Chase Private Client Services?

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Barefootgirl
Posts: 2224
Joined: Tue Oct 06, 2009 7:05 pm

Chase Private Client Services?

Post by Barefootgirl » Sat May 05, 2018 6:12 am

Anyone who's a Chase Private Client care to share their experience details? satisfied? not satisfied? worth it?

My understanding is that the threshold is $250K, but with an existing relationship you can become a CPC and work your way up....

Just curious, Chase seems to be all over Florida.
How many retired people does it take to screw in a lightbulb? Only one, but he takes all day.

letsgobobby
Posts: 11647
Joined: Fri Sep 18, 2009 1:10 am

Re: Chase Private Client Services?

Post by letsgobobby » Sat May 05, 2018 6:43 am

there are a few threads on CPC.

Freefun
Posts: 381
Joined: Sun Jan 14, 2018 3:55 pm

Re: Chase Private Client Services?

Post by Freefun » Sat May 05, 2018 7:03 am

Barefootgirl wrote:
Sat May 05, 2018 6:12 am
Anyone who's a Chase Private Client care to share their experience details? satisfied? not satisfied? worth it?

My understanding is that the threshold is $250K, but with an existing relationship you can become a CPC and work your way up....

Just curious, Chase seems to be all over Florida.
Lots of posts on various forums:

viewtopic.php?t=217203

viewtopic.php?t=218644

viewtopic.php?t=168070

https://www.whitecoatinvestor.com/forum ... g-options/

More info re this search
https://www.google.com/search?sitesearc ... ate+client
Remember when you wanted what you currently have?

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TomatoTomahto
Posts: 7636
Joined: Mon Apr 11, 2011 1:48 pm

Re: Chase Private Client Services?

Post by TomatoTomahto » Sat May 05, 2018 7:51 am

We had it offered to us. We dipped our toes in it when looking for a quick asset-based loan in lieu of jumping through the hoops for a mortgage. We wound up paying cash for the house; the Private Client hoops were no less onerous than the mortgage company's.

We did not take it when it was free, or reduced fees. I would not, under any circumstances, pay for it.

They are just a bunch of marketers, IMO.
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RetiredCSProf
Posts: 167
Joined: Tue Feb 28, 2017 4:59 pm

Re: Chase Private Client Services?

Post by RetiredCSProf » Sat May 05, 2018 9:19 pm

I considered Chase Private Client Services this year when I was applying for a HELOC. It would have required my moving funds from a self-managed, traditional IRA to a managed account at Chase. I prefer to manage my own accounts. While Chase offered that they would be able to set up a self-managed account for me, they would have charged me $50 per transaction.

TG2
Posts: 192
Joined: Sat Nov 25, 2017 6:50 pm

Re: Chase Private Client Services?

Post by TG2 » Sun May 06, 2018 2:39 am

RetiredCSProf wrote:
Sat May 05, 2018 9:19 pm
I considered Chase Private Client Services this year when I was applying for a HELOC. It would have required my moving funds from a self-managed, traditional IRA to a managed account at Chase. I prefer to manage my own accounts. While Chase offered that they would be able to set up a self-managed account for me, they would have charged me $50 per transaction.
No, you do not have to move your money to a managed account. I have a self-directed account. No, they do not charge you $50 per transaction. I paid $5 per trade for ETF's. I think mutual funds are free.
Anyone who's a Chase Private Client care to share their experience details? satisfied? not satisfied? worth it?
I am very satisfied with it. I don't even use most of the benefits available to me, but having no fees for anything I do use, being able to extend those benefits to family members, and having an advisor and a banker available to do things for me is nice. Also, depending on where you are, you may have available the Arts and Culture Card which gives you free admission and guest privileges at several museums and attractions. Best thing to do is go in and talk to them and get the details for yourself.

G-Force
Posts: 315
Joined: Sun Sep 20, 2009 3:03 pm
Location: Florida

Re: Chase Private Client Services?

Post by G-Force » Sun May 06, 2018 4:34 pm

I moved to the Chase Private Client service last year after being in the Bank of America preferred rewards program with free ETF trades. I moved to Chase because several of the posts on this board indicated you could buy Vanguard mutual fund Admiral shares. As it turns out I could not, even though some posters indicated that they could still buy admirals shares in their Chase brokerage account. To date, this feature seems inconsistent—some have the feature and some do not. Because I am not able to buy Admiral shares, I left my investments in Vanguard ETFs at $5/trade at Chase. It's not as good as Merrill Edge, but not outrageous either. On the positive side, I am able to buy Vanguard mutual funds of the investor share class for a $0 fee, which you cannot do at Merrill Edge. You will need to decide which is more important.

If you do go to speak to a banker about Chase Private Client, be prepared for a sales pitch to go into active management. I got the hard sell but politely declined. Afterward, they agreed to let me open self-directed brokerage and IRA accounts. If I were to do it over, I would just open the accounts online and forget setting down with a banker/asset manager—it's not worth the hassle and extra paperwork to deal with someone face-to-face.

At this point, I've decided I will wait until the end of the year whether to stay with Chase or move everything to Schwab. I do like the Chase website, integrated banking, $0 Vanguard mutual funds investor shares, CPC features, and a branch less than 2 miles from me. There are some rumors about Chase offering free trades, so I want to see if that ever pans out. If it does, it could be the best of both worlds—free Vanguard ETF trades and free buys/sells of Vanguard mutual funds investor shares. Time will tell.

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