You Invest by JP Morgan Chase

Have a question about your personal investments? No matter how simple or complex, you can ask it here.
old_bean
Posts: 8
Joined: Thu Jul 05, 2018 2:36 pm

Re: You Invest by JP Morgan Chase

Post by old_bean » Sat Jan 26, 2019 2:58 pm

G-Force wrote:
Tue Jan 08, 2019 11:19 pm

The last time I tried I was not able to purchase Admiral Shares. Has this changed with you invest accounts?
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]

User avatar
SlowMovingInvestor
Posts: 1428
Joined: Sun Sep 11, 2016 11:27 am

Re: You Invest by JP Morgan Chase

Post by SlowMovingInvestor » Sun Jan 27, 2019 2:55 pm

old_bean wrote:
Sat Jan 26, 2019 2:58 pm

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]
Actually, I think that is important. I've seen that too, and other quirks in the web site [ For instance, I sometimes see what look like debugging statements just before a page comes up]. I think there are bugs and problems in the site that Chase has yet to work out, and us early adopters are guinea pigs :)

old_bean
Posts: 8
Joined: Thu Jul 05, 2018 2:36 pm

Re: You Invest by JP Morgan Chase

Post by old_bean » Sun Jan 27, 2019 9:08 pm

Thankfully I haven't seen that error as I would have been concerned if I did, and I agree that we're acting like their QA team right now which isn't ideal. Seems to be the new normal with software these days :(

vudupulz
Posts: 7
Joined: Wed Sep 27, 2017 12:54 pm

Re: You Invest by JP Morgan Chase

Post by vudupulz » Tue Jan 29, 2019 1:10 pm

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.
I tried buying VTIAX and VTSAX but got an error message saying this fund is not available for purchase in my account ( You Invest, Sapphire Banking). Anyone else faced the same issue?

old_bean
Posts: 8
Joined: Thu Jul 05, 2018 2:36 pm

Re: You Invest by JP Morgan Chase

Post by old_bean » Wed Jan 30, 2019 1:24 pm

To confirm today what the Chase representative told me via secure message I sold some VXUS and then put in a buy order for VTIAX in my ROTH IRA - I received the error message. Seems they were incorrect. Not sure how I was able to put in that buy order before, but in any case, I guess it's best to stick with ETFs for now.

User avatar
DukeMeredith
Posts: 7
Joined: Sun Aug 19, 2018 11:03 pm
Location: Dallas, Texas

Re: You Invest by JP Morgan Chase

Post by DukeMeredith » Wed Jan 30, 2019 2:59 pm

I did not like keeping $15,000 in my Chase premier checking and savings accounts earning near-nothing in interest. But I live in an area with a great number of Chase branches and ATMs, so the convenience has made me stay.

When You Invest was introduced, my understanding was that any money in a You Invest account would count toward the $15,000 minimum to avoid the $25.00 monthly fee. So I moved the majority of my money at Chase to You Invest and put > $15,000 in VMMXX.

This month I noticed a $25.00 fee for not meeting the minimum, which was just not true. I spoke with a Chase rep via secure mail, and they credited the $25.00 fee and stated that my You Invest was not "linked" to my premier accounts. They corrected that so it should not happen in the future.

I asked how I could "link" the accounts personally and was told there was no way for the customer to do so on their end.

I post this as an FYI for anyone who is considering doing what I did to avoid the fee for premier checking and savings accounts.

am
Posts: 3075
Joined: Sun Sep 30, 2007 9:55 am

Re: You Invest by JP Morgan Chase

Post by am » Wed Jan 30, 2019 3:13 pm

DukeMeredith wrote:
Wed Jan 30, 2019 2:59 pm
I did not like keeping $15,000 in my Chase premier checking and savings accounts earning near-nothing in interest. But I live in an area with a great number of Chase branches and ATMs, so the convenience has made me stay.

When You Invest was introduced, my understanding was that any money in a You Invest account would count toward the $15,000 minimum to avoid the $25.00 monthly fee. So I moved the majority of my money at Chase to You Invest and put > $15,000 in VMMXX.

This month I noticed a $25.00 fee for not meeting the minimum, which was just not true. I spoke with a Chase rep via secure mail, and they credited the $25.00 fee and stated that my You Invest was not "linked" to my premier accounts. They corrected that so it should not happen in the future.

I asked how I could "link" the accounts personally and was told there was no way for the customer to do so on their end.

I post this as an FYI for anyone who is considering doing what I did to avoid the fee for premier checking and savings accounts.
I have sapphire checking with 75k+ in etfs parked in youinest without any problems now. But when I first opened the account to get the bonus the bankers at my branch were utterly clueless about the bonus and sapphire checking account. I wasted a lot of time sitting there while manager called higher ups to clarify. Then had to come back the next day to open the account because initially they told me brokerage assets weren’t eligible. Makes me think i am in a tiny minority of people opening this account and chasing these bonuses.

