghPharmBoy
Posts: 98
Joined: Wed Sep 05, 2018 2:01 pm

Re: experience with JP Morgan Self-Directed Investing?

Post by PghPharmBoy »

JoMoney wrote: Tue Mar 21, 2023 12:06 am When I was looking into a JP Morgan account (for a transfer bonus) what I read implied they don't offer easy online Roth conversions for securities. They only offer transfers of cash between accounts, and they only offer online brokerage transfers between like accounts (Roth to Roth, Traditional IRA to Traditional IRA, or taxable brokerage to taxable brokerage.) One can do a Roth conversion, but it requires a paper form, and a liquidation of the securities to cash. :annoyed
I just did my first back door Roth at JPM. It does indeed require a paper form. However, the form allows you to list which (or all) assets you want to transfer. I will review it again, but I don’t recall it saying that holdings had to be sold first. You can upload it securely and mine took overnight to process. It was not as easy as Fidelity’s online process but it wasn’t hard. I was only moving cash, so that may have impacted the speed with which the conversion was completed, but all told it was not at all inconvenient.

I can’t speak to the greater than SIPC protection. That’s not an issue for my account size :mrgreen:
PghPharmBoy
Posts: 98
Joined: Wed Sep 05, 2018 2:01 pm

Re: experience with JP Morgan Self-Directed Investing?

Post by PghPharmBoy »

JoMoney wrote: Tue Mar 21, 2023 12:06 am ... and a liquidation of the securities to cash.
I just pulled up the tIRA to Roth form again. It only requires a liquidation if you're converting an Automated Investing (RoboAdvisor) account. There is space on the second page of the form to list securities that you'd like to convert to Roth. It also says they will convert fractional shares if all of that security is converted. If you convert a portion of that security, they will not do the fractional shares.
J.P. Morgan Roth IRA Conversion Request Form wrote:
  • If you're converting to a J.P. Morgan Automated Investing account, you can only convert cash. Any securities you wish to convert should be liquidated before submitting this form.
  • If you are converting securities, their value is determined at the close of business on the processing date.
  • For securities, only whole shares may be converted unless you note that you want "All" shares converted, which would include fractional shares
techbud
Posts: 137
Joined: Thu Dec 22, 2022 6:52 am

Re: experience with JP Morgan Self-Directed Investing?

Post by techbud »

calwatch wrote: Mon Mar 20, 2023 10:25 pm
Fotodog wrote: Thu Mar 09, 2023 9:51 am I use JPMorgan/Chase for my B&M bank, and I’m considering opening a self directed brokerage account. Can someone let me know if they have a good platform for buying individual corporate bonds and CD’s?
Under the "trade" menu, in "fixed income", you can search CD's, corporate, munis, and treasuries.It seems easy to use although it doesn't seem as robust as Schwab or Fidelity.
No ladder tool though, as far as I can tell
zero_coupon
Posts: 578
Joined: Sun Jun 05, 2022 5:26 am

Re: experience with JP Morgan Self-Directed Investing?

Post by zero_coupon »

Dead Man Walking wrote: Wed Feb 22, 2023 3:49 pm ... Some Vanguard Admiral funds aren’t available. ...
Which ones? How about Vanguard's active muni funds and muni MM fund?
JoMoney wrote: Tue Mar 21, 2023 12:06 am ... JP Morgan [does] not [offer] additional 'above SIPC' coverage through a third-party insurer (as many other large brokerages do), [nor] any stated 'Customer Protection Guarantee' that I could find...
If this is still the policy, that does indeed appear to be a shortcoming. Is this still the case?
User avatar
JoMoney
Posts: 16260
Joined: Tue Jul 23, 2013 5:31 am

Re: experience with JP Morgan Self-Directed Investing?

