You Invest By J.P. Morgan Review: My Experience Using You Invest
Ranking
9/10
The You Invest by J.P. Morgan app makes it easy to build and manage a portfolio. With no fees and no minimum investment, it’s a great tool for new investors.
Best for:
- New investors
- Investors with limited funds
- Those who like tech-based investing
Disclosure – INVESTMENT PRODUCTS: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
J.P. Morgan is a respected name in investing, but newer investors may find the process of lining up a stockbroker intimidating. With You Invest, J.P. Morgan helps you set up your portfolio through an easy-to-use app. Best of all, you can get started with as little as $1!
If you want more guidance in your investments, J.P. Morgan has you covered, as well. You Invest Portfolios matches you with the perfect portfolio to fit your needs, along with the expertise necessary to make it thrive.
Although I’d love having expert guidance, the Portfolios option was a bit pricey for me, requiring at least a $500 initial investment. But there’s another option – with You Invest Trade, I can invest as much or as little as I want, giving me the freedom to become acquainted with the platform.
Over time, I can up my investment and even make the switch to the Portfolios option if I want.
How does You Invest by J.P. Morgan work?
When you select Open an Account from the main page, you’ll be automatically directed to the You Invest Trade tool, which is the free option.
If you want to set up a portfolio, you’ll need to go directly to You Invest Portfolios, which is on the top menu bar of each screen. When signing up for You Invest Trade, you’re given three major options: open a brokerage account, open a traditional IRA, or open a Roth IRA.
I chose to open a brokerage account. You’ll be asked to input some personal information, including your Social Security number and employment information.
To get started, you’ll choose whether you want to start an individual or joint account. If you’re an existing Chase customer, choose Yes here to use your existing account login.
To determine whether you’re eligible for an account, You Invest will need to gather some information about you.
In addition to your contact information and Social Security number, you’ll need to prove your identity by providing either a driver’s license or state ID number.
After you’ve provided your information, J.P. Morgan will pull credit data to prequalify you for an account. This check won’t affect your credit score.
Pricing and minimum balance
- You Invest Trade – comes with no fees or minimum balance. Simply sign up with as little as $1 and begin building your portfolio. Note that there are some regulatory transaction fees even with the You Invest Trade plan.
- You Invest Portfolios – you’ll pay an annual advisory fee of 0.35%, which is as little as $0.15 per month for a $500 investment. And you’ll need at least $500 initially, and you’ll be required to maintain a minimum monthly balance of $250.
You Invest by J.P. Morgan features
There are many investment platforms available. Here are a few features that set You Invest by J.P. Morgan apart.
Low cost
Whether you choose You Invest Trade or You Invest Portfolios, you’ll get a very affordable investing experience.
You Invest Trade is free, but even with You Invest Portfolios, you’ll only pay a 0.35% annual advisory fee. Compared to similar services, that’s a great deal.
No minimum investment
One barrier to entry for many new investors is the minimum requirement to get started. You Invest’s Trade feature lets you start investing with as little as $1.
It’s a great way to familiarize yourself with the platform and get comfortable with investing before sinking more money into it.
Easy account management
Through the app, you’ll get constant oversight into your portfolio’s performance. The app walks you through building a portfolio that satisfies your own risk comfort levels while also helping you reach your financial goals.
Best in class expertise
J.P. Morgan is known for its investment expertise. If you choose You Invest Portfolios, you’ll have the peace of mind of knowing your portfolio is built by experts.
However, even with You Invest Trade, your choices will be informed by the data J.P. Morgan collects on the market each day.
Integration with Chase features
If you’re already a Chase customer, you’ll love the fact that you can manage everything in one place. Monitor your checking and savings accounts along with your investment accounts, all from the convenience of the app.
Who is You Invest by J.P. Morgan best for?
New investors
You Invest by J.P. Morgan’s low cost to entry makes it perfect for those who want to gradually work their way into investing.
I found the fact that I could start with just a few dollars made investing much less daunting than it had ever been before.
Investors on a budget
Although You Invest Trade is free, even You Invest Portfolios brings minimal fees. Compared to similar services, having unlimited trades for a small 0.35% annual advisory fee is a huge benefit.