User avatar
SlowMovingInvestor
Posts: 1428
Joined: Sun Sep 11, 2016 11:27 am

Re: You Invest by JP Morgan Chase

Post by SlowMovingInvestor » Wed Jan 30, 2019 3:38 pm

DukeMeredith wrote:
Wed Jan 30, 2019 2:59 pm
This month I noticed a $25.00 fee for not meeting the minimum, which was just not true. I spoke with a Chase rep via secure mail, and they credited the $25.00 fee and stated that my You Invest was not "linked" to my premier accounts. They corrected that so it should not happen in the future.

I asked how I could "link" the accounts personally and was told there was no way for the customer to do so on their end.

I post this as an FYI for anyone who is considering doing what I did to avoid the fee for premier checking and savings accounts.
When I opened my You Invest account online, it asked me to login to my Chase account if I had one. I did, and it linked all my accounts (bank, CC, You Invest) without any problems.

User avatar
DukeMeredith
Posts: 7
Joined: Sun Aug 19, 2018 11:03 pm
Location: Dallas, Texas

Re: You Invest by JP Morgan Chase

Post by DukeMeredith » Wed Jan 30, 2019 3:47 pm

SlowMovingInvestor wrote:
Wed Jan 30, 2019 3:38 pm
When I opened my You Invest account online, it asked me to login to my Chase account if I had one. I did, and it linked all my accounts (bank, CC, You Invest) without any problems.
Very curious. When I opened the You Invest account, I was logged into my Chase account and had clicked the "Investments" tab at the top of the page. After opening, the You Invest balance shows up below my premier accounts and above my credit card account in the left banner; so I presumed they were "linked" from the very beginning.

User avatar
SlowMovingInvestor
Posts: 1428
Joined: Sun Sep 11, 2016 11:27 am

Re: You Invest by JP Morgan Chase

Post by SlowMovingInvestor » Wed Jan 30, 2019 4:00 pm

DukeMeredith wrote:
Wed Jan 30, 2019 3:47 pm
SlowMovingInvestor wrote:
Wed Jan 30, 2019 3:38 pm
When I opened my You Invest account online, it asked me to login to my Chase account if I had one. I did, and it linked all my accounts (bank, CC, You Invest) without any problems.
Very curious. When I opened the You Invest account, I was logged into my Chase account and had clicked the "Investments" tab at the top of the page. After opening, the You Invest balance shows up below my premier accounts and above my credit card account in the left banner; so I presumed they were "linked" from the very beginning.
Wait -- I had assumed they were linked up because they showed up on the same page. You're saying they're not actually linked ?

Whom do I have to call to link them ? Chase Sapphire Banking phone number or You Invest phone number ?

User avatar
DukeMeredith
Posts: 7
Joined: Sun Aug 19, 2018 11:03 pm
Location: Dallas, Texas

Re: You Invest by JP Morgan Chase

Post by DukeMeredith » Wed Jan 30, 2019 6:13 pm

SlowMovingInvestor wrote:
Wed Jan 30, 2019 4:00 pm
Wait -- I had assumed they were linked up because they showed up on the same page. You're saying they're not actually linked ?

Whom do I have to call to link them ? Chase Sapphire Banking phone number or You Invest phone number ?
That was my assumption, too, because they showed up on the same page. I sent a secure message via Chase's website and received a reply within an hour. They advised that they "linked" the accounts (and further advised that there was no mechanism for the customer him/herself to "link" the accounts).

User avatar
magicwaltz
Posts: 20
Joined: Thu Jan 31, 2019 2:10 am

Re: You Invest by JP Morgan Chase

Post by magicwaltz » Thu Jan 31, 2019 2:25 am

DukeMeredith wrote:
Wed Jan 30, 2019 2:59 pm
I did not like keeping $15,000 in my Chase premier checking and savings accounts earning near-nothing in interest. But I live in an area with a great number of Chase branches and ATMs, so the convenience has made me stay.

When You Invest was introduced, my understanding was that any money in a You Invest account would count toward the $15,000 minimum to avoid the $25.00 monthly fee. So I moved the majority of my money at Chase to You Invest and put > $15,000 in VMMXX.

This month I noticed a $25.00 fee for not meeting the minimum, which was just not true. I spoke with a Chase rep via secure mail, and they credited the $25.00 fee and stated that my You Invest was not "linked" to my premier accounts. They corrected that so it should not happen in the future.

I asked how I could "link" the accounts personally and was told there was no way for the customer to do so on their end.