Post by JoMoney »

zero_coupon wrote: Fri May 12, 2023 5:11 pm ...
JoMoney wrote: Tue Mar 21, 2023 12:06 am ... JP Morgan [does] not [offer] additional 'above SIPC' coverage through a third-party insurer (as many other large brokerages do), [nor] any stated 'Customer Protection Guarantee' that I could find...
If this is still the policy, that does indeed appear to be a shortcoming. Is this still the case?
As far as I can tell it is, it's not something that can be easily found on their website (like most other large brokerages) if they do, and when searching the broader Internet all I can find is news articles from years back mentioning they were dropping the "above SIPC coverage" through third party insurer.
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
zero_coupon
Posts: 578
Joined: Sun Jun 05, 2022 5:26 am

Re: experience with JP Morgan Self-Directed Investing?

Post by zero_coupon »

JoMoney wrote: Fri May 12, 2023 9:18 pm ...when searching the broader Internet all I can find is news articles from years back mentioning they were dropping the "above SIPC coverage" through third party insurer.
Yikes...doesn't sound good. Thaks for looking into this.
Dead Man Walking
Posts: 1212
Joined: Wed Nov 07, 2007 5:51 pm

Re: experience with JP Morgan Self-Directed Investing?

Post by Dead Man Walking »

zero_coupon wrote: Fri May 12, 2023 5:11 pm
Dead Man Walking wrote: Wed Feb 22, 2023 3:49 pm ... Some Vanguard Admiral funds aren’t available. ...
Which ones? How about Vanguard's active muni funds and muni MM fund?

Wellington Admiral (VWENX) isn’t available. As I recall, the Admiral funds that require a $50,000 minimum investment are the ones that aren’t available. The Investor class of those funds are generally available. The Admiral funds with a $3,000 minimum investment are available. I don’t know about muni funds. I’ll look the next time I log on to my account.

DMW
zero_coupon
Posts: 578
Joined: Sun Jun 05, 2022 5:26 am

Re: experience with JP Morgan Self-Directed Investing?

Post by zero_coupon »

Dead Man Walking wrote: Sat May 13, 2023 12:43 pm Wellington Admiral (VWENX) isn’t available. As I recall, the Admiral funds that require a $50,000 minimum investment are the ones that aren’t available. The Investor class of those funds are generally available. The Admiral funds with a $3,000 minimum investment are available. I don’t know about muni funds. I’ll look the next time I log on to my account.

DMW
Thanks.
darrens
Posts: 12
Joined: Sat Jan 14, 2023 8:11 pm

Re: experience with JP Morgan Self-Directed Investing?

Post by darrens »

zero_coupon wrote: Sat May 13, 2023 12:48 pm
Dead Man Walking wrote: Sat May 13, 2023 12:43 pm Wellington Admiral (VWENX) isn’t available. As I recall, the Admiral funds that require a $50,000 minimum investment are the ones that aren’t available. The Investor class of those funds are generally available. The Admiral funds with a $3,000 minimum investment are available. I don’t know about muni funds. I’ll look the next time I log on to my account.

DMW
Thanks.
I just looked up VWENX and it's there. I pressed buy and preview and no problem. That is if we're still talking about Chase self-directed.
smalliebigs
Posts: 450
Joined: Wed Jan 04, 2017 9:48 am

Re: experience with JP Morgan Self-Directed Investing?

Post by smalliebigs »

I have used it for a few years. It is what it is. I have VUSXX, VTI, VTSAX, some Vanguard bonds (forgot what it is), and some individual stocks. We have our rIRA there too. Seamless for us, since all our banking/CC is with Chase.

Only thing I miss from using Vanguard directly is that Vanguard allows you to convert brokerage stocks directly to IRA. With this Chase platform you have to sell from the brokerage then buy again into IRA. As a result we've simply shifted from a lumpsum method to DCA and just go from cash into IRA.
User avatar
JoMoney
Posts: 16260
Joined: Tue Jul 23, 2013 5:31 am

Re: experience with JP Morgan Self-Directed Investing?

