J.P. Morgan Wealth Management Eliminates Upfront Fee on 529 Plans
Industry-leading commitment makes education investing more accessible
New York, NY, September 13, 2021 – J.P. Morgan Wealth Management announced today that it will offer its advisor-sold 529 plans without the industry standard upfront fee (“front-end load or sales charge”). With this change, more of what the client invests goes towards their education goals.
College tuition costs are rising 6.3% every year, according to J.P. Morgan’s College Planning Essentials report. 529 plans provide a tax-advantaged way for families to invest for the future costs of higher education. Some also can help cover costs of K-12 tuition, vocational school and registered apprenticeships. There are no income limits on contributions or age restrictions on beneficiaries, unlike other types of accounts often used for education.
J.P. Morgan Wealth Management advisors will offer select 529 plans without the sales charge, which for advisor-sold investments can be as high as 5.75%. Other fees and expenses will continue to apply.
To learn more about J.P. Morgan Wealth Management’s education planning offerings, visit https://www.chase.com/personal/investments/education/529
To read about common misconceptions about 529 plans and how they can help families invest for college, visit The Know, J.P. Morgan Wealth Management’s investing education center: https://www.chase.com/personal/investments/learning-and-insights/article/529-all-the-latest-insights
About J.P. Morgan Wealth Management
J.P. Morgan Wealth Management is the U.S. wealth management business of JPMorgan Chase & Co., a leading global financial services firm with assets of $3.7 trillion and operations worldwide. J.P. Morgan Wealth Management has ~4,000 advisors and ~$670 billion of assets under supervision. Customers can choose how and where they want to invest. They can do it digitally, remotely, or in person by meeting with a J.P. Morgan Advisor in one of our 3,500 Chase branches throughout the U.S., or in one of our 21 offices. For more information, go to www.jpmorganwealthmanagement.com and follow @JPMWealth on Twitter.
J.P. Morgan Wealth Management is a business of JPMorgan Chase & Co., which offers investment products and services through J.P. Morgan Securities LLC (JPMS), a registered broker-dealer and investment advisor, member FINRA and SIPC. Annuities are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. Certain custody and other services are provided by JPMorgan Chase Bank, N.A. (JPMCB). JPMS, CIA and JPMCB are affiliated companies under the common control of JPMorgan Chase & Co. Products not available in all states.
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