You Invest from JP Morgan [free trades offer]

Discuss all general (i.e. non-personal) investing questions and issues, investing news, and theory.
AlohaJoe
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Re: You Invest from JP Morgan

Post by AlohaJoe » Wed Aug 22, 2018 8:44 am

Freefun wrote:
Tue Aug 21, 2018 11:13 am
I’m waiting for a broker that will pay me to trade stocks (and have negative ER for funds).
This already exists. You can get paid at Interactive Brokers for making (certain kinds of) trades. If you "add liquidity" then they share the exchange rebate with you, which can result in getting paid to trade.

Dean.Collins
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Re: You Invest from JP Morgan

Post by Dean.Collins » Wed Aug 22, 2018 11:54 am

student wrote:
Tue Aug 21, 2018 7:49 am
Interesting but I think I will stick with BoA/Merrill Edge.
Isnt the software going to be the deciding factor at the end of the day?

eg I've tried etrade, fidelity, scwab and at the end of the day I use TD Ameritrade because of my preference for their Think Or Swim software over the other 3.

This said....would good if TOS make a similar offer of 100 free trades a year :) eg that's $500 per year free money just for maintaining about $10k invested with them.....

student
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Re: You Invest from JP Morgan

Post by student » Wed Aug 22, 2018 4:06 pm

Dean.Collins wrote:
Wed Aug 22, 2018 11:54 am
student wrote:
Tue Aug 21, 2018 7:49 am
Interesting but I think I will stick with BoA/Merrill Edge.
Isnt the software going to be the deciding factor at the end of the day?

eg I've tried etrade, fidelity, scwab and at the end of the day I use TD Ameritrade because of my preference for their Think Or Swim software over the other 3.

This said....would good if TOS make a similar offer of 100 free trades a year :) eg that's $500 per year free money just for maintaining about $10k invested with them.....
I seldom trade. I like BoA/Merrill Edge because of the preferred rewards on its credit cards.

ValueInvestor99
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Re: You Invest from JP Morgan [free trades offer]

Post by ValueInvestor99 » Wed Aug 22, 2018 4:07 pm

How much does JP Morgan charge for option transactions?

SlowMovingInvestor
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Re: You Invest from JP Morgan [free trades offer]

Post by SlowMovingInvestor » Wed Aug 22, 2018 5:25 pm

May be related if JPM wants to appeal to DIYers ?

https://www.bloomberg.com/news/articles ... management

WanderingDoc
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Re: You Invest from JP Morgan [free trades offer]

Post by WanderingDoc » Wed Aug 22, 2018 8:24 pm

Doesn't Interactive Brokers and Robinhood also offer free trades? What's the big deal.
Don't wait to buy real estate. Buy real estate, and wait. | Rent where you live, buy where others pay your mortgage for you.

G-Force
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Re: You Invest from JP Morgan [free trades offer]

Post by G-Force » Sun Aug 26, 2018 4:47 pm


notanumber
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Re: You Invest from JP Morgan [free trades offer]

Post by notanumber » Mon Aug 27, 2018 2:06 pm

Is it possible to convert an existing Chase self-directed brokerage account to You Invest, or is opening a new account required?

G-Force
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Location: Florida

Re: You Invest from JP Morgan [free trades offer]

Post by G-Force » Mon Aug 27, 2018 9:15 pm

All the self directed accounts were automatically converted. I had the new pricing (free trades) on all 3 of my accounts today.

notanumber
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Re: You Invest from JP Morgan [free trades offer]

Post by notanumber » Mon Aug 27, 2018 11:54 pm

Thanks! I just logged in and noticed that my account was automatically converted as well.