I post this as an FYI for anyone who is considering doing what I did to avoid the fee for premier checking and savings accounts.
I've heard others have the same issue too. They opened Chase Sapphire Banking and deposited 75k, and transferred the funds to You Invest to buy VMMXX. They got charged $25 for not meeting the minimum balance requirement. And when they asked in the secure message, the rep replied:
"Qualifying personal investments include prior end-of-month balances for investment and annuity products offered by JPMorgan Chase & Co. or its affiliates and agencies. Balances in certain retirement plan investment accounts, such as Money Purchase Pension and Profit Sharing Plans, do not qualify."
Not sure what that means tho. It makes me wonder if all kinds of investments just don't count as the balance. Hopefully it's not the case.

arf30
Posts: 619
Joined: Sat Dec 28, 2013 11:55 am

Re: You Invest by JP Morgan Chase

Post by arf30 » Thu Jan 31, 2019 7:29 am

I've seen posts in several forums about this problem, probably not the best customer experience for actual Sapphire customers who aren't just chasing the bonus.

User avatar
SlowMovingInvestor
Posts: 1428
Joined: Sun Sep 11, 2016 11:27 am

Re: You Invest by JP Morgan Chase

Post by SlowMovingInvestor » Thu Jan 31, 2019 12:02 pm

magicwaltz wrote:
Thu Jan 31, 2019 2:25 am

I've heard others have the same issue too. They opened Chase Sapphire Banking and deposited 75k, and transferred the funds to You Invest to buy VMMXX. They got charged $25 for not meeting the minimum balance requirement. And when they asked in the secure message, the rep replied:
"Qualifying personal investments include prior end-of-month balances for investment and annuity products offered by JPMorgan Chase & Co. or its affiliates and agencies. Balances in certain retirement plan investment accounts, such as Money Purchase Pension and Profit Sharing Plans, do not qualify."
Not sure what that means tho. It makes me wonder if all kinds of investments just don't count as the balance. Hopefully it's not the case.
Based on my experience, the CSRs who handle secure message are likely just misinformed. I was told by a Chase Sapphire Rep on the phone that You Invest accounts most definitely do qualify.

robertmcd
Posts: 554
Joined: Tue Aug 09, 2016 9:06 am

Re: You Invest by JP Morgan Chase

Post by robertmcd » Thu Jan 31, 2019 12:11 pm

SlowMovingInvestor wrote:
Thu Jan 31, 2019 12:02 pm
magicwaltz wrote:
Thu Jan 31, 2019 2:25 am

I've heard others have the same issue too. They opened Chase Sapphire Banking and deposited 75k, and transferred the funds to You Invest to buy VMMXX. They got charged $25 for not meeting the minimum balance requirement. And when they asked in the secure message, the rep replied:
"Qualifying personal investments include prior end-of-month balances for investment and annuity products offered by JPMorgan Chase & Co. or its affiliates and agencies. Balances in certain retirement plan investment accounts, such as Money Purchase Pension and Profit Sharing Plans, do not qualify."
Not sure what that means tho. It makes me wonder if all kinds of investments just don't count as the balance. Hopefully it's not the case.
Based on my experience, the CSRs who handle secure message are likely just misinformed. I was told by a Chase Sapphire Rep on the phone that You Invest accounts most definitely do qualify.
Correct I messaged them about this and they refunded the $25 for the first partial statement since my 75k wasn't in there for the full period.

User avatar
magicwaltz
Posts: 20
Joined: Thu Jan 31, 2019 2:10 am

Re: You Invest by JP Morgan Chase

Post by magicwaltz » Thu Jan 31, 2019 12:17 pm

SlowMovingInvestor wrote:
Thu Jan 31, 2019 12:02 pm
magicwaltz wrote:
Thu Jan 31, 2019 2:25 am

I've heard others have the same issue too. They opened Chase Sapphire Banking and deposited 75k, and transferred the funds to You Invest to buy VMMXX. They got charged $25 for not meeting the minimum balance requirement. And when they asked in the secure message, the rep replied:
"Qualifying personal investments include prior end-of-month balances for investment and annuity products offered by JPMorgan Chase & Co. or its affiliates and agencies. Balances in certain retirement plan investment accounts, such as Money Purchase Pension and Profit Sharing Plans, do not qualify."
Not sure what that means tho. It makes me wonder if all kinds of investments just don't count as the balance. Hopefully it's not the case.
Based on my experience, the CSRs who handle secure message are likely just misinformed. I was told by a Chase Sapphire Rep on the phone that You Invest accounts most definitely do qualify.
Do you happen to know how one can confirm that the two accounts are actually "linked"?

yeahman
Posts: 194
Joined: Thu Mar 02, 2017 11:27 am

Re: You Invest by JP Morgan Chase

Post by yeahman » Fri Feb 01, 2019 2:15 am

Is there any reason for me not to consolidate checking, IRA, and taxable at Chase? Besides the $75 fee if I change my mind.

