Search found 9 matches

by isaacco
Fri Apr 12, 2019 11:54 am
Forum: Personal Investments
Topic: Chase YouInvest cost basis method
Replies: 53
Views: 7657

Re: Chase YouInvest cost basis method

Regarding the cash sweep position, this reserve provides 0.03% for taxable and retirement accounts :annoyed . From what I know, Vanguard offers 2.01% and Fidelity at 2.09% (2.13% for IRA). But, if you let them manage your investments for you they will give you 2.25%? This pushes investors to not ha...
by isaacco
Thu Apr 04, 2019 6:13 pm
Forum: Personal Investments
Topic: Chase YouInvest cost basis method
Replies: 53
Views: 7657

Re: Chase YouInvest cost basis method

Then there are the astronomical fees :annoyed . I wanted to buy REITs such as AGNC, NLY and VNQ (REIT ETF). Turns out they charge $250 administration fees per year? Who does that? $6 for statement copies? And for anyone planning to transfer out securities or entire account, there is a $75 fee for t...
by isaacco
Thu Apr 04, 2019 2:21 am
Forum: Personal Investments
Topic: Chase YouInvest cost basis method
Replies: 53
Views: 7657

Re: Chase YouInvest cost basis method

I know the cost basis barely matters with retirement accounts, so I kept a part of my IRA at YouInvest. After some more more time with YouInvest, I may be moving that out as well as there is more information I have stumbled across. :shock: Regarding the cash sweep position, this reserve provides 0.0...
by isaacco
Thu Apr 04, 2019 1:55 am
Forum: Personal Investments
Topic: Chase YouInvest cost basis method
Replies: 53
Views: 7657

Re: Chase YouInvest cost basis method

I transferred out to fidelity and the transaction ledger carried over and fidelity kept the specID cost basis for me. Only good news from YouInvest (and that's due to some regulatory protocol). Chase received my cost basis info, and it's correctly updated on the positions page. Each lot has the corr...
by isaacco
Tue Feb 12, 2019 7:05 pm
Forum: Personal Investments
Topic: Chase YouInvest cost basis method
Replies: 53
Views: 7657

Re: Chase YouInvest cost basis method

I'm confused here. If you can sell specific shares (which seems to be available now as a feature) to minimize taxes, wouldn't the gains/losses still be reported correctly for tax purposes? I think the issue is that even if you specify the tax lots to sell, the cost basis for each tax lot would be a...
by isaacco
Tue Feb 12, 2019 7:03 pm
Forum: Personal Investments
Topic: Chase YouInvest cost basis method
Replies: 53
Views: 7657

Re: Chase YouInvest cost basis method

Funny how I was never given this option with all the folks I messaged and talked to over the phone. The regular JPMS brokerage account (not You Invest) has a form which you can fill out to have this done, which I brought up, and was told its not something they can flick on or off. Nonetheless, I alr...
by isaacco
Mon Feb 11, 2019 9:52 pm
Forum: Personal Investments
Topic: Chase YouInvest cost basis method
Replies: 53
Views: 7657

Re: Chase YouInvest cost basis method

The "Average cost" appears to not apply to all ETFs (though maybe it applies to most of the ones that people care about). It's weird that even ETFs in the same family are treated differently: SHV and ICSH are both ETFs from iShares; in the Positions view, SHV shows "A" (Average cost), but ICSH does...
by isaacco
Mon Feb 11, 2019 3:09 pm
Forum: Personal Investments
Topic: Chase YouInvest cost basis method
Replies: 53
Views: 7657

Re: Chase YouInvest cost basis method

I asked a banker about SpecId support a few months back and was told it would be added in time - it's basically a brand new product right now. See if they told me that, it would be understandable... but instead I received tooooo many dodgy answers. Also, I am not willing to take on a tax bill that ...
by isaacco
Mon Feb 11, 2019 5:14 am
Forum: Personal Investments
Topic: Chase YouInvest cost basis method
Replies: 53
Views: 7657

Re: Chase YouInvest cost basis method

Bad news. They do Average Cost basis for all account types and there's no way to solve it. I've been back and forth with them for over a week since it is happening in my Taxable account and no way o harvest. Over several calls I get dodgy answers like "The ETF provider doesn't allow Specific ID" - w...