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Fees on J.P. Morgan Accounts: Highlights
• Brokerage and investment-advisory accounts opened through J.P. Morgan’s Private Client Advisor program come with different
fees and minimums.
• Brokerage accounts have a
$50 annual fee, although this charge can be waived.
• The advisory-fee schedule can go as high as
1.45% of assets under management, although some programs have lower maximum advisory fees.
If you’re considering opening a Private Client Advisor account with J.P. Morgan, make sure you review the following fees and minimums that may apply to your account.
J.P. Morgan Brokerage Accounts Fees
A full-service brokerage account opened through J.P. Morgan Private Client Advisor has a
$50 yearly fee. This fee can be avoided in one of three ways:
- Generate $50 or more in commissions during the calendar year
- Maintain at least $25,000 in balances across all investment accounts
- Be a Chase Private Client customer (generally $150,000+ in qualifying balances)
In addition to the annual fee, trades in these full-service accounts may have commissions. For call-in stock and ETF trades, the commission is
1% of principal, and a
$25 minimum commission may apply. For eligible older accounts, stock and ETF trades placed through Chase.com cost $0, although the current fee schedule says this online option is
not available for accounts opened after May 5, 2025.
The options contract charge cannot be avoided. For eligible older accounts, online options trades cost
65¢ per contract. Options trades placed through any other method cost
$1 to $4 per contract, depending on the contract’s premium. Option trades that are not placed online also have a $25 minimum commission.
Brokerage accounts in the Private Client Advisor program do not have minimum account balances, although J.P. Morgan lists a
$100,000 minimum investment for the Private Client Advisor service.
J.P. Morgan Managed Accounts Fees
Investment-advisory accounts at J.P. Morgan Private Client Advisor do not use flat annual account fees. Instead, they charge asset-based fees that depend on the investment program or strategy selected. The highest maximum advisory fee we found during our research was
1.45%. In some investment strategies, this asset-based fee becomes lower at higher balances. For example, here is the fee schedule for a Mutual Fund Advisory Portfolio:
| Account Assets | Annual Fee |
|---|
| $0 to $249,999.99 | 1.45% |
| $250,000 to $499,999.99 | 1.30% |
| $500,000 to $999,999.99 | 1.15% |
| $1,000,000 to $1,999,999.99 | 1.00% |
| $2,000,000 to $4,999,999.99 | 0.75% |
| $5,000,000 to $9,999,999.99 | 0.65% |
| $10,000,000 to $14,999,999.99 | 0.55% |
| $15,000,000 to $24,999,999.99 | 0.50% |
| $25,000,000 to $49,999,999.99 | 0.40% |
| More than $50,000,000 | 0.30% |
Some investment strategies inside the Private Client Advisor program may have extra fees. For example, some programs include a Model Manager fee. Model Manager fees range from
0.10% to 0.45% in CSP and JPMCAP and from
0.25% to 0.425% in the Advisory Program. Portfolio Manager fees can range from about
0.10% to 1%. If any of these fees apply, they will be disclosed in writing, so be sure to read every document you receive for your account.
As noted above, J.P. Morgan Private Client Advisor has a $100,000 minimum investment to get started. Individual investment strategies have their own minimums, and some of them may be higher or lower than the program minimum. Here are a few examples:
Mutual Fund Portfolio: $50,000
Fixed Income Advisory Program: $100,000 for taxable Customized Bond Portfolio strategies and $250,000 for tax-aware Customized Bond Portfolio strategies
Core Advisory Portfolio: $10,000
A Higher Return Way to Invest
Financial advisor and wealth management fees substantially reduce an investor’s portfolio value over the long term.
A less expensive approach is to
build a diversified portfolio with commission-free index funds at
Charles Schwab,
allowing more of the investment returns to remain in the account.
Open Schwab Account
Fees that Apply to Both Advisory and Brokerage Accounts
Some fees at J.P. Morgan Private Client Advisor can apply to both managed and brokerage accounts. For example, the firm charges a
$95 non-retirement account transfer and termination fee when all assets are transferred out of the account. Terminating a retirement account when all assets are transferred out by check, ACH, or wire transfer also costs
$95. A paper trade confirmation costs
$5 per trade.
Any mutual funds or ETFs used in a Private Client Advisor account have their own expense ratios, and those costs increase the total cost of the account.
Margin or debit-balance interest can apply where available. Currently,
it begins at
11.5% for the lowest published Prime-based balance tier and includes a lower Prime-based tier of
9.25%. The largest published tiers are based on SOFR instead of Prime and go as low as
SOFR + 1.85%.
Alternatives
Fees at J.P. Morgan Private Client Advisor may look reasonable compared with some other in-person, full-service programs. The $100,000 minimum is somewhat high. If you don’t meet that minimum, J.P. Morgan’s Personal Advisors program is a useful substitute at just
$25,000, along with a lower cost:
0.60% annually for $25,000 to $249,999 and
0.50% annually for balances over $250,000.
Updated on 8/1/2026.
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