User avatar
SlowMovingInvestor
Posts: 1428
Joined: Sun Sep 11, 2016 11:27 am

Re: You Invest by JP Morgan Chase

Post by SlowMovingInvestor » Fri Feb 01, 2019 6:02 am

magicwaltz wrote:
Thu Jan 31, 2019 12:17 pm
SlowMovingInvestor wrote:
Thu Jan 31, 2019 12:02 pm
magicwaltz wrote:
Thu Jan 31, 2019 2:25 am

I've heard others have the same issue too. They opened Chase Sapphire Banking and deposited 75k, and transferred the funds to You Invest to buy VMMXX. They got charged $25 for not meeting the minimum balance requirement. And when they asked in the secure message, the rep replied:
"Qualifying personal investments include prior end-of-month balances for investment and annuity products offered by JPMorgan Chase & Co. or its affiliates and agencies. Balances in certain retirement plan investment accounts, such as Money Purchase Pension and Profit Sharing Plans, do not qualify."
Not sure what that means tho. It makes me wonder if all kinds of investments just don't count as the balance. Hopefully it's not the case.
Based on my experience, the CSRs who handle secure message are likely just misinformed. I was told by a Chase Sapphire Rep on the phone that You Invest accounts most definitely do qualify.
Do you happen to know how one can confirm that the two accounts are actually "linked"?
Probably need to call the Sapphire banking number

User avatar
SlowMovingInvestor
Posts: 1428
Joined: Sun Sep 11, 2016 11:27 am

Re: You Invest by JP Morgan Chase

Post by SlowMovingInvestor » Fri Feb 01, 2019 6:07 am

I bought some Vanguard money market funds mid Jan at You Invest.

I don't see any interest credited (should have been credited by now). A rough calcuation tells me I should have got $50+ in interest. I did get a very small amount (a few cents) from the sweep account.

Has anyone else held long enough to see an interest credit for an earlier month ? If so, when should I expect to see it ?

old_bean
Posts: 8
Joined: Thu Jul 05, 2018 2:36 pm

Re: You Invest by JP Morgan Chase

Post by old_bean » Fri Feb 01, 2019 9:55 am

SlowMovingInvestor wrote:
Fri Feb 01, 2019 6:07 am
I bought some Vanguard money market funds mid Jan at You Invest.

I don't see any interest credited (should have been credited by now). A rough calcuation tells me I should have got $50+ in interest. I did get a very small amount (a few cents) from the sweep account.

Has anyone else held long enough to see an interest credit for an earlier month ? If so, when should I expect to see it ?
I hold VMMXX (prime money market) at You Invest and my dividends have posted between the 1st and 3rd of the month

User avatar
SlowMovingInvestor
Posts: 1428
Joined: Sun Sep 11, 2016 11:27 am

Re: You Invest by JP Morgan Chase

Post by SlowMovingInvestor » Fri Feb 01, 2019 10:42 am

old_bean wrote:
Fri Feb 01, 2019 9:55 am
SlowMovingInvestor wrote:
Fri Feb 01, 2019 6:07 am
I bought some Vanguard money market funds mid Jan at You Invest.

I don't see any interest credited (should have been credited by now). A rough calcuation tells me I should have got $50+ in interest. I did get a very small amount (a few cents) from the sweep account.

Has anyone else held long enough to see an interest credit for an earlier month ? If so, when should I expect to see it ?
I hold VMMXX (prime money market) at You Invest and my dividends have posted between the 1st and 3rd of the month
Thanks ! I am tracking this closely because (as I mentioned before), I think they still have to work out the kinks in their brokerage platform. For that reason too, I've bought nothing other than Money Market Funds so far (because I'm not confident they can do lot and basis tracking flawlessly) -- I'm not even sure if they use Gainskeeper (which most other brokerages do).

It is possible their back end systems are more stable because they're using the same systems they used for JP Morgan Investment Accounts (which have been around for a while). One hopes so, anyway.

old_bean
Posts: 8
Joined: Thu Jul 05, 2018 2:36 pm

Re: You Invest by JP Morgan Chase

Post by old_bean » Fri Feb 01, 2019 11:13 am

SlowMovingInvestor wrote:
Fri Feb 01, 2019 10:42 am
It is possible their back end systems are more stable because they're using the same systems they used for JP Morgan Investment Accounts (which have been around for a while). One hopes so, anyway.
That was my assumption when signing up. Time will tell :D

02nz
Posts: 2567
Joined: Wed Feb 21, 2018 3:17 pm

Re: You Invest by JP Morgan Chase

Post by 02nz » Wed Feb 13, 2019 11:17 am

Adding to the earlier comments about partial transfers, which can't be done online: I went to the Chase branch on Friday with the form, had it notarized there. They didn't want to send it for me but did give me a prepaid UPS overnight label, so I sent it myself. It would've arrived in Chicago on Monday and the shares I specified for the transfer already show as deducted out of my Merrill Edge account today, although they don't show in You Invest yet, I imagine that'll be another day or two. So it's a little more work but very fast. EDIT: Shares show in You Invest as of Fri. All went super smoothly.

