$150,000 to be a Chase Private Client! Worth it?
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- Опубліковано 27 вер 2024
- In this video, I’m talking about Chase Private Client, what exactly is this program, how does it work, and is it worth it? I thought maybe it was going to be a Black Card program where you pay an annual fee to be a part of this concierge service. But turns out I was wrong and I was surprised by how much value you actually get by being a Chase Private Client.
In this video, I’ll be sharing what a Chase Private Client is (i.e. basically a bank VIP) what your one requirement is, and exactly what the benefits of becoming a client are.
To give you a bit of a summary….
They provide you with an On-Call Concierge who works at the bank and you get their direct number for all of your banking needs, kind of like your own bank butler if we were back in the days when you had butlers.
Then there’s your Lender who walks you through their lending program and if you’re lending with Chase you can receive extra benefits, discounts, cashback, as well as letters for when you are purchasing real estate.
They introduced me to their Financial Planner (who wanted to wine & dine me which was really cool because I was brought back to a time when I was at Chase Bank and asking them to waive my overdraft fees!) who will help set up plans for retirement and investments.
They introduced me to what would be my Business Advisor who helps manage cash flow as well as strategy and business goals.
So, it’s basically like a Dream Team that you get for free, granted you can keep your balance at a certain level. It’s like the Black Card service of American Express, but better and without all of the fees.
And there’s surprisingly a lot of other cool perks and benefits, which I tell you about in more detail in the video...
Overall, I was pretty blown away by all of the service and value that was virtually free. So, just to wrap up, is it worth it? Absolutely.
Watch the video to dive into more of what you’ll receive as a Chase Private Client and drop a comment if you’re a VIP and if you’re taking advantage of these perks and benefits. Interested to know your experience!
I’ve got CPC and honestly I think it’s completely useless. I have some investments in a Chase account, which is what’s qualifying me for the CPC, but none of the benefits are really useful for me. I would definitely not recommend moving 150k+ into a Chase account just to have access to private client.
I have a business account that needs to maintain reserves so it makes sense if you need to keep cash liquid everything else should go in investments.
It comes down to having a competent team. You get to match APR for mortgage plus discounts, criss crossing benefits to your business, exclusive access to principal guaranteed investment vehicles (paying above 3% APY right now), virtually zero fees and zero need to micromanage. You need a new team.
Pretty cool. i was a Citi Gold member for awhile which is their version of the chase private client. I liked it alot, but then they removed all of their physical branches out of texas. I might consider chase in the future.
You may want citigold and add their Dubia location to your profile. I currently have the Dubai sent to me by ccitigold through a promotion.
I interviewed them a couple years ago and they make their money off the I vestment fees. No way I'll let them take a cut out of my investments while they underperform my own buy and hold strategy.
ooo what are you holding atm?
@@yahirlozano8029 Just a simple holding of the SP500 (VOO), International (VEA), and Emerging Markets (IEMG) in low cost ETFs would greatly outperform what they offered.
I really appreciate this! Your channel deserves to be at 100k + subs 🔥
Wow thanks!! Means a lot!!
Good info your channel definitely deserves 1 million subs... keep working 💪🏻💪🏻
Great post! This will be handy when I win the lottery 😬!!!! Seriously though ... these are great perks, and for them to go above and beyond is really nice 👍
Dude, the image of the guy trying to "wire someone money" was hilarious. Looked more like a member of Anonymous trying to take Chase down. LOL
Great info. Now I understand what it means to be a CPC. Thanks.
So where you taking me to dinner babe??
"After listening to feedback to meet our clients' needs, we'll no longer offer the Chase Private Client Arts & Culture program after June 30, 2021. After that date, your Arts & Culture card will no longer be accepted at partner institutions. Your current Arts & Culture card will continue to be accepted until June 30, so you don't need to request a new card."
Welp...
That was a great perk. I have joint accounts with my daughter and she enjoyed bringing her friends to the zoo and Exploratorium. Wish they kept the program.
Bummer.
Exceptional Content thank you for sharing your experiences. Much more success to you and yours
I'm a private client , at your actual branch they treat you nice at any other branch your treated the same as anyone else and borderline nice I would say !
