Chase Private Client is not “by invitation only”. Anyone that has the assets, can open an account. I know I just went to the my 2nd meeting and I was not impressed with Chase Private Client. I just retired and easily surpass the minimums, with multiple investment accounts. The Chase Financial Advisor assigned to my local office was way more concerned about making sales and commissions than my best interests. He wanted to liquidate all my holdings and put half in a Chase mutual fund that averages 3.5% annually for the last 5 years. The other half, he wanted me to purchase an annuity. Keep in mind that all of my funds are in retirement accounts. My spouse has poor health, no way would I buy an annuity. I walked out of the meeting. It was insulting to my intelligence that Chase wants people to 1.25% annually on all their holdings for such pitiful investment advice. All the “extra benefits” are fluff and can be easily dupicated for less cost. Charles Schwab offers better benefits are far less cost.
Chase Private Client is a scam to get baby boomers 401Ks and make them pay fees out the yazoo for substandard investments. DONT’ DO IT!
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