Updated October 29, 2026. Quick answer: J.P. Morgan’s own-component maximum is lower at $500,000: up to $10,000 a year (its 2.00% maximum for J.P. Morgan Securities’ own component, before any separate portfolio-manager or model-provider fee), versus up to $10,175 a year, computed as 2.035% of $500,000, for Morgan Stanley (a 2.00% maximum MSWM Fee plus a 0.035% Platform Fee), from each firm’s own SEC-filed fee disclosure. The gap is the Platform Fee at every balance; the table below shows $250,000, $1 million and $2 million.
Chase’s own advisor pricing, read against the Form ADV: Chase financial advisor cost.
What each firm charges, side by side
| Account balance | J.P. Morgan (maximum for its own component) | Morgan Stanley (CGA maximum with Platform Fee) |
|---|---|---|
| Computed at $250,000 | $5,000 | $5,087.50 |
| Computed at $500,000 | $10,000 | $10,175 |
| Computed at $1,000,000 | $20,000 | $20,350 |
| Computed at $2,000,000 | $40,000 | $40,700 |
J.P. Morgan Securities LLC (CRD 79) discloses a 2.00% maximum for its own component of the fee in every program except Customized Bond Portfolios (Wrap Fee Program Brochure, Form ADV Part 2A Appendix 1, June 30, 2026). Morgan Stanley (CRD 149777) discloses a 2.00% maximum MSWM Fee for the Consulting Group Advisor program plus a 0.035% Platform Fee, 2.035% in all (Wrap Fee Brochure, Form ADV Part 2A Appendix 1, March 30, 2026). Each figure is the disclosed maximum applied to the balance as a flat rate: for example $500,000 times 2.035% is $10,175. Neither brochure prints a breakpoint table.
What the fee includes, in each firm’s own words
J.P. Morgan: “The maximum annual rate for JPMS’ component of the Fee is 2.00% for all Programs except for” the Customized Bond Portfolios program, which has a lower maximum for that component. In STRATIS, “The Portfolio Manager component of the Fee is currently up to 0.75% annually” and “The Model Portfolio Provider component of the Fee is currently up to 0.38% annually”; that component is “generally separate from and in addition to JPMS’ component of the Fee”.
Morgan Stanley: “The maximum annual MSWM Fee for CGA accounts is 2.00% of the market value of the eligible assets in the account”. “The Platform Fee is a 0.035% annual asset-based fee”, “The Platform Fee is in addition to the MSWM Fee”. The brochure adds that “In special circumstances, and with the client’s agreement, the MSWM Fee charged to the client for an account may be more than the maximum annual fee stated in this section”.
How this compares
Our benchmark of published adviser fee schedules, a weighted median we compute, puts the annual cost near $2,000 to $2,500 on $250,000 (the benchmark). At $500,000 J.P. Morgan’s own component runs up to $10,000 a year and Morgan Stanley up to $10,175 (computed above), a computed difference of up to $175 a year: the Platform Fee, 0.035% of the balance, which we compute as $87.50 at $250,000, $350 at $1 million and $700 at $2 million.
The order can reverse once manager components are added. A J.P. Morgan STRATIS account that carries the Portfolio Manager component at its 0.75% ceiling would run 2.00% plus 0.75%, which is 2.75%, or $13,750 at $500,000, which is $3,575 more than Morgan Stanley’s $10,175 for an account with no separate manager fee. Morgan Stanley’s own brochure says its fee can also exceed the stated maximum in special circumstances, so a fee quote in dollars from each firm is the comparison that counts.
Want the full breakdown for either firm on its own? Read the J.P. Morgan fee page or the Morgan Stanley fee page for the source citations.
Thinking about leaving one of these firms instead of pricing what you would pay to stay? See what it costs to leave J.P. Morgan or what it costs to leave Morgan Stanley, or read the general mechanics of switching financial advisors.
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Answer againSources
- J.P. Morgan Securities LLC Wrap Fee Program Brochure, Form ADV Part 2A Appendix 1, June 30, 2026: www.jpmorgan.com
- Morgan Stanley Consulting Group Advisor (CGA) Program Wrap Fee Brochure, Form ADV Part 2A Appendix 1, March 30, 2026: adviserinfo.sec.gov
Read from the filings and pages linked above on October 29, 2026. General information, not investment advice. Fees and minimums change, and the firm’s current brochure and a written quote are the documents that decide what you pay.