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 hundreds of 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. However, it was in 1871 that J. Pierpont Morgan and Anthony Drexel established Drexel, Morgan & Co., which later adopted the name J.P. Morgan & Co. 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, corporations 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.
Here are the investment minimums associated with J.P. Morgan wrap fee prgrams:
- Portfolio Advisor (PA) and Portfolio Manager (PM) Programs: $10,000 minimum
- STRATIS Program:
- $100,000 for equity strategies
- $50,000 for Multi-Manager Strategies
- $250,000 for fixed-income strategies
- Customized Bond Portfolio (CBP):
- $250,000 for municipal portfolios
- $100,000 for taxable accounts
- $500,000 for certain corporate bond portfolios
- Unified Managed Account (UMA): Minimums vary depending on investment selections
- Institutional Consulting Solutions (ICS): $100,000 minimum, subject to the Portfolio Manager’s specific requirements
- J.P. Morgan Custom Advisory Portfolio (JPMCAP):
- $10,000 minimum.
- $250,000 minimum for models containing Liquid Alternative Funds
Meanwhile, J.P. Morgan's Personal Advisors Program requires a minimum investment of $25,000, plus $10,000 for each additional account.
The firm also offers other wrap fee programs that impose the following minimums:
MFAP (Mutual Fund Advisory Portfolio): $50,000 minimum investment
CSP (Chase Strategic Portfolio):
- $50,000 minimum investment
- $500,000 minimum to invest in other securities through Model Managers or SMAs
JPMCAP (J.P. Morgan Core Advisory Portfolio):
- $10,000 minimum investment
- $250,000 minimum to invest in Liquid Alternative Funds
- $750,000 minimum to elect to have assets invested in individual securities through Models with Model Managers
Advisory Program:
- $50,000 minimum for Multi-Manager Strategies
- $100,000 minimum for equity and fixed-income Portfolio Manager and Model Manager accounts
FIAP (Fixed Income Advisory Program):
- $250,000 minimum for tax-aware Customized Bond Portfolio (CBP) strategies
- $100,000 minimum for taxable CBP strategies
- $500,000 minimum for certain corporate bond and customized preferred portfolios
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.
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. Depending on the program that a client is enrolled, their portfolio may include different types of investments and follow a range of investment startegies.
For instance, clients enrolled in the firm's Personal Advisors Program may see their assets invested in income, conservative, balanced, growth, and aggressive growth portfolios. Additionally, there are ESG-focused strategies, such as the Balanced ESG and Growth ESG strategies, that incorporate environmental, social, and governance factors into their investment process. Some strategies offer customization options, like the choice of municipal fixed-income investments for taxable accounts. Investments are typically made through a mix of mutual funds and exchange-traded funds (ETFs).
Fees Under J.P. Morgan Securities
For those using J.P. Morgan Securities for its portfolio management program, there numerous wrap-fee programs that combine fees for management services, execution of transactions, clearing and settlement of trades, custody of client’s assets and periodic written performance reviews.
| Managed Futures Asset Program (MFAP), Core Strategy Program (CSP), J.P. Morgan Custom Asset Program (JPMCAP), and Advisory 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% |
The fees for the J.P. Morgan Personal Advisors Program are structured as follows:
| J.P. Morgan Personal Advisors Program Fee Schedule | |
| Assets Under Management | Fee Rate |
| $0 - $250,000 | 0.60% |
| $250,000 and over | 0.50% |
Personal Advisor clients with $1 million or more in their account as of May 31, 2024, will continue to pay a previously existing fee of 0.40%, which will remain in effect until further notice.
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
- Being 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.
All information is accurate as of the writing of this article.
Financial Planning Tips
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