Iridium
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Re: Discount broker stocks dive on news J.P. Morgan Chase to offer free trading

Post by Iridium » Tue Aug 28, 2018 1:56 am

ofckrupke wrote:
Tue Aug 21, 2018 10:34 am
It is probably more about retaining/growing than winning accounts, but this won't retain us unless there is also an umbrella provision wherein non-banking assets custodied at JPM count (with some nonzero multiplier anyway) toward fee waiver thresholds on the Premier banking products; otherwise, we'll be moving the safe-deposit box contents across the street to BofA next time the Merrill Edge bonus gets turned up to eleven.
Investments count dollar for dollar toward fee waiver on the Sapphire checking account (what replaces their old Premier checking account):
https://accounts.chase.com/sapphire/brand wrote: 7 There is a $25 Monthly Service Fee for Chase Sapphire Checking OR $0 when you have an average beginning day balance of $75,000 or more in any combination of this account and linked qualifying deposits/investments.
The Sapphire Checking+You Invest offering is similar enough to BoA's Preferred Rewards, I'm sort of surprised that Chase hasn't done more to position this directly against it (I understand why Chase can't give CC reward bonuses on their already generous cards, but I'm not sure why they didn't toss in a free safe deposit box and loan discounts).
BrandonBogle wrote:
Wed Aug 22, 2018 8:40 am
jeffyscott wrote:
Tue Aug 21, 2018 4:24 pm
dual wrote:
Tue Aug 21, 2018 12:43 pm
Also, I think they can lend your shares of VT and charge the short-seller interest.
I have no idea how securities lending works, but doesn't Vanguard engage in lending of the stocks in VT? Can they do that while another entity simultaneously lends the shares of VT?
<Snip>
Vanguard or Fidelity as broker can lend shares of the fund (not the individual stocks). I don't know if either do this, but if Fidelity does, I suspect they keep the profits (since they cannot put profits into Vanguard's fund).
<Snip>
Note that brokers are only allowed to lend securities in accounts that are currently borrowing margin. It seems unlikely that securities lending revenue is driving this.

ofckrupke
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Re: Discount broker stocks dive on news J.P. Morgan Chase to offer free trading

Post by ofckrupke » Tue Aug 28, 2018 10:28 am

Iridium wrote:
Tue Aug 28, 2018 1:56 am
ofckrupke wrote:
Tue Aug 21, 2018 10:34 am
It is probably more about retaining/growing than winning accounts, but this won't retain us unless there is also an umbrella provision wherein non-banking assets custodied at JPM count (with some nonzero multiplier anyway) toward fee waiver thresholds on the Premier banking products; otherwise, we'll be moving the safe-deposit box contents across the street to BofA next time the Merrill Edge bonus gets turned up to eleven.
Investments count dollar for dollar toward fee waiver on the Sapphire checking account (what replaces their old Premier checking account):
https://accounts.chase.com/sapphire/brand wrote: 7 There is a $25 Monthly Service Fee for Chase Sapphire Checking OR $0 when you have an average beginning day balance of $75,000 or more in any combination of this account and linked qualifying deposits/investments.
The Sapphire Checking+You Invest offering is similar enough to BoA's Preferred Rewards, I'm sort of surprised that Chase hasn't done more to position this directly against it (I understand why Chase can't give CC reward bonuses on their already generous cards, but I'm not sure why they didn't toss in a free safe deposit box and loan discounts).
Coupla things.
1) Premier Checking still exists as of 8/26 when You Invest went live, and it still includes small safe deposit box (availability permitting) and fee waiver at $15k. The Sapphire tier seems to add unlimited free/reimbursed worldwide ATM withdrawals and waiver of the fee they charge lower tiers on non-US-currency ATM transactions, fees waived for stop payments and incoming wire transfers, and fee forbearance on a limited number of overdraws annually.

2) It's still not clear, from the footnote language in the account descriptions OR from any of the FAQs I found, whether non-JPM-Branded investment products held at a JPM Securities account actually count toward the 15k/75k. [In the same way that only Vanguard funds and ETFs held in one's Vanguard accounts count toward Flagship status.] To use the terminology of the identical fine print in the footnotes of both Premier and Sapphire account descriptions, does being held in a JPMS account cause e.g., a US treasury note to be considered a "JPM Investment Product"? For lack of accountability, I was not really interested in engaging a Chase/JPM chatbot to clarify this point.

accrue
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Re: You Invest from JP Morgan [free trades offer]

Post by accrue » Mon Sep 10, 2018 7:43 pm

Hi everyone. I currently have >$250k in Vanguard across several select admiral MFs. Chase called me to tell me about "You Invest". They claim that I can move my VG MFs over through an in-kind transfer, thus allowing me to retain my Chase Private Client status without incurring any additional fees.

