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Started By
Message
JP Morgan Investment
Posted on 2/15/23 at 10:01 am
Posted on 2/15/23 at 10:01 am
Anyone currently use their managed account services? Been with another firm for years and thinking about making a move..Fees are actually a bit less with JP and they have local advisors, compared to my current firm.
TIA
TIA
4
Posted on 2/15/23 at 10:05 am to Ashtray
Out of curiosity what is your current firm doing for you that you couldn't do yourself? And what kind of returns are you seeing?
Posted on 2/15/23 at 10:15 am to Sterling Archer
Honestly, I dont have the time put in tracking, making moves, etc., so, I'm ok with paying someone to actively manage my account. (and while I consider myself to be fairly knowledgeable investor, I'm certainly no expert) 1 year performance -9%, YTD +6
Lately, they seem to spend less and less time on reviews, etc. Not sure if its a labor shortage or what, but thats their issue
Lately, they seem to spend less and less time on reviews, etc. Not sure if its a labor shortage or what, but thats their issue
Posted on 2/15/23 at 10:45 am to Ashtray
Ok I get that. If they are just picking stocks for you then I say you probably don't need them. Put your money in a Vanguard ETF and just forget about it. I'm sure your advisor is charging you a pretty penny.
Posted on 2/15/23 at 11:02 am to Sterling Archer
I agree. Fund or ETF which someone is already managing. Or SP500 index. Been buying up a lot of SPLG lately.
Posted on 2/15/23 at 12:16 pm to Ashtray
My impression Is there is a lot of churn amongst these advisors so one has to frequently re-educate people to their needs. The advisors will always recommend the investment of the day that make them the most money.
Index fund and t-bills if you do not want to pick stocks yourself.
Index fund and t-bills if you do not want to pick stocks yourself.
Posted on 2/15/23 at 12:42 pm to Ashtray
What about one of these AI/robotic products
Schwab has one that basically buys a few diverse ETFs and just auto adjust balances occasionally
Schwab has one that basically buys a few diverse ETFs and just auto adjust balances occasionally
Posted on 2/15/23 at 12:57 pm to thelawnwranglers
Dont disagree with a lot of whats being said and I do have accounts with ETFs and specific stocks that I self manage but just looking for anyone with experience using JPMorgan managed services; bad or good. I personally like to compare what I'm doing vs. what these advisory services do/offer. thanks guys
Posted on 2/15/23 at 2:33 pm to Ashtray
Unfortunately for your purposes this is a mostly do-it-yourselfer board, so most of the opinions on full service firms and advisors should be taken with a grain of salt.
As for your question, I can’t speak for JPMorgan specifically, but hopefully you’re getting proactive financial advice from whatever firm you choose. Most places I see are using ETFs and individual bonds these days anyway, so it’s a lot more about the financial planning than it is investment selection.
As for your question, I can’t speak for JPMorgan specifically, but hopefully you’re getting proactive financial advice from whatever firm you choose. Most places I see are using ETFs and individual bonds these days anyway, so it’s a lot more about the financial planning than it is investment selection.
Posted on 2/15/23 at 2:51 pm to slackster
quote:
so it’s a lot more about the financial planning than it is investment selection
totally agree, so perhaps my inquiry was not worded correctly.
Posted on 2/15/23 at 4:46 pm to Ashtray
I can tell you from experience it’s much more advisor specific and much less firm specific. If you’re truly “shopping” other firms, look around and visit with a few. I wouldn’t let them know you’re shopping, so see how you’re treated and decide accordingly.
Posted on 2/15/23 at 6:45 pm to I B Freeman
quote:If you are talking advisors at discount brokers, There is some churn. Mainly because, by-and-large, folks are handling their own investments at those firms.
My impression Is there is a lot of churn amongst these advisors
Full service ... JP, UBS, GS ... not so much.
In our Schwab, TDA, and Fidelity accounts, we've had several different contacts over time. Only 1 of those has been in place >4-5yrs. With our full service accounts, there has been little or no transition for at least 15yrs.
Posted on 2/15/23 at 6:59 pm to slackster
quote:Indeed.
it’s much more advisor specific and much less firm specific. If you’re truly “shopping” other firms, look around and visit with a few. I wouldn’t let them know you’re shopping, so see how you’re treated and decide accordingly.
Relationship with, and confidence in, an individual advisory team is paramount, but in terms of firms:
quote:
This post was edited on 2/16/23 at 3:55 pm
Posted on 2/15/23 at 7:59 pm to NC_Tigah
An acquaintance of mine went with Fisher Investments. I couldn’t tell you the first thing about them (other than Ken Fisher’s boo-boo a couple of years ago). But they’re apparently meeting his needs/desires.
Posted on 2/15/23 at 8:01 pm to NC_Tigah
quote:
In our Schwab, TDA, and Fidelity accounts, we've had several different contacts over time.
At TDA, I’ve had 5 in 7 years. I don’t even bother trying to remember their names now.
Posted on 2/15/23 at 9:15 pm to Ashtray
Going with a full service firm, you better be getting a lot of financial planning advice and hand holding to justify the cost.
When the market drops and you are freaking out, you can’t call an ETF and ask then to talk you off of the ledge.
When the market drops and you are freaking out, you can’t call an ETF and ask then to talk you off of the ledge.
This post was edited on 2/15/23 at 9:16 pm
Posted on 2/15/23 at 9:34 pm to Jag_Warrior
quote:
An acquaintance of mine went with Fisher Investments. I couldn’t tell you the first thing about them (other than Ken Fisher’s boo-boo a couple of years ago). But they’re apparently meeting his needs/desires.
Their fees are structured where they do better when you do better.
Probably one of the best lines in the industry.
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