Post by JoMoney »

zero_coupon wrote: Sat May 13, 2023 11:46 am
JoMoney wrote: Fri May 12, 2023 9:18 pm ...when searching the broader Internet all I can find is news articles from years back mentioning they were dropping the "above SIPC coverage" through third party insurer.
Yikes...doesn't sound good. Thaks for looking into this.
I imagine it's something they feel they don't need, and can rely on their perceived brand position, strength, and reputation as a custodian and other services... but the consumer brokerage is it's own entity/subsidiary, with different oversight and regulations. I feel better at a brokerage that has a stated customer fraud protection guarantee, and the third-party "above SIPC" coverage that many other brokerages offer.
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
Dead Man Walking
Posts: 1212
Joined: Wed Nov 07, 2007 5:51 pm

Re: experience with JP Morgan Self-Directed Investing?

Post by Dead Man Walking »

zero_coupon wrote: Sat May 13, 2023 12:48 pm
Dead Man Walking wrote: Sat May 13, 2023 12:43 pm Wellington Admiral (VWENX) isn’t available. As I recall, the Admiral funds that require a $50,000 minimum investment are the ones that aren’t available. The Investor class of those funds are generally available. The Admiral funds with a $3,000 minimum investment are available. I don’t know about muni funds. I’ll look the next time I log on to my account.

DMW
Thanks.
I logged into my account today and discovered that JPM has made a few changes since I last logged in. For example, they now offer 54 money market funds. Looks like all of the Fidelity and Vanguard money market funds are available including municipal money market funds. 121 Vanguard mutual funds are available. Their sector index funds for various market sectors (utilities, industrials, technology, etc.) are available at the $100,000 minimum investment. VESGX is available at the $50,000 minimum investment. Vanguard Wellington Admiral (VWENX) is not on the list. Since another poster claimed that it was, I called JP Morgan customer service to find out if it was available and was told that it wasn’t. I explained that someone had informed me that he had entered the ticker to place a buy, and the preview screen didn’t reject the transaction. He told me that it would have been rejected if he had tried to complete the buy. Since I have a Vanguard brokerage account, it’s not an issue for me. I use my JP Morgan Self-directed Account to purchase index mutual funds and ETFs. When buying Treasuries at auction was discontinued for JP Morgan Self-directed Accounts, I moved all of the money I planned to invest in Treasuries to Vanguard. A JP Morgan account is only viable if one uses Chase for services provided by a brick and mortar bank.

DMW
zero_coupon
Posts: 578
Joined: Sun Jun 05, 2022 5:26 am

Re: experience with JP Morgan Self-Directed Investing?

Post by zero_coupon »

Dead Man Walking wrote: Fri May 19, 2023 4:38 pm
zero_coupon wrote: Sat May 13, 2023 12:48 pm
Dead Man Walking wrote: Sat May 13, 2023 12:43 pm Wellington Admiral (VWENX) isn’t available. As I recall, the Admiral funds that require a $50,000 minimum investment are the ones that aren’t available. The Investor class of those funds are generally available. The Admiral funds with a $3,000 minimum investment are available. I don’t know about muni funds. I’ll look the next time I log on to my account.

DMW
Thanks.
I logged into my account today and discovered that JPM has made a few changes since I last logged in. For example, they now offer 54 money market funds. Looks like all of the Fidelity and Vanguard money market funds are available including municipal money market funds. 121 Vanguard mutual funds are available. Their sector index funds for various market sectors (utilities, industrials, technology, etc.) are available at the $100,000 minimum investment. VESGX is available at the $50,000 minimum investment. Vanguard Wellington Admiral (VWENX) is not on the list. Since another poster claimed that it was, I called JP Morgan customer service to find out if it was available and was told that it wasn’t. I explained that someone had informed me that he had entered the ticker to place a buy, and the preview screen didn’t reject the transaction. He told me that it would have been rejected if he had tried to complete the buy. Since I have a Vanguard brokerage account, it’s not an issue for me. I use my JP Morgan Self-directed Account to purchase index mutual funds and ETFs. When buying Treasuries at auction was discontinued for JP Morgan Self-directed Accounts, I moved all of the money I planned to invest in Treasuries to Vanguard. A JP Morgan account is only viable if one uses Chase for services provided by a brick and mortar bank.