User avatar
SlowMovingInvestor
Posts: 1428
Joined: Sun Sep 11, 2016 11:27 am

Re: You Invest by JP Morgan Chase

Post by SlowMovingInvestor » Fri Mar 15, 2019 7:31 pm

Has anyone sucessfully obtained the 60K UR bonus for opening a Sapphire banking account and transferring $$ there ?

assyadh
Posts: 88
Joined: Tue Sep 18, 2018 12:44 pm

Re: You Invest by JP Morgan Chase

Post by assyadh » Fri Mar 15, 2019 8:20 pm

SlowMovingInvestor wrote:
Fri Mar 15, 2019 7:31 pm
Has anyone sucessfully obtained the 60K UR bonus for opening a Sapphire banking account and transferring $$ there ?
You need to keep to money for 90 days and then wait up to 45 days to see the points posted.

In my case the money has been sitting there for 30 days so still 60 days to go

MA405
Posts: 14
Joined: Sat Mar 18, 2017 4:40 pm

Re: You Invest by JP Morgan Chase

Post by MA405 » Sat Mar 16, 2019 12:52 am

SlowMovingInvestor wrote:
Fri Mar 15, 2019 7:31 pm
Has anyone sucessfully obtained the 60K UR bonus for opening a Sapphire banking account and transferring $$ there ?
My UR bonus points posted about a month ago. I did not open a new account, upgraded my existing checking to Sapphire. At same time opened Youinvest account and transferred some shares there to total >$75K.

02nz
Posts: 2567
Joined: Wed Feb 21, 2018 3:17 pm

Re: You Invest by JP Morgan Chase

Post by 02nz » Sun Mar 17, 2019 2:45 pm

I was just charged $25 for Sapphire Checking, which surprised me as I had around $100K in You invest every day except day 1 of the statement cycle (that's when my ETFs transferred in), which easily averaged out to more than $75K. Called and the rep said I was charged the fee because my average daily balance was around $40K. When I pointed out this was clearly impossible when I had $100K every day except one, she said they couldn't access the You Invest records and so couldn't do anything about it but refund $7 of the fee (!). I'll go into the branch this week to sort this out, but was surprised by this experience as Chase's customer service has been excellent in the past, at least for me.

assyadh
Posts: 88
Joined: Tue Sep 18, 2018 12:44 pm

Re: You Invest by JP Morgan Chase

Post by assyadh » Sun Mar 17, 2019 3:02 pm

02nz wrote:
Sun Mar 17, 2019 2:45 pm
I was just charged $25 for Sapphire Checking, which surprised me as I had around $100K in You invest every day except day 1 of the statement cycle (that's when my ETFs transferred in), which easily averaged out to more than $75K. Called and the rep said I was charged the fee because my average daily balance was around $40K. When I pointed out this was clearly impossible when I had $100K every day except one, she said they couldn't access the You Invest records and so couldn't do anything about it but refund $7 of the fee (!). I'll go into the branch this week to sort this out, but was surprised by this experience as Chase's customer service has been excellent in the past, at least for me.
I ran into the same issue (39k average) but they refunded me the 25$.

I made it clear that there is a flaw in thir process. Transferring shares takes at least a week so they should be a grâce period when you upgrade or open the account.

02nz
Posts: 2567
Joined: Wed Feb 21, 2018 3:17 pm

Re: You Invest by JP Morgan Chase

Post by 02nz » Sun Mar 17, 2019 3:15 pm

assyadh wrote:
Sun Mar 17, 2019 3:02 pm
02nz wrote:
Sun Mar 17, 2019 2:45 pm
I was just charged $25 for Sapphire Checking, which surprised me as I had around $100K in You invest every day except day 1 of the statement cycle (that's when my ETFs transferred in), which easily averaged out to more than $75K. Called and the rep said I was charged the fee because my average daily balance was around $40K. When I pointed out this was clearly impossible when I had $100K every day except one, she said they couldn't access the You Invest records and so couldn't do anything about it but refund $7 of the fee (!). I'll go into the branch this week to sort this out, but was surprised by this experience as Chase's customer service has been excellent in the past, at least for me.
I ran into the same issue (39k average) but they refunded me the 25$.

I made it clear that there is a flaw in thir process. Transferring shares takes at least a week so they should be a grâce period when you upgrade or open the account.
I agree, they should have a grace period of two or three months (I've seen that with other banks), but apparently Chase doesn't. They refunded the full $25 last month when I called in, but wouldn't budge this time. I'm sure the branch will sort this out when I go in with all documentation, but this is just ridiculous.

Mike14
Posts: 110
Joined: Sun Jun 29, 2014 9:43 pm

Re: You Invest by JP Morgan Chase

Post by Mike14 » Tue Apr 09, 2019 11:57 pm

02nz wrote:
Wed Feb 13, 2019 11:17 am
Adding to the earlier comments about partial transfers, which can't be done online
Do they not ask for the quantity when doing the transfer? Wondering if you could say "full transfer" but don't enter the full quantity in the form.

