J.P. Morgan Advisor Review
J.P. Morgan, one of the world’s largest banks, offers wealth management and financial advice. Learn how these services work and what they include here.
J.P. Morgan is an international bank and financial services firm based in New York, NY. As of 2023, it is the largest bank in the world by market capitalization. The company offers banking products, credit cards, and much more. It’s registered with the SEC as a registered investment advisor (RIA) as J.P. Morgan Securities LLC. Additionally, it’s a registered broker-dealer with FINRA under the same name.
In addition to banking, J.P. Morgan offers wealth management and financial advice. In this guide, you’ll learn about the two major product tiers for this offering, Personal Advisors and Private Client Advisor. This includes what each includes and how much they cost. We’ll also break down key company information, including disclosures, contact instructions, and how to open an account.
Assets Under Management
$3 trillion as of 2023
Number of Employees
December 1, 2000
383 Madison Avenue, New York, NY 10179
Types of Clients J.P. Morgan Serves
J.P. Morgan offers two major tiers for its financial advisor services – Personal Advisors and Private Client Advisor. The former has a much lower barrier to entry and is tailored toward the more novice investor. However, the latter offers private services for wealthier individuals. Below is a breakdown of the minimum investment requirements for each tier:
- J.P. Morgan Personal Advisors – $25,000
- J.P. Morgan Private Client Advisor – $100,000+
Without meeting the criteria above, you won’t be able to use either product. If you do end up hiring a J.P. Morgan advisor, keep in mind that you’ll need to pay ongoing fees as a percentage of assets under management (AUM).
Financial Advisor Services J.P. Morgan Offers
J.P. Morgan offers two main advisor products, which are tiered based on your minimum investment. The first gives you access to a team of finance experts via phone or video, as well as professionally run portfolios. However, with a larger investment, you gain access to the second product, which grants you a dedicated professional. Here’s a more specific look at what each product has to offer:
J.P. Morgan Personal Advisors
With an investment of $25,000 or more, J.P. Morgan’s Personal Advisors product gives you access to a team of fiduciary experts via phone or video. These professionals will build you a financial plan tailored to your goals, as well as provide active advice as you need it.
Another feature of Personal Advisors is that, after understanding your goals, risk tolerance, and time horizon, you’ll receive a turnkey personalized portfolio. In other words, J.P. Morgan will set you up with a portfolio with the right asset allocation and diversification based on your needs.
J.P. Morgan Private Client Advisor
The more money you have, the more important it is to have an advisor be able to work one on one with you. With J.P. Morgan’s Private Client Advisor, you’ll receive a dedicated professional if you make an initial investment of $100,000 or more. They’ll help you build a comprehensive financial plan that fits your needs and goals. You’ll also receive active and consistent advice as needed.
Another benefit of this tier is that an advisor will create a custom portfolio for you, rather than have you choose a pre-set one. With this, you’ll receive access to a wide range of investments and financial products that help you achieve diversification and proper asset allocation.
Types of Advisors
J.P. Morgan does not provide much information on its website about the credentials its advisors hold. However, each of its representatives must adhere to a fiduciary standard because the firm is an RIA. This makes each employee an investment advisor representative (IAR), who must act in your best interest at all times.
J.P. Morgan largely charges clients flat fees. For both advisor products it offers, it takes a percentage of AUM, which adjusts based on how much you have. In the table below, we display what the annual fee will be for each asset level:
|Annual Fee (% of AUM)
Be aware that advisory fees don’t include extra costs you may incur from transactions or fund management. You’ll also be on the hook for paying taxes on any returns you gain.
J.P. Morgan’s Investment Philosophy
J.P. Morgan’s advisor products uniquely attempt to pair you with a portfolio that either suits or is customized for your needs. From what we can tell, there is not a definitive philosophy the company follows with each client. Rather, a professional’s approach varies based on the client, with these factors in mind:
- Goals. Your goals, no matter how ambitious, heavily dictate the strategy your advisor implements as they choose investments.
- Risk tolerance. How much risk you can handle is another factor that can impact what investments make up your portfolio. For instance, if you’re not comfortable with taking big swings, your advisor might steer your portfolio toward safer securities, such as mutual funds or ETFs.
- Time horizon. The amount of time you have to reach your goals can impact the investments you make. As an example, imagine that you’re nearing retirement. In this case, fixed-income or lower-risk investments may be wise.
Even despite the factors above, your advisor will likely employ techniques like asset allocation and diversification. These methods help mitigate risk as market conditions inevitably change year after year.
In the past decade, J.P. Morgan Securities has had several disclosures against it you should be aware of, including where the firm pled guilty to a felony charge. Each one is readily available in the firm’s Form ADV filing with the SEC. However, a notable example is from 2015, in which the firm pled guilty to a felony crime charge due to violation of the Sherman Antitrust Act. The company had to pay a $550,000,000 fine, as well as be put on probation for three years.
If you need to contact J.P. Morgan’s customer service for any reason, the company makes it easy to do so. Depending on what you need, you’ll have a variety of contact methods to choose from:
- Corporate customer service line – (800) 935-9935
- Advisor consultations – (800) 969-1734, Monday-Friday, 8am-9pm EST
- Personal banking – (800) 935-9935
How to Get Started with J.P. Morgan
To start working with a J.P. Morgan advisor, you may either visit the company’s website and schedule a consultation or call (800) 969-1734, Monday-Friday, 8am-9pm EST. Then, you’ll sit down with a professional, so that they may understand your goals and current financial situation.
If you’re investing less than $100,000, you can expect to be corresponding over video or phone calls with a team of experts. Otherwise, you’ll receive a dedicated advisor who’ll continuously help build your portfolio according to your desires.
Tips for Choosing a Financial Advisor Firm
Picking a firm to work with is an important decision. Convenience and quality are important factors. However, perhaps most important is the caliber of the professionals working there. For this reason, you should aim to sit down and talk with representatives from prospective companies to gauge their expertise and trustworthiness.
The barrier to entry to work with an advisor is another consideration you’ll need to make. J.P. Morgan’s minimum investment requirements aren’t nearly as high as some other firms. Ensure you’re looking at companies that you’re eligible to work with and whose fees you can afford to pay.
To jumpstart your search for a quality advisor, we recommend using this free matching tool. Once you fill out a quiz about your financial situation, it’ll match you with up to three vetted fiduciary experts near you.
The information in this review is based on publicly available information directly from J.P. Morgan’s website and the SEC. Neither the firm nor its representatives have any say on what we’ve included on this page.
Frequently Asked Questions
How much does J.P. Morgan charge for advisory fees?
J.P. Morgan’s advisory fees take a percentage of AUM. So, the amount you end up paying will depend on your initial investment and adjust over time. The more you have, the smaller the percentage will be. To give you an idea of what to expect, the firm claims to charge 0.6% for clients that invest $25,000 to $249,000 and 0.4% for clients that have over $1,000,000 AUM.
What is the difference between J.P. Morgan’s Personal Advisors and Private Client Advisor?
The former refers to the firm’s lower-tier service, in which you’ll only gain access to a team of phone-based advisors. On the other hand, the latter is for clients that invest over $100,000 initially. With this investment, you’ll gain access to a dedicated expert who’ll help structure your portfolio and offer ongoing advice.
How much money do you need to be a J.P. Morgan private client?
To be eligible for J.P. Morgan’s Private Client Advisor service, you need to invest at least $100,000. Otherwise, you’ll only be able to work with a team of professionals over the phone to build your portfolio.
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