Morgan outside of its portfolio management role or with the broker-dealer affiliates of J.P. Funds or their sponsors may have other business relationships with J.P. These payments may be made by sponsors of funds (including affiliates of JPMIM) or by the funds themselves and may be based on the value of the funds in the client’s portfolio. Morgan Funds and third-party funds, if applicable, that are held in the client’s portfolio. Morgan may receive administrative and servicing and other fees for providing services to both J.P. Morgan Funds than when it is invested in third-party funds.Īll funds have various internal fees and other expenses that are paid by managers or issuers of the funds or by the fund itself, but that ultimately are borne by the investor. Morgan will keep no more revenue when the client’s portfolio is invested in J.P. Because fees paid to JPMIM and its affiliates will be offset against the advisory account fee, J.P. In such a case, JPMIM or its affiliates receive a fee for managing the J.P. Morgan purchases for the client’s portfolio. JPMIM or its affiliates may be sponsors or managers of ETFs and other registered funds (“J.P. Morgan ETFs used in this program may or may not be approved for solicitation in the JPMS full-service brokerage platform. Morgan ETFs for the program will be different from, and may, in certain circumstances, be inconsistent with, the investment decisions made by J.P. Consequently, investment decisions regarding J.P. Morgan Securities LLC (“JPMS”) serves as an investment adviser. Morgan ETFs in this program are not required to be reviewed or approved by the research process applicable to other programs for which J.P. Morgan will receive more overall fees when J.P. You should not invest in this program if you are not comfortable holding an investment portfolio that is comprised of 100% J.P. The client’s portfolio will contain 100% J.P. Morgan has a conflict of interest when it determines the portfolio’s target asset classes, asset allocation goals or ongoing allocations, because it will allocate only to asset classes where J.P.

Morgan ETFs even in cases where there are third-party ETFs that are less expensive, or that have longer track records or superior historical returns. As a result, this program’s portfolio manager will choose J.P.

When selecting ETFs for this program, the portfolio manager limits its selection to J.P. Morgan has with other clients or when J.P. Other conflicts will result because of relationships that J.P. Morgan receives payment for providing services (including shareholder servicing, recordkeeping or custody) with respect to investment products purchased for a client’s portfolio. Morgan receives payment as a result of purchasing an investment product for a client’s account or 4) When J.P. Morgan entity obtains services, including trade execution and trade clearing from an affiliate, 3) When J.P. Morgan invests in an investment product, such as a mutual fund, exchange-traded fund (ETF), structured product, separately-managed account or hedge fund issued or managed by an affiliate, such as J.P. Conflicts will result, for example (to the extent the following activities are permitted in the account): 1) When J.P. Morgan') has an actual or perceived economic or other incentive in its management of clients’ portfolios to act in a way that benefits J.P. or any of its affiliates (together, 'J.P. Morgan Automated Investing program disclosure brochure (PDF).Ĭonflicts of interest will arise whenever J.P. Morgan will be rebated or offset against the advisory fee. The advisory fee does not include underlying fees and expenses charged by the ETFs in your account. The initial minimum deposit amount must be made within 60 days.Īn annual advisory fee of 0.35% (subject to applicable discounts, promotions, adjustments, or waivers) will be charged based on the assets held in the account. An initial minimum deposit of $500 and a minimum balance of $250 is required to maintain a J.P.

Chase paperless settings