02nz
Posts: 2567
Joined: Wed Feb 21, 2018 3:17 pm

Re: You Invest by JP Morgan Chase

Post by 02nz » Wed Apr 10, 2019 10:33 am

Mike14 wrote:
Tue Apr 09, 2019 11:57 pm
02nz wrote:
Wed Feb 13, 2019 11:17 am
Adding to the earlier comments about partial transfers, which can't be done online
Do they not ask for the quantity when doing the transfer? Wondering if you could say "full transfer" but don't enter the full quantity in the form.
No, if you do a full transfer then they don't ask you for the quantities, the old institution is simply instructed to transfer everything over.

pre
Posts: 92
Joined: Mon Apr 04, 2011 2:14 am

Re: You Invest by JP Morgan Chase

Post by pre » Tue Apr 23, 2019 2:25 pm

Looking to take advantage of the Sapphire checking bonus offer and opened/approved for the checking account online without issue.

The You Invest account seems to be pending review, however, after completing the online application. Is this the case from others' experiences? Have opened numerous brokerages over the years, so was a bit surprised to see it still pending. Curious if all applications undergo manual review?

Hoping it won't be too challenging to locate the account transfer form. Reading a few folks' experiences, it sounds there are multiple ones out there

User avatar
DukeMeredith
Posts: 7
Joined: Sun Aug 19, 2018 11:03 pm
Location: Dallas, Texas

Re: You Invest by JP Morgan Chase

Post by DukeMeredith » Wed Apr 24, 2019 4:11 pm

pre wrote:
Tue Apr 23, 2019 2:25 pm
Looking to take advantage of the Sapphire checking bonus offer and opened/approved for the checking account online without issue.

The You Invest account seems to be pending review, however, after completing the online application. Is this the case from others' experiences? Have opened numerous brokerages over the years, so was a bit surprised to see it still pending. Curious if all applications undergo manual review?

Hoping it won't be too challenging to locate the account transfer form. Reading a few folks' experiences, it sounds there are multiple ones out there
I'm sure you have been approved by now, but the "pending review" was the case for me, too. It took about 6 hours after "applying" for the You Invest account to appear on my Chase homepage.

pre
Posts: 92
Joined: Mon Apr 04, 2011 2:14 am

Re: You Invest by JP Morgan Chase

Post by pre » Wed Apr 24, 2019 4:21 pm

DukeMeredith wrote:
Wed Apr 24, 2019 4:11 pm
pre wrote:
Tue Apr 23, 2019 2:25 pm
Looking to take advantage of the Sapphire checking bonus offer and opened/approved for the checking account online without issue.

The You Invest account seems to be pending review, however, after completing the online application. Is this the case from others' experiences? Have opened numerous brokerages over the years, so was a bit surprised to see it still pending. Curious if all applications undergo manual review?

Hoping it won't be too challenging to locate the account transfer form. Reading a few folks' experiences, it sounds there are multiple ones out there
I'm sure you have been approved by now, but the "pending review" was the case for me, too. It took about 6 hours after "applying" for the You Invest account to appear on my Chase homepage.
Thanks, I got an approval email at day's end.

Hoping my local branch can FedEx out the transfer form after notarizing. Glad to see them being able to handle full account transfers online, hopefully they're working on online partial transfers. The only broker that I've dealt with that required notarization was Capital One/ING Direct

uberdoc
Posts: 143
Joined: Sat Jan 20, 2018 4:37 pm

Re: You Invest by JP Morgan Chase

Post by uberdoc » Wed Apr 24, 2019 4:25 pm

Is there any fee for buying or selling vanguard money market funds on YouInvest?
Thanks.

User avatar
DukeMeredith
Posts: 7
Joined: Sun Aug 19, 2018 11:03 pm
Location: Dallas, Texas

Re: You Invest by JP Morgan Chase

Post by DukeMeredith » Wed Apr 24, 2019 4:48 pm

uberdoc wrote:
Wed Apr 24, 2019 4:25 pm
Is there any fee for buying or selling vanguard money market funds on YouInvest?
Thanks.
I have not been charged a fee when purchasing VMMXX on You Invest.

I have also noticed that I still have 100 free trades. So it appears the purchase of a money market mutual fund does not count toward the 100 free trades.

uberdoc
Posts: 143
Joined: Sat Jan 20, 2018 4:37 pm

Re: You Invest by JP Morgan Chase

Post by uberdoc » Wed Apr 24, 2019 4:53 pm

How about selling VMMXX and then transferring all cash out of you invest? Is there a fee for that?

pre
Posts: 92
Joined: Mon Apr 04, 2011 2:14 am

Re: You Invest by JP Morgan Chase

Post by pre » Thu Apr 25, 2019 2:50 pm

Have any folks had experience with Chase Private Client and JP Morgan Securities? They have a $1250 cash promotion going for $250k in assets for only 90 days, so I've been highly considering it.

https://www.doctorofcredit.com/chase-12 ... ate-client

I was initially looking to transfer in $75k assets in my new You Invest account, but the $1250 caught my eye.

