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You Invest Portfolios by J.P. Morgan Review – Robo Advisor Service from Chase

You Invest Portfolios is a proprietary robo advisor by J.P. Morgan Chase. It is an easy and automatic way to invest with automatic portfolio rebalancing.
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Thanks to the growing popularity of robo-advisor services, millions of Americans realize that investing isn’t the same as active trading. You don’t need to give a broker buy-and-sell orders over the phone to grow your wealth from the stock market. In fact, with a robo advisor, you can take a completely hands-off, long-term approach to investing. Sit back, relax, and let the computer algorithms handle your portfolio.

You Invest Portfolios by J.P. Morgan is a robo advisor that lets customers “set it and forget it” when it comes to investing. It’s a particularly good fit for existing Chase customers, because it lets you bank and invest from the same mobile app.

In this review of You Invest Portfolios by J.P. Morgan, we’ll look at what this service offers so you can decide if it’s a good fit for you.

You Invest Portfolios by J.P. Morgan Review

Product Name: You Invest Portfolios by J.P. Morgan
Product Description: You Invest Portfolios by J.P. Morgan is a robo advisor that seeks to make investing easy and hands-off. Once you've made your initial investment of $500, you can sit back and let the service do the work of building and maintaining your portfolio. It's about as simple as investing comes, but some might find the annual fee expensive.
Commissions and Fees
Account Options
Investment Options & Asset Allocation
Tools & Resources
Website / App / Ease of Use
Customer service

Summary

4

When it comes to Commissions & Fees, You Invest Portfolios by J.P. Morgan is on the more expensive end of the robo-advisor spectrum, with a 0.35% management fee, in addition to any fund fees. We also found the Account Options limited: You can invest only in an individual taxable account or a traditional or Roth IRA. However, in the Investment Options & Asset Allocation department, we like You Invest Portfolio’s risk-conscious mix of smart-beta ETFs, daily rebalancing check, and glide path strategy. Unfortunately, there are very few Tools & Resources to play around with. What really shines is the Website / App / Ease of Use. Your You Invest Portfolios portfolio will integrate with the app for an existing Chase bank or credit card account, making for a one-stop-shop. Customer Service can be reached five days a week by phone.

You Invest Portfolios Features

You Invest by J.P. MorganFeatures
Minimum Investment$500
Commissions & Fees0.35%
Types of InvestmentsStock and Bond Smart-Beta Funds
Types of AccountsIndividual, Traditional IRA, Roth IRA
Asset AllocationManaged Portfolios
Automatic Portfolio RebalancingYes, Daily
Human Advisor AvailabilityNone
Tax-Loss HarvestingNo
Banking ServicesIntegration with Chase Bank Accounts
App AvailabilityiOS, Android, Mobile Optimized Website
Customer ServiceEmail, Phone
FINRA CRD Number#79
SEC Registration Number#801-3702, #8-35008

Additional Features

  • You Invest Trade. If you’d rather try DIY investing, you may prefer to use You Invest’s stock broker service instead. You Invest Trade charges no commissions on most stock and fund trades and is a good fit for beginning investors looking to learn the ropes.
  • Automatic Rebalancing. Unlike some robo advisors that require a minimum investment, You Invest Portfolios will rebalance your portfolio no matter how much money is in it.
  • Chase Integrated App. You Invest fully integrates with the Chase app associated with bank and credit card accounts. If you’re already a Chase customer, that makes for a handy one-stop-shop for all of your financial needs.

What Is You Invest Portfolios?

You Invest Portfolios is the robo-advisor service offered by JPMorgan Chase, the largest bank in the United States, and the sixth-largest bank in the world. The company is the result of several mergers and acquisitions made in the last 25 years, including J.P. Morgan & Co., Chase Manhattan Bank, Bear Stearns, and Washington Mutual.

You Invest Portfolios is the sibling of You Invest Trade, a commission-free online stock broker. However, unlike You Invest Trade, You Invest Portfolios does all of the heavy lifting of investing for you. You answer a questionnaire about your goals, time frame, and risk tolerance, and the service creates and maintains a portfolio tailored to your needs.

Although the name J.P. Morgan might conjure the image of a man with a top hat and pocket watch, You Invest Portfolios by J.P. Morgan is anything but old-fashioned. You can manage your account entirely via mobile app. In fact, one of the biggest “plusses” of this service is its app integration with any Chase bank or credit card accounts you might have. You can view all of your financial and investing accounts from one dashboard.

How Does You Invest Portfolios Work?

