How to open an JP Morgan Chase custodial account for kids. UTMA/UGMA investment assets in a brokerage account for teenagers and children.

JP Morgan Chase Custodial Account

It is possible, although not easy, to open a custodial account with J.P. Morgan. If this is what you want to do, keep reading. We’re going to show you how and give you some alternative ideas.

There are multiple departments within JPMorgan Chase & Co., which is the financial services holding company we need to examine. First up is J.P. Morgan Asset Management.

This organization offers custodial accounts that invest solely in JPMorgan mutual funds. Many of these securities, although not all, have loads and 12b-1 fees. There are no other investments available inside custodial accounts with J.P. Morgan Asset Management.

Each mutual fund has a $1,000 or $500 minimum investment amount. Furthermore, J.P. Morgan Asset Management requires a $50 minimum recurring investment amount per month.

For more information on custodial accounts with J.P. Morgan Asset Management, you can reach a representative at 800-480-4111.

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Custodial Accounts with J.P. Morgan Securities LLC

If you want more than just JPMorgan funds, you could opt for a custodial account with J.P. Morgan Securities. This brokerage unit offers UTMA and UGMA accounts with a longer list of tradable instruments, including stocks, ETFs and mutual funds from other fund families.

To open a custodial account through J.P. Morgan Securities, you must visit a local branch and sit down with a financial advisor and develop a roadmap that includes that custodial account. The exact fee schedule of the custodial account will most likely vary, depending on a wide variety of factors.

To find a nearby investment advisor, contact your local Chase Bank branch. Although not all Chase Bank branches have financial advisors, any branch should be able to point you to one nearby that does offer investment help.

Custodial Accounts with J.P. Morgan Investing

In addition to the two full-service brokers described above, JPMorgan Chase & Co. has an online discount broker. Aptly named J.P. Morgan Investing, this low-cost brokerage firm has automated and self-directed accounts. Unfortunately, though, it doesn’t offer any custodial accounts.

TD Ameritrade as a Low-Cost Alternative

If you want to skip the branch and traditional investment advisor, you could open a custodial account online in just a few minutes with a discount broker if you’re willing to walk away from JPMorgan Chase & Co. and give TD Ameritrade a try.

TD Ameritrade has a user-friendly online application form for custodial accounts. Just click here and click on the link at the top of the site that says Open New Account. Look for the account option that says UTMA/UGMA. These are the custodial accounts. The correct one will automatically be selected for you based on your state of residency.


TD Ameritrade UTMA Account


TD Ameritrade’s custodial accounts have a long list of tradable instruments, including options, stocks, closed-end funds, mutual funds, ETFs, equities, and bonds. There are no minimums or account fees, and a custodial account can easily be linked to an existing TD Ameritrade account if you already have one.

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Disclosure

INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE




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