Chase You Invest - "Invest and Forget"

Have a question about your personal investments? No matter how simple or complex, you can ask it here.
Post Reply
Topic Author
msmtr
Posts: 4
Joined: Sat Mar 14, 2020 8:26 pm

Chase You Invest - "Invest and Forget"

Post by msmtr » Sun May 31, 2020 3:38 pm

Hi Everyone,

I am all new in investing - so far I've been on savings accounts educating myself before making the move to investing. I have decided to go on low-cost index funds (converted boglehead here!) for the stock portion of my portfolio and keep buying and holding unless something big requires me to change strategy.

I have my checkings, savings and credit card accounts all at Chase. I will invest using cash that is sitting in my savings account. I am a Chase Private client, which currently gives me no perks other than free museum admission with Chase Arts & Culture card (which is nice to have, but not essential).

All index funds I am considering to invest are available at the You Invest platform. That would be the easiest way for me to transfer funds from savings to this account (already open and funded with a minimum amount). However, it seems You Invest is not a preference in this forum.

The question I would appreciate your opinion is: what are the disadvantages you see of trading with You Invest compared to other brokerage accounts? The answer may be obvious to experienced investors, but not clear to the newbie here!

Thanks in advance to all!

User avatar
arcticpineapplecorp.
Posts: 5245
Joined: Tue Mar 06, 2012 9:22 pm

Re: Chase You Invest - "Invest and Forget"

Post by arcticpineapplecorp. » Sun May 31, 2020 3:48 pm

welcome to the group.

if you want to transfer to another brokerage it looks like it costs $75 to transfer and $75 to transfer a retirement account as well.

https://www.chase.com/content/dam/chase ... hedule.pdf

there's a $10 per position per month safekeeping fee (doesn't apply to managed accounts). Not sure if it applies to mutual funds or just stocks?
Please note that fees and other information are subject to change.
might want to read more here. someone asked similar questions about chase you invest in 2018. let the search bar be your friend:

viewtopic.php?t=260527
"May you live as long as you want and never want as long as you live" -- Irish Blessing | "Invest we must" -- Jack Bogle

LookinAround
Posts: 238
Joined: Tue Mar 27, 2018 5:41 am
Location: Chicagoland

Re: Chase You Invest - "Invest and Forget"

Post by LookinAround » Sun May 31, 2020 3:57 pm

Two things

One, Chase is charging a .35% management fee. Vanguarad is .30%

Two, I'd check the Expense Ration of their funds and compare to others. Including whether any 12b-1 fees

retired@50
Posts: 3044
Joined: Tue Oct 01, 2019 2:36 pm
Location: Living in the U.S.A.

Re: Chase You Invest - "Invest and Forget"

Post by retired@50 » Sun May 31, 2020 6:07 pm

I'd suggest you use Vanguard for investing purposes. They have an extremely wide variety of low-expense ratio mutual funds and ETFs that are very well suited for an aspiring Boglehead.

On this page, they discuss account fees, and also teach you how to AVOID the fee.
https://investor.vanguard.com/investing/account-fees

On this page you can read about the unique structure of Vanguard.
https://investor.vanguard.com/why-vanguard

Read. Learn. Then decide.

Regards,
This is one person's opinion. Nothing more.

Topic Author
msmtr
Posts: 4
Joined: Sat Mar 14, 2020 8:26 pm

Re: Chase You Invest - "Invest and Forget"

Post by msmtr » Sun May 31, 2020 7:23 pm

Fantastic! Thank you all for your kind responses. Will do that NOW.

Kind regards and stay safe!

02nz
Posts: 4752
Joined: Wed Feb 21, 2018 3:17 pm

Re: Chase You Invest - "Invest and Forget"

Post by 02nz » Sun May 31, 2020 7:40 pm

LookinAround wrote:
Sun May 31, 2020 3:57 pm
Two things

One, Chase is charging a .35% management fee. Vanguarad is .30%

Two, I'd check the Expense Ration of their funds and compare to others. Including whether any 12b-1 fees
Chase charges that only if you use their "Portfolios" service. The standard You Invest product does not charge a management fee, and ETF/stock trades are free (more trades than I can use anyway).

As for mutual fund fees - no reason to pay those at Chase or anywhere else, given free trades on ETFs.

OP, my experience with Chase You Invest has been fine. It's probably more bare-bones than Schwab, Fidelity, or even Merrill Edge, but for what most Bogleheads do (buy and hold index funds), it's more than fine. The main complaint I've heard has to do with limitations on how cost basis is recorded - I'm hazy on the specifics, so I suggest you use the search box.

cheesepep
Posts: 891
Joined: Wed Feb 17, 2010 10:58 pm

Re: Chase You Invest - "Invest and Forget"

Post by cheesepep » Sun May 31, 2020 9:12 pm

Was a YouInvest client for a bit. Ok for what you get. A bit bare bones for me. Cannot even configure the portfolio to display what you want. I got the $2,500 signing bonus and I was out to Schwab. But certainly convenient for Chase customers (of which I am one).

student
Posts: 4881
Joined: Fri Apr 03, 2015 6:58 am

Re: Chase You Invest - "Invest and Forget"

Post by student » Sun May 31, 2020 10:22 pm

It seems that there are some misinformation here about You Invest. I have an account with them. There are no fees. You can buy most Vanguard Admiral Funds with no fees.

student
Posts: 4881
Joined: Fri Apr 03, 2015 6:58 am

Re: Chase You Invest - "Invest and Forget"

Post by student » Sun May 31, 2020 10:22 pm

02nz wrote:
Sun May 31, 2020 7:40 pm
LookinAround wrote:
Sun May 31, 2020 3:57 pm
Two things

One, Chase is charging a .35% management fee. Vanguarad is .30%

Two, I'd check the Expense Ration of their funds and compare to others. Including whether any 12b-1 fees
Chase charges that only if you use their "Portfolios" service. The standard You Invest product does not charge a management fee, and ETF/stock trades are free (more trades than I can use anyway).

As for mutual fund fees - no reason to pay those at Chase or anywhere else, given free trades on ETFs.

OP, my experience with Chase You Invest has been fine. It's probably more bare-bones than Schwab, Fidelity, or even Merrill Edge, but for what most Bogleheads do (buy and hold index funds), it's more than fine. The main complaint I've heard has to do with limitations on how cost basis is recorded - I'm hazy on the specifics, so I suggest you use the search box.
Agreed.

Dead Man Walking
Posts: 966
Joined: Wed Nov 07, 2007 6:51 pm

Re: Chase You Invest - "Invest and Forget"

Post by Dead Man Walking » Mon Jun 01, 2020 1:12 pm

I have a YouInvest account because it is simpler to buy funds or ETFs using funds from my Chase savings account. The YouInvest platform is a bare bones platform similar to Vanguard’s. If you are building a three fund portfolio using Vanguard index funds or ETFs and are comfortable having most of your assets with one provider, I can’t see any reason not to use YouInvest. I have my tax-sheltered accounts at Vanguard and use YouInvest for taxable.

DMW

Post Reply