DMW
This is useful info -- thank you. Do you happen to remember whether Vanguard's active intermediate muni fund VWIUX is available? No need to log in again; just wondered if you happen to recall.
Joe Public
Posts: 197
Joined: Mon Jul 27, 2020 8:36 pm

Re: experience with JP Morgan Self-Directed Investing?

Post by Joe Public »

zero_coupon wrote: Sat May 20, 2023 4:36 pm
Dead Man Walking wrote: Fri May 19, 2023 4:38 pm
zero_coupon wrote: Sat May 13, 2023 12:48 pm
Dead Man Walking wrote: Sat May 13, 2023 12:43 pm Wellington Admiral (VWENX) isn’t available. As I recall, the Admiral funds that require a $50,000 minimum investment are the ones that aren’t available. The Investor class of those funds are generally available. The Admiral funds with a $3,000 minimum investment are available. I don’t know about muni funds. I’ll look the next time I log on to my account.

DMW
Thanks.
I logged into my account today and discovered that JPM has made a few changes since I last logged in. For example, they now offer 54 money market funds. Looks like all of the Fidelity and Vanguard money market funds are available including municipal money market funds. 121 Vanguard mutual funds are available. Their sector index funds for various market sectors (utilities, industrials, technology, etc.) are available at the $100,000 minimum investment. VESGX is available at the $50,000 minimum investment. Vanguard Wellington Admiral (VWENX) is not on the list. Since another poster claimed that it was, I called JP Morgan customer service to find out if it was available and was told that it wasn’t. I explained that someone had informed me that he had entered the ticker to place a buy, and the preview screen didn’t reject the transaction. He told me that it would have been rejected if he had tried to complete the buy. Since I have a Vanguard brokerage account, it’s not an issue for me. I use my JP Morgan Self-directed Account to purchase index mutual funds and ETFs. When buying Treasuries at auction was discontinued for JP Morgan Self-directed Accounts, I moved all of the money I planned to invest in Treasuries to Vanguard. A JP Morgan account is only viable if one uses Chase for services provided by a brick and mortar bank.

DMW
This is useful info -- thank you. Do you happen to remember whether Vanguard's active intermediate muni fund VWIUX is available? No need to log in again; just wondered if you happen to recall.
I don’t see it, but I do see VWITX (investor class).
zero_coupon
Posts: 578
Joined: Sun Jun 05, 2022 5:26 am

Re: experience with JP Morgan Self-Directed Investing?

Post by zero_coupon »

Joe Public wrote: Sat May 20, 2023 8:11 pm I don’t see it, but I do see VWITX (investor class).
Thanks.
boldeagle
Posts: 15
Joined: Thu Dec 24, 2020 12:50 am

Re: experience with JP Morgan Self-Directed Investing?

Post by boldeagle »

What is the core position for the full service brokerage account?
Rajsx
Posts: 1014
Joined: Wed Mar 21, 2007 10:07 pm
Location: Florida

Would you add Chase Private Client account ? help me consolidate

Post by Rajsx »

I went into the local Chase Bank inquiring about the Bonus of $3000 + $2000 respectively for the Chase Private Client account for my & DW's transfer of $500k + $250k from our taxable Revocable Trust accounts at Vanguard. They presently hold VTI and VXUS.

I met the Financial Advisor & the Branch Manager & they seem to say I need to keep the $750 k for 3 months in order to qualify for the bonus & + also need to hold $150k for 7 months for being in the Chase Private Client Banking. I expressed to the Advisor that I will be self managing my above 2 ETFs & am not interested in AUM type of management & he seemed to have no problem with it.

