It seems that this has changed from when the platform first launched. Hope the below info helps anyone who is trying to figure out what is possible with You Invest and if it's worth keeping after moving funds over to get a bonus.
I signed up to You Invest after it launched and deposited enough funds to upgrade our accounts to Chase Private Client. The funds I transferred were a combination of Vanguard total stock market ETF (VTI) and Vanguard prime money market (VMMXX) in taxable, and Vanguard total international stock market (VXUS) in my Roth IRA.
As many posters here have stated, it initially wasn't possible to purchase Vanguard Admiral shares, however, it was possible to buy money market, and investor class shares mutual funds. I think that this changed around the time that Vanguard lowered the minimum for Admiral funds as recently You Invest (same platform for Sapphire banking and CPC accounts) enabled the ability to transact Vanguard admiral funds. I tested this last week with a test order to exchange VMMXX into VTIAX and also a test order to purchase $3.5k of VTSAX, both of which I canceled after the order was successfully queued, as I didn't need to make the trades according to my IPS. I later sent a secure message to Chase, and they confirmed admiral funds are now available.
Overall, getting unlimited free trades for ETFs, Vanguard money market funds and Vanguard Admiral shares seems like a compelling value proposition My plan going forward is to use mutual funds in my retirement accounts and ETFs in my taxable accounts that I can trade for tax loss harvesting. All for no fee, and all in one place.
That plus the ATM rebates, and no FX fees when withdrawing cash when traveling seem like a pretty awesome value proposition.
Of course, there are still some things I don't like, such as:
- Error when looking at fund info for VMMXX [not a big deal, but strange]
- No way to set up automated fund purchases in my Traditional IRA via the platform [possible with a short call, supposed to be added this year]
- No way to convert my Trad IRA into a Roth IRA without filling in a manual form [supposed to be added this year]