JP Morgan Personal Investing - £100 Cash Offer

AltruisticPie1544

I noticed today in my Chase app that JP Morgan have a promotion for new users to their investment platform that sign up via the Chase app. They are giving a £100 reward if you manage to deposit and keep £1,000 invested between 5th May 2026 and 5th May 2027.

I mainly use and plan to continue using Trading 212 as my primary investing platform as I prefer their lower fees and greater investment options, but an easy 10% gain in a year is hard to ignore. I signed up for JP Morgan and put in the minimum £1,000 to qualify for the bonus.

It's a bit difficult to know exactly what you are investing in as it's more like you are investing into certain categories / risk levels rather than specific ETFs. After comparing the different options I went with the fixed allocation option and risk level 5, which seems to most closely match to a global equity tracker and has the lowest fees.

Albermarle

Quite a few simple investment/SIPP platforms just offer you a basic choice of different risk levels.

Rollinghome

Sounds very much like the original Nutmeg offering that JP Morgan acquired 5 years ago. You would have 0.75% pa fees if you went for the managed version or a bit less for the fixed allocation, so a bit toppy for the long-term.

What you get for managed is likely to look similar to one of the Vanguard Lifestrategy funds.

numbercruncher

I got that offer too in Chase app. I notice that they state you need to invest by 5th May and keep invested until 5th May next year. So not a bad return for a year. Just wondering what the safest investment level would be so as not to lose money and also, whether it’s best to open account now but hold off investing until nearer to 5th May?

Altior

I was keen originally, but no risk over 4% locked can be obtained right now. Plus a few quid for the fees, say £10.

So the effective bonus is circa <£50 for a year+. With investing risk.

Alternatively you can get 5%+ in a RS with access to the cash and no loss of interest.

It's a swerve from me.

adwils

complicated set up. loads questions asked. Can't diy investements

as noted above £1000 invested for a year gets £45 in an ISA. Fees at .75% too high

Better options available IG in particular for new customers.

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/81949710#Comment_81949710

It is not designed for DIY investors, it is a robo advisor platform to guide inexperienced investors to a suitable investment. Hence all the questions and the higher price.

AltruisticPie1544

People are complaining about the fees but it doesn't seem that bad on fixed allocation. 0.14% looks quite reasonable.

Altior

My comment regarding the fees was in the context of getting the bonus, ie what you're really doing is comparing £1K in the best cash option for a year vs investing via this platform purely for the bonus. Net off investing risk to nil to be fair, then you're comparing £100 less fees vs what £1K in risk free cash could obtain.

It's not persuasive in my view, but if you are going to invest another £1K for a year anyway, it changes the calculation.

AltruisticPie1544

I don't think anyone should be considering this purely for the bonus without understanding that all investments carry risk. The hope by investing is that you will outperform cash in the medium to long term, but market volatility can easily wipe out any bonus, as well as some of your initial deposit in the short term.

This offer is more for those who were going to invest anyway and happy to take some level of risk.

Altior

Yes, in most investing platforms however, you can find a cash proxy. JP Morgan doesn't, or at least I couldn't identify an obvious one!