I am going over the Chase Private Client threads on this forum & I am left with these questions -

1) People do self manage their ETFs in the Chase Private Client & not every body is under the AUM ?

2) Some posts about somehow crossing the algorithms in the Chase network & their accounts get shut down.?

3)When 3 months is what is required for the Bonus & one can get their money out, then why is this requirement of $150k for 7 months required .

Our banking is presently done as follows -

1) Including the Safe Deposit Box, Debit Card for Cash needs is being met by a local Brick & Mortar bank,
2) Discover Bank , a High Yield Savings Account, our current Bill & Check Pay
3) Ally Banks for CDs & the Emergency Fund.
4) Fidelity Visa Card 2% seamless cash back, where most of our taxable Investments are, holding Vanguard ETFs
5) Amazon (Chase) Credit Card 5% cash back on Amazon(Lazy Shopping from the couch) purchases
6) Pentagon Federal Visa Card for 5% cash back at the Gas pump & also no Foreign Transaction Fee for travel abroad.

We are retired & not getting any younger & need help in decreasing the number of Banks in our Life i.e.. consolidating to fewer banks but here I am chasing the $5k ($3k +$2k) Bonus in adding a new account, how can I close some other banking account.

Please HELP, how would you do it ?, which are the ones would you keep ? excuse me for multi pronged questions in my post.

Thankyou in advance
User avatar
VictorStarr
Posts: 746
Joined: Sat Jan 04, 2020 9:13 pm
Location: Washington

Re: Would you add Chase Private Client account ? help me consolidate

Post by VictorStarr »

Rajsx wrote: Sun Aug 06, 2023 6:20 pm I went into the local Chase Bank inquiring about the Bonus of $3000 + $2000 respectively for the Chase Private Client account for my & DW's transfer of $500k + $250k from our taxable Revocable Trust accounts at Vanguard. They presently hold VTI and VXUS.

I met the Financial Advisor & the Branch Manager & they seem to say I need to keep the $750 k for 3 months in order to qualify for the bonus & + also need to hold $150k for 7 months for being in the Chase Private Client Banking. I expressed to the Advisor that I will be self managing my above 2 ETFs & am not interested in AUM type of management & he seemed to have no problem with it.

I am going over the Chase Private Client threads on this forum & I am left with these questions -

1) People do self manage their ETFs in the Chase Private Client & not every body is under the AUM ?

2) Some posts about somehow crossing the algorithms in the Chase network & their accounts get shut down.?

3)When 3 months is what is required for the Bonus & one can get their money out, then why is this requirement of $150k for 7 months required .

Our banking is presently done as follows -

1) Including the Safe Deposit Box, Debit Card for Cash needs is being met by a local Brick & Mortar bank,
2) Discover Bank , a High Yield Savings Account, our current Bill & Check Pay
3) Ally Banks for CDs & the Emergency Fund.
4) Fidelity Visa Card 2% seamless cash back, where most of our taxable Investments are, holding Vanguard ETFs
5) Amazon (Chase) Credit Card 5% cash back on Amazon(Lazy Shopping from the couch) purchases
6) Pentagon Federal Visa Card for 5% cash back at the Gas pump & also no Foreign Transaction Fee for travel abroad.

We are retired & not getting any younger & need help in decreasing the number of Banks in our Life i.e.. consolidating to fewer banks but here I am chasing the $5k ($3k +$2k) Bonus in adding a new account, how can I close some other banking account.

Please HELP, how would you do it ?, which are the ones would you keep ? excuse me for multi pronged questions in my post.

Thankyou in advance
I am doing this Chase Private Client (CPC) bonus.

1) You should specifically ask to open a JPM full-service brokerage account (non-managed, non-discretionary account). Basically it is an account in which you have sole discretion as to the purchase and sale of assets and no AUM fee.
See this doc for details:
https://investment.jpmorgan.com/content ... oducts.pdf

2) People always complain.

