When it comes to fintech and the countless investment options available to consumers today, choosing the best platforms for your portfolio can be quite challenging. Since there are so many different possibilities, it typically comes down to two main factors, potential for higher gains and low-cost trades.
You Invest from J.P. Morgan, also referred to as Chase You Invest in some circles, offers the best of all worlds by minimizing fees and maximizing value for consumers. Some sources have proclaimed that Chase You Invest is the perfect platform for younger investors who want to save for major life events like marriage, having a child, and saving for retirement because the low fees and $0 account minimums reduce barriers to getting involved in investing.
Are you ready to start saving money on trades while maximizing your investment gains? Here’s what you should know about Chase You Invest before getting started.
Chase You Invest Review
Save Money on Trades
Arguably the greatest benefit of Chase You Invest is its introductory offer of 100 commission-free stock and ETF trades with $0 account minimums in your first year. After this period, you’ll pay just $2.95 per trade, which is still considerably less than many other online investing platforms. Compare this pricing to other costs and fees associated with rep-assisted trades, which cost $25 per stock/ETF trade and $1.00 per bond.
For existing Chase Premier Plus Checking clients, you’ll get 100 commission-free trades every year, while Chase Private Client, Chase Sapphire Banking, and J.P. Morgan Private Bank clients get access to $0 trades at all times.
You Invest initially started as a self-managed portfolio, but starting in 2019, Chase will also offer portfolio management services for an additional fee. In the meantime, you get access to thousands of securities, useful tools, an online account and mobile app, and free educational resources from J.P. Morgan.
You Invest is comprised of three different types of accounts including standard brokerage, traditional IRA, and Roth IRA. This way, you can save money for major life events while simultaneously planning and saving for retirement with the same investment platform.
Diversify Your Investments
One of You Invest’s most outstanding features is its Portfolio Builder tool, which is available to anyone with a minimum of $5,000 invested in their Chase account. This feature emphasizes appropriate asset allocation by asking you a series of questions to determine important factors such as your investment goals, target time frames, and tolerance for risk. In this program, you’ll be able to compare different portfolio allocation amounts and risk measures with the help of the patented Morgan Asset Projection System (MAPS).
You can choose stocks and ETfs from a variety of asset classes in the Portfolio Builder, including domestic/international equities, commodities, and core fixed income. What separates the Portfolio Builder from its competitors is its comparison tool, which lets users compare up to five securities at a time.
Even if you go outside the parameters of your target allocation amounts, You Invest will simply alert you of this shift instead of preventing you from making adjustments. Your freedom to invest on your own terms is paramount to J.P. Morgan & Chase.
Should You Sign Up for You Invest?
Although You Invest may seem somewhat limited in comparison to some other major online investment platforms, the low-cost trades and Portfolio Builder system alone are enough to persuade many investors. It’s pretty hard to beat 100 free trades in your first year of opening the account, which means you could save thousands of dollars with a You Invest account for as long as you keep it open and continue depositing more funds into it.