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Here, fixed that for you: “Is Chase Private Client worth it? Would consider switching from Schwab if there are material advantages. Looking for advice from folks who are current clients and can speak to the delta with other similar money managers!”
Chief
Ironically more of the poors probably respond when you ask the way you did
Op ignore all the haters, you asked a question which was deliniated in it's essence. No one answered because they're not that smart. All thses people just want to tear down a system they don't even understand. The establishment will win. Just give it time
This is not a coherent written statement
I just keep some after tax investments in there to meet the minimum. Makes banking free essentially. All fees reversed and stuff like that. Also I think if you have a mortgage with them it counts too. Bank of America has something similar, but I haven’t compared.
I like that they somewhat try. So if there is something that is bugging me I call them. Say “pls fix” and then done and move on with my day.
I switched to first national bank. Smaller bank, better service, no fees for similar perks
Most banks have “relationship” discounts for mortgages - usually 0.125 percent off for 250K, 0.25 percent for 500K and then some have 750K, most have 1m. This can be in the bank, brokerage accounts and even on 401K retirement funds that they have “view” of (like it can hold whatever Fidelity or Vanguard funds). I didn’t really like Chase Private Bank as I didn’t find them that responsive. I ended up going with HSBC but that was also because they have retail/consumer banking presence in other markets that I was interested in.
If it’s good enough for Obama, it’s good enough for you!
Rising Star
I’ve used it for no ATM fees at casinos or ... other places where you need cash quickly
No FX fees is super handy for international travel. Good rates.
About to use mortgage discount this year.
Free trades is nice. I don’t pay the service fee for investment advice.
Also, agree with most ppl that Op posted in a super obnoxious way
I don't understand why you would change unless you are not happy with your current advisor; I also don't understand why would it be a hassle to move the money, Chase will guide you through the process and help with absolutely everything.
Let me ask my butler Venmo you another .5m usd
have u tried a local credit union
I have both chase private client and BoA honors. Neither one of them is anything special. Literally the best thing from Chase is a free safety deposit box and checks
The only benefit of Chase Private Client that has been useful to me is ATM fee waiver. Now that Chase has reduced eligibility by not extending benefit to non-primary account holders, I won’t attempt to renew. I agree with a prior poster that B of A’s Platinum Honors is a better program.
I bet .5m hands at blackjack. just sayin
OP, chase private client is a package. Talk to their advisor and invest 500k under managed account. Fee is reasonable and your money grows along with benefits. Merrill is good too considering platinum honors benefits , talk to their financial advisor as well. Merril fee is more than chase fee on managed accounts.
Very useful for when you have kids trying to apply for their first credit card. Only really makes a difference if you live in the suburbs where you can get to know the private client banker at that specific branch. No atm fees is very nice, although Schwab already has that anyway, and helps to have a personal contact at a bank if you ever have an issue with your account. Not totally worth it IMO unless you’re thinking about mortgages, but a nice perk for keeping some amount of cash at the bank
My experience was it depends. They can manage your assets so if they do, they take a fee. I got it before getting a house and it got me a 1/4 point off my mortgage which was nice. All the other stuff is same as with any other banks for less money. HSBC / bofa - 100k
It’s only worth it when there’s sign-up offers. Churn and burn, baby.