3) You have to maintain your investments for 90 days from coupon enrollment date (you have 45 days to transfer funds to JPM accounts). Chase will deposit your bonus directly into your account within 40 days. There is no requirement in "my offer" to hold $150k for 7 months after getting a bonus, double check the small print of your offer (and save it).

You have a good banking + credit card setup. If it works for you, keep it. Or you can move Ally accounts to Discover Bank.
User avatar
pre
Posts: 183
Joined: Mon Apr 04, 2011 2:14 am

Re: Would you add Chase Private Client account ? help me consolidate

Post by pre »

VictorStarr wrote: Sun Aug 06, 2023 7:03 pm 3) You have to maintain your investments for 90 days from coupon enrollment date (you have 45 days to transfer funds to JPM accounts). Chase will deposit your bonus directly into your account within 40 days. There is no requirement in "my offer" to hold $150k for 7 months after getting a bonus, double check the small print of your offer (and save it).
Agree with everything in @VictorStarr's post.

Just to add a bit to the 7 months point. For previous Chase checking account bank bonuses, the terms specified a minimum of 6 months, else potentially being penalized (i.e. they would claw back the bonus). Recently, this 6 month requirement has been removed from regular checking account bonuses.

This 6 month requirement doesn't seem to have ever been part of the CPC bonus requirements -- the CPC offer first started in 2020, if my notes are correct. I also just completed this CPC offer and there was no 6 month requirement.

I'm guessing the Chase banker mentioned 7 months just out of habit from the old regular checking requirement. Also, Chase bankers would only receive commission for processing the account opening if the account stayed open for >6 months -- although I don't know if this still applies
Rajsx
Posts: 1014
Joined: Wed Mar 21, 2007 10:07 pm
Location: Florida

Re: experience with JP Morgan Self-Directed Investing?

Post by Rajsx »

Thankyou VictorStarr & Pre,
Yes, I was thinking about closing Ally Account soon
I will talk to the Advisor at CPC account about this ?? 7 month requirement.
Rajsx
Posts: 1014
Joined: Wed Mar 21, 2007 10:07 pm
Location: Florida

Re: experience with JP Morgan Self-Directed Investing?

Post by Rajsx »

How do you compare Wells Fargo Premier to Chase Private Client ??

I have to find out if I & DW can have independent accounts & qualify for bonus of $2500 each for transfer in of $250,000 in each account, we will be transferring in VTI & VXUS from Vanguard.

Wells Fargo has the baggage of committing fraud with customers money & opening fake accounts in customers names. They were fined in billions for that. We will have to settle with that in our minds to proceed with Wells Fargo.
Rajsx
Posts: 1014
Joined: Wed Mar 21, 2007 10:07 pm
Location: Florida

Re: experience with JP Morgan Self-Directed Investing?

Post by Rajsx »

We are interested in buying a MYGA a multi year annuity of $250k for 3 yr duration.
I wonder if Chase Private Client would allow me to do that once I transfer $250k cash into Chase for the bonus .
They presently do have a bonus of $2500 for transferring in $250k investments & holding it there for 90 days
Has any one done this ?
buckeye7983
Posts: 248
Joined: Fri Jun 27, 2008 12:35 pm

Re: experience with JP Morgan Self-Directed Investing?

Post by buckeye7983 »

What is the current yield on the settlement fund in JP Morgan Self-Directed Investing accounts? Are there any options for settlement fund?

Thanks!
inverter
Posts: 1021
Joined: Mon Jul 27, 2015 1:40 pm
Location: New York, NY

Re: experience with JP Morgan Self-Directed Investing?

Post by inverter »

buckeye7983 wrote: Fri Sep 01, 2023 3:15 pm What is the current yield on the settlement fund in JP Morgan Self-Directed Investing accounts? Are there any options for settlement fund?

Thanks!
A pittance but you can buy a number of money market funds.
Post Reply