Those needing expertise
When it comes to investing, it’s hard to beat the proven expertise of J.P. Morgan’s team. Having access to that knowledge, both in the form of human portfolio managers and the artificial intelligence baked into the platform can give you a big boost of confidence as you start to invest.
Who shouldn’t use You Invest by J.P. Morgan?
Those who prefer one-on-one advice
Technology has transformed the financial industry, but that doesn’t mean app-based investing is for everyone.
Some will simply prefer to sit down across from an expert. You may also like knowing that the same expert is taking a look at your portfolio on a regular basis and making adjustments as necessary.
Big spenders
Although you can certainly pour money into your investments through You Invest by J.P. Morgan, if you have thousands of dollars to invest, you may want a different approach. This app is best for those who want to start small.
Experienced do-it-yourselfers
You Invest by J.P. Morgan has great built-in tools. However, if you’ve been investing through apps for a while, you may find the tools lacking compared to others you already use.
Pros & cons
Pros
- No fees — Invest using the You Invest Trade tool without paying advisory fees.
- Access to expertise — Participating in You Invest by J.P. Morgan gives you access to the expertise built into the app.
- Easy to use — The intuitive interface makes it easy even for beginners to get started.
Cons
- Fully online — All transactions are through the app, which may disappoint those who like one-on-one consultation.
- Fees for expert help — To access the expert-guided features of the platform, you’ll pay a 0.35% annual fee.
- Minimum investment for portfolios — To participate in You Invest Portfolios, you’ll need at least $500 and a maintained balance of $250.
You Invest by J.P. Morgan vs. competitors
| Advisory fee | Minimum initial investment | |
|---|---|---|
| Ally Invest | $0 | $0 or $100 |
| E*TRADE | $0-$1.50 per trade | $500 |
| TD Ameritrade | $0-$25 per trade | $0 or $2,000 |
There are other options for online investing. Here are some of You Invest by J.P. Morgan’s top competitors.
E*TRADE
E*TRADE is a well-known name in online investing, primarily for its affordable trades.
You’ll set your goals and create your portfolio, researching the information you need to make educated decisions.
Like You Invest by J.P. Morgan, though, you also have the option of a managed portfolio, if you’re not a fan of the do-it-yourself model.
Ally Invest
Another platform with both self- and professionally-managed portfolio options, Ally Invest offers a wide range of trading options.
The best thing about Ally Invest is that you’ll pay no commissions, even if you have your portfolio managed for you.
You’ll need at least $100 to get started with the managed portfolio option, but that amount is still lower than competitors.
TD Ameritrade
One thing that makes TD Ameritrade stand out is its tools.
With its online platform, TD Ameritrade provides commission-free trading and all the information you need to research various stocks.
The thinkorswim platform lets you try out various strategies and see projections to help you make the best decisions.
My experience using You Invest by J.P. Morgan
What I love about You Invest by J.P. Morgan is that the interface walks you through the process, asking you to set a goal, establish a timeline for reaching that goal, and specify how much you intend to invest each month. As you enter information, you’ll see how much you can expect that money to grow over time.
Once you’ve set your goals, you’ll get a recommendation for your allocations. You can tweak your planned contributions and initial investment, immediately seeing projected market outcomes in a chart on the same page. That’s a great tool!
You can also choose specific companies for your investments. Your selections will be collected and an order placed, allowing you to tweak just how much of your contributions you want to be allocated to various assets. Once you’re finished, you’ll receive a confirmation of all your selections.
Once your portfolio is set up, you can monitor performance online or through the mobile app. You’ll see how much your portfolio is worth, as well as a summary of your gains and losses.
Chase does all the hard work for you! It doesn’t get much better than that.
Summary
It’s never been easier to build a portfolio and start making money. Whether you choose to manage your investments yourself or turn them over to the experts, You Invest by J.P. Morgan is one of the best in its class.
Since you pay no fees and can start with as little as $1, going with You Invest is kind of a no-brainer in my book at this point.
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Hi, is it possible to set up automatic investing on specific dates with You Invest Trade?
Hi Remy,
I would reach out to You Invest personally, with that question!