If you have investments, Roth etc…, with Fidelity and you accept a job with JPM, does JPM require you to move all of your investments under the JPM umbrella?
10 replies (most recent on top)
Depends if your position is subject to PAD compliance or not. There’s a list of other brokers we can go to. It’s not that big of a deal.
No but you might have to close out accounts that allow you to self-manage (buy/sell) investments. Like Robinhood app, etc. Because of potential liability and Regulatory requirements all investments have to fall within the approved list or be disclosed and approved.
Usually you just disclose your accounts and any other outside interests, and that's that. You'll need clarification on any new accounts that you may want to open, however.
I think it would be illegal to make that a requirement.
It’s a conflict of interest so they won’t allow you I think
No
I’ve heard of such things if your role is in investments and\or upper upper management.
I myself am in the tech field, a computer guy. Would JPM require this of me if my role was “the computer guy”.
If they do, then I’m turning it down.
They do and also require 20% of your balance.
i have investments with Schwab and never was told to move anything.