This Chase Private Client offer excludes You Invest accounts, so one would have to transfer assets into JPM Securities' full service brokerage. Calling around, they charge $25-50 trading commissions and a $75 outgoing fee, with no annual management fees. I'd just be transferring some ETFs in kind and not conducting any trades.

confusedinvestor
Posts: 653
Joined: Thu Mar 15, 2012 11:04 am

Re: You Invest by JP Morgan Chase

Post by confusedinvestor » Thu Apr 25, 2019 4:58 pm

does this mean i have to go to a branch for 205K transfer with mim 6 month holding ?

You invest online shows on $625

pre wrote:
Thu Apr 25, 2019 2:50 pm
Have any folks had experience with Chase Private Client and JP Morgan Securities? They have a $1250 cash promotion going for $250k in assets for only 90 days, so I've been highly considering it.

https://www.doctorofcredit.com/chase-12 ... ate-client


classicindexer
Posts: 72
Joined: Tue Apr 09, 2019 10:43 am

Re: You Invest by JP Morgan Chase

Post by classicindexer » Thu Apr 25, 2019 9:57 pm

DukeMeredith wrote:
Wed Apr 24, 2019 4:48 pm
uberdoc wrote:
Wed Apr 24, 2019 4:25 pm
Is there any fee for buying or selling vanguard money market funds on YouInvest?
Thanks.
I have not been charged a fee when purchasing VMMXX on You Invest.

I have also noticed that I still have 100 free trades. So it appears the purchase of a money market mutual fund does not count toward the 100 free trades.
From what I’ve seen so far trading only VMMXX I believe that mutual funds are always traded free without a transaction fee (some funds may have a load fee). The free trades are for stocks and ETFs.

classicindexer
Posts: 72
Joined: Tue Apr 09, 2019 10:43 am

Re: You Invest by JP Morgan Chase

Post by classicindexer » Thu Apr 25, 2019 10:01 pm

uberdoc wrote:
Wed Apr 24, 2019 4:53 pm
How about selling VMMXX and then transferring all cash out of you invest? Is there a fee for that?
I was told that there is no transaction fee to sell mutual funds and have not seen one yet when I sold some VMMXX and transferred it back to my Chase checking account.

Now if you close the entire You Invest account without liquidating mutual funds to cash first there might be an account transfer fee if you’re trying to transfer funds to another brokerage. Check out the fee schedule https://www.chase.com/content/dam/chase ... hedule.pdf

smectym
Posts: 615
Joined: Thu May 26, 2011 5:07 pm

Re: You Invest by JP Morgan Chase

Post by smectym » Sat Apr 27, 2019 12:08 pm

toto wrote:
Tue Oct 30, 2018 10:09 am
Here is the list of funds available on the platform: https://am.jpmorgan.com/blob-pbstudio/1 ... d_list.pdf.

Most, if not all, Vanguard money market funds are available (Vanguard Prime Money Market Inv, Vanguard Federal Money Market Inv, Vanguard Municipal Money Market Inv, Vanguard PA Municipal Money Market Inv, ...).
I did buy VMSXX (muni market) on You Invest.
The cited link is dead. Is there an updated link available? Thanks

classicindexer
Posts: 72
Joined: Tue Apr 09, 2019 10:43 am

Re: You Invest by JP Morgan Chase

Post by classicindexer » Sat Apr 27, 2019 3:01 pm

smectym wrote:
Sat Apr 27, 2019 12:08 pm
toto wrote:
Tue Oct 30, 2018 10:09 am
Here is the list of funds available on the platform: https://am.jpmorgan.com/blob-pbstudio/1 ... d_list.pdf.

Most, if not all, Vanguard money market funds are available (Vanguard Prime Money Market Inv, Vanguard Federal Money Market Inv, Vanguard Municipal Money Market Inv, Vanguard PA Municipal Money Market Inv, ...).
I did buy VMSXX (muni market) on You Invest.
The cited link is dead. Is there an updated link available? Thanks
Not that I’m aware of. When I called You Invest customer service a few weeks ago they said there is no public list at the moment. The rep did offer to lookup mutual funds by ticker to see what the minimum initial investment is and if they can be traded with no fees.

uptava
Posts: 3
Joined: Sun Mar 24, 2019 8:17 am

Re: You Invest by JP Morgan Chase

Post by uptava » Mon May 13, 2019 1:09 pm

I opened a Chase you invest account just to see if they allow leveraged ETFs. They do not allow leveraged etf like UPRO,SPXL,TMF. :annoyed
so it seems they are nanny broker like vanguard. I am closing account and moving to Firstrade.

uptava
Posts: 3
Joined: Sun Mar 24, 2019 8:17 am

Re: You Invest by JP Morgan Chase

Post by uptava » Mon May 13, 2019 1:24 pm

Can any one confirm if merrill edge allows buying leveraged etf. I am trying to consolidate all my accounts (roth, taxable) in one place. I also have a small portfolio of Hedgefundie strategy (upro/tmf).

chicagoan23
Posts: 356
Joined: Thu Jan 29, 2015 4:34 pm

Re: You Invest by JP Morgan Chase

Post by chicagoan23 » Mon May 13, 2019 4:08 pm

uptava wrote:
Mon May 13, 2019 1:24 pm
Can any one confirm if merrill edge allows buying leveraged etf. I am trying to consolidate all my accounts (roth, taxable) in one place. I also have a small portfolio of Hedgefundie strategy (upro/tmf).
I buy and sell SPXL and SPXS in Merrill Edge all the time, with no commission. It allows me to satisfy my market timing urgings without doing any real damage.