This sounded a bit too good to be true--can someone confirm this? I asked the rep how Chase makes money and he said it doesn't; their strategy is to get people onto the platform for the relationship and then hope I'll one day buy other products.

So I guess my question is, is there any reason why I wouldn't move all my VG holdings to Chase You Invest through in-kind?

And does anyone know if VG charges a fee for external in-kind transfers?

Thanks!

gougou
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Re: Discount broker stocks dive on news J.P. Morgan Chase to offer free trading

Post by gougou » Mon Sep 10, 2018 8:00 pm

msk wrote:
Tue Aug 21, 2018 9:29 am
So I deposit $1 million, purchase VT and.... Nothing for 30 years. How do they make money out of me as a BH?
They make money selling your order flows to market makers/hedge funds. So they won't make much money from you. But if buy/sell/rebalance every once awhile then they make a bit of money from you. The larger your orders are, the more money they make.

Not everyone is a BH. Most people will trade more because it is 'free' (but you get scraped by market makers).

arf30
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Re: You Invest from JP Morgan [free trades offer]

Post by arf30 » Mon Sep 10, 2018 8:40 pm

How's Chase website and mobile apps for investing compare to discount brokers like Vanguard/Fidelity/Schwab? I use all 3 currently and none of them are great.

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Earl Lemongrab
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Re: You Invest from JP Morgan [free trades offer]

Post by Earl Lemongrab » Tue Sep 11, 2018 12:41 pm

accrue wrote:
Mon Sep 10, 2018 7:43 pm
Hi everyone. I currently have >$250k in Vanguard across several select admiral MFs. Chase called me to tell me about "You Invest". They claim that I can move my VG MFs over through an in-kind transfer, thus allowing me to retain my Chase Private Client status without incurring any additional fees.
I wouldn't move anywhere without a cash bonus, but traditional mutual funds can be trickier. That's one reason why I use ETFs. You can move them anywhere.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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BrandonBogle
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Re: You Invest from JP Morgan [free trades offer]

Post by BrandonBogle » Wed Sep 12, 2018 9:44 am

accrue wrote:
Mon Sep 10, 2018 7:43 pm
And does anyone know if VG charges a fee for external in-kind transfers?
VG does not.

2pedals
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Re: You Invest from JP Morgan [free trades offer]

Post by 2pedals » Thu Sep 13, 2018 8:58 pm

Bumping this thread

Chase announced a new incentive today.

see doctor of credit comments
https://www.doctorofcredit.com/coming-o ... -deposits/

Not sure how much 60,000 ultimate awards are worth but could be worth the hassle factor.
https://thepointsguy.com/2014/05/what-w ... s-get-you/

tj
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Re: You Invest from JP Morgan [free trades offer]

Post by tj » Thu Sep 13, 2018 9:11 pm

2pedals wrote:
Thu Sep 13, 2018 8:58 pm
Bumping this thread

Chase announced a new incentive today.

see doctor of credit comments
https://www.doctorofcredit.com/coming-o ... -deposits/

Not sure how much 60,000 ultimate awards are worth but could be worth the hassle factor.
https://thepointsguy.com/2014/05/what-w ... s-get-you/

That would be $600 if redeemed for cash. $600 bonus for $75k is better than any of the other offers out there.

sniper
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Re: You Invest from JP Morgan [free trades offer]

Post by sniper » Thu Sep 13, 2018 9:19 pm

Could someone that has their account converted to this new pricing platform let me know if there is access to JP Morgan stock research? They are not quite clear as they reference JP Morgan tools, but I don''t know what that means. But once I learn a bit more about this bonus, I am tempted to open an account with them. Thanks.

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