As with all robo advisors, You Invest Portfolios begins by asking you questions about your investment goals, time horizon, and risk tolerance. It will then select one of four risk profiles for your portfolio: Aggressive, Growth, Moderate, or Conservative. However, your risk profile isn’t set in stone; you can move one level up or down on the scale (from Growth to Aggressive or Moderate, etc.).

You’ll need at least $500 to open an account. After opening, you’ll need to make sure there’s always a balance of at least $250 to maintain your account.

Portfolio Holdings

No matter what risk profile You Invest Portfolios assigns you, your account will consist of J.P. Morgan exchange-traded funds (ETFs). The ETFs You Invest by J.P. Morgan selects are smart-beta funds. This means the funds are customizable, rather than just tracking an underlying index.

The objective of ETF investing is to reduce risk by holding a variety of stocks, bonds, and other exchange-traded securities. Most robo advisors depend on ETFs for their portfolio makeup. However, there are a few, including Personal Capital, that allow investors to select individual stocks.

There are not a whole lot of customization options with a You Invest robo-advisor portfolio. However, you can choose to exclude up to three eligible ETFs from your portfolio. You can update this preference at any time.

You Invest Portfolios’ algorithms check your portfolio daily and adjust your allocation as needed to keep your investments on track. If you make any changes to your risk profile, your holdings will be automatically reconsidered. Other rebalance triggers include market fluctuations and large deposits or withdrawals.

If you indicate your purpose for investing is retirement, your You Invest Portfolio will also use an asset allocation strategy referred to as a “glide path” strategy. This means that your mix of investments will change as you hold your portfolio over time. In general, your portfolio will shed riskier investments as you age and your risk tolerance decreases.

You Invest Portfolios Fees

This is where You Invest Portfolios loses its shine. The robo advisor charges a 0.35% annual management fee, which is on the high end. For comparison, you can open either a Wealthfront or a Betterment account for only 0.25% annually – and receive many more extra services and features that You Invest doesn’t include. If bells and whistles aren’t important to you, Vanguard’s robo advisor charges only 0.15%. And you can even choose an advisory fee-free managed account at Ally Invest.

Keep in mind that, with most robo-investing services, you’ll also be responsible for ETF expense ratios. However, if you have a You Invest Portfolios account and pay any ETF expenses to J.P. Morgan, they will be offset against the 0.35% advisory fee. This is something to keep in mind when comparing the true costs of robo advisors.

You Invest Portfolios Pros & Cons

Pros

  • Ease of Use. You Invest Portfolios is incredibly easy to use. All you have to do is answer a quick questionnaire, and the service will do the rest for you.
  • Glide Path Strategy. If you’re concerned about investing for retirement, You Invest Portfolios’ glide path strategy can maximize your asset allocation as the years pass. As retirement draws closer, your portfolio will be adjusted so you’re not taking any costly risks.
  • Automatic Rebalancing. The asset allocations of You Invest Portfolios are considered daily and adjusted as needed.
  • Chase App. If you already have a Chase bank or credit card account, you’ve probably already used the company’s integrated mobile app. Now you can add your You Invest Portfolios account to the same dashboard, making it a one-stop-shop for all things financial.

Cons

  • High Management Fees. At 0.35%, You Invest Portfolios’ annual fees are a bit steep. However, consider that any fund expenses paid to J.P. Morgan may be deducted from your annual fees. Always check the fine print when comparing robo-advisor fees to find the best deal for you.
  • No Tax-Loss Harvesting. Unlike many robo advisors offering this tax-saving feature, You Invest Portfolios don’t have this option to cut investment losses.
  • Not Many Features. Some other robo advisors offer extra tools and features for clients, including budgeting services. That’s not the case here, making it a bit harder to justify the higher fee.

Conclusion

Who is the ideal You Invest Portfolios client? If you are a total investing newbie with no interest in DIYing – and maybe even already have a Chase bank or credit card account – this could be a great fit. The robo advisor makes investing extremely easy, and its streamlined and integrated app can give you a quick picture of your account.

However, if you’d rather have extra features to help manage your money, it’s worth checking out competitors such as Wealthfront and Betterment. Both services offer plenty of personal finance tools and have lower management fees, to boot.


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About Kevin Mercadante

Kevin Mercadante is professional personal finance blogger, and the owner of his own personal finance blog, OutOfYourRut.com. He has backgrounds in both accounting and the mortgage industry. He lives in Atlanta with his wife and two teenage kids and can be followed on Twitter at @OutOfYourRut.

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