Topic Author
Dead Man Walking
Posts: 890
Joined: Wed Nov 07, 2007 6:51 pm

Re: You Invest by JP Morgan Chase

Post by Dead Man Walking » Mon May 13, 2019 11:36 pm

classicindexer wrote:
Sat Apr 27, 2019 3:01 pm
smectym wrote:
Sat Apr 27, 2019 12:08 pm
toto wrote:
Tue Oct 30, 2018 10:09 am
Here is the list of funds available on the platform: https://am.jpmorgan.com/blob-pbstudio/1 ... d_list.pdf.

Most, if not all, Vanguard money market funds are available (Vanguard Prime Money Market Inv, Vanguard Federal Money Market Inv, Vanguard Municipal Money Market Inv, Vanguard PA Municipal Money Market Inv, ...).
I did buy VMSXX (muni market) on You Invest.
The cited link is dead. Is there an updated link available? Thanks
Not that I’m aware of. When I called You Invest customer service a few weeks ago they said there is no public list at the moment. The rep did offer to lookup mutual funds by ticker to see what the minimum initial investment is and if they can be traded with no fees.
The link no longer functions; however, if you select Investments on the platform, then select Find investments, and then select Mutual funds, you will be able to select several filters. Select Mutual fund providers and scroll down to Vanguard or another provider and see a list of available mutual funds. There are 141 Vanguard funds listed; however, several index funds have both investor and admiral share classes listed. As most Vanguard investors know, Vanguard recently eliminated investor shares and included them in the admiral share class. Consequently, be sure to select admiral shares if you choose to invest in one of the affected index funds.

I didn’t examine all of the providers of the 3,200 plus mutual funds. The platform offers a good selection of index and factor based mutual funds from BlackRock, Fidelity, Schwab, and Vanguard. I purchased Vanguard Global Minimum Volatility Fund with no problem. Of course, all ETFs are available.

Since I have a Chase Premier account, I like the convenience of transferring cash from my bank accounts to my YouInvest account from the Chase website. The platform has been criticized for offering limited investment services. Since I use independent sources to research funds, this isn’t a problem for me. The platform functions well for buying and selling funds. I’ve never had problems with Vanguard’s platform. I’m simply diversifying brokerages per advice received on this forum.

DMW

Cyanide123
Posts: 195
Joined: Sun May 05, 2019 9:14 am

Re: You Invest by JP Morgan Chase

Post by Cyanide123 » Tue May 14, 2019 1:07 pm

I talked to a customer service rep for Chase you invest. They told me that they have a periodic investment set up that recently started.

Does anyone else see this on the you invest "trade" page? Apparently next to order status there should be an option for periodic investments. I don't see it on my account, but the guy said it may be because my account is very new (set up a couple days ago).

classicindexer
Posts: 72
Joined: Tue Apr 09, 2019 10:43 am

Re: You Invest by JP Morgan Chase

Post by classicindexer » Tue May 14, 2019 3:46 pm

Cyanide123 wrote:
Tue May 14, 2019 1:07 pm
I talked to a customer service rep for Chase you invest. They told me that they have a periodic investment set up that recently started.

Does anyone else see this on the you invest "trade" page? Apparently next to order status there should be an option for periodic investments. I don't see it on my account, but the guy said it may be because my account is very new (set up a couple days ago).
I do not. My account is a taxable brokerage and I opened it about a month or so ago.

Startled Cat
Posts: 479
Joined: Thu Apr 03, 2008 8:54 pm

Re: You Invest by JP Morgan Chase

Post by Startled Cat » Wed May 15, 2019 10:31 am

You Invest wouldn't let me place a buy order for an ETF when I didn't have cash available, even though I had an open sell order on a money market fund. I thought this was supposed to be possible even in a cash account, because mutual funds settle on T+1 and stocks/ETFs settle on T+2.

It's a little ridiculous in my opinion that You Invest doesn't offer margin (as far as I can tell). In addition to issues like the above, cash accounts require you to be careful about a lot of things in order to avoid being penalized for some anachronistic settlement rules violation. For example, I once accidentally bought shares in the wrong quantities in a cash account, and then did a quick rebalance to solve the problem. The brokerage was unhappy (as they are obliged to be by the regulations) and put a trading restriction on my accounts. I am used to working with margin accounts where this kind of thing is not an issue, so at the time it didn't occur to me that rebalancing before settlement was prohibited.

Post Reply