When you take money out as I have to buy a home all of a sudden I've noticed I'm treated different even at my own branch so my money has lessened and do had they're politeness in a way and they no longer want to help you out answer specific questions because you've got a lower plateau because you've taken money out , to add I haven't used credit because I have Cash and I couldn't even get at Costco credit card because I haven't used credit my credit score is low , had 800+ before perfect now 580 from noon use so people use credit.
Wayne, 800+ to 580 is crazy - I'm betting you have fraud or some non-payment somewhere. You should triple check this!
He's promoting them well. However, I have been a CPC and I feel no difference what so ever. They don't offer high interest savings accounts (unless you have a CD account). I've never been offered any lunches, dinners, or games. I'm in CA and they haven't rolled the red carpet out at all. I was thinking about going back to my previous bank. At least money market accounts pays much better.
Hook, line and sinker.
Not me looking at my poor 2k dollars and thinking I could be a private client lmao
Dude you're freaking me out. I'm a young business owner, we are moving to Texas, my wife is going into real estate when we get to Texas. Are you me? Am I you?
Dude that’s awesome!! What are the chances.haha @grant&ally
@@AdamIMobFlores went through your channel and I love your content. You've got yourself a new subscriber. Looking forward to seeing the channel grow. Good luck with the move!
Just found your video's welcome to Texas
Your not into beating the market average by 50% We have seen a roaring bull market nearly our whole lives One day that will change Bruh find me any banker that actually understands investing that pulls in 15% year after year so I can give them every single penny I have and all the rest to come You act like 5% is anywhere close to 15%
$150,000 at 5% for 30 years is $648,000
$150,000 at 15% for years is $9,931,000
The 72% yr over yr I made and the probably even larger return you have owning a business is not going to last forever
Not sure where you got this info but they had returns of over 50% last year in their tech fund.
Just depends on your risk tolerance.
Moving $150k to Chase isn't best option. Today other banks pay up to 5% on saving accounts. Interest in Chase bank is a joke. I have investment account in Chase but don't use it. Prefer safety earning of 5% on saving account in different bank, over making risky 5% investing on market.
No need to keep the money in savings or checking. You can also use a JPMorgan self directed investing account.
This is bad advice. CPC is NOT worth it... Perks don't add up to more than what you're losing on interest , if you placed your $150k into a high yield savings , or T-bill @ 3- 4.5 %
Exactly, I feel like if you’re hell-bent on having this account then you’re better off just paying $35 a month but keeping your money elsewhere
You don't need to leave it in cash. You can buy anything using a JPM self directed investing account.
Thank u very much
I just finished watching another video where they basically said Private Client has close to no value, but you say it's the best thing since sliced bread. Whatever... :/
I speak as a current CPC customer. If you have the knowledge, skills and time to manage your own money, CPC is NOT a good option because each product contained in the program is mediocre at best. After a few years of handling 401(k)s, IRAs, mutual funds, credit cards, bank accounts, stocks, bonds, etc. on my own with multiple vendors-so I could get the maximum benefit while keeping the cost low, I realized my time is worth way more than dealing with individual vendors. Also, I simply didn’t have the time to keep myself informed of the current trends, either, and make informed decisions. So, having all of these products in ONE place with one assigned banker and one investment advisor is a gift from god. They will handle everything for me, and I am saving SO MUCH of my time. It is all worth it. With this said, if I were a bit younger and had more free time, then I would definitely not be going for CPC.
As with everything, depends on what you value. I love the more personal touch and some of the random little things like being able to mobile deposit a $10k check (my limit was $5k before) actually mean a lot to me. For someone doesn't deal with >$5k checks regularly (I do for my business) then that's zero value to them.
There are a lot of little things like that which add up for me and seems like the OP as well. I don't buy into the cool events and stuff like that since 99% of people won't live where those are happening. Also note that OP said in comments he has to hold balances for his business - right now my business stuff is not with Chase but I see value in Private Client for moving those accounts to Chase.
I think the truth is somewhere in between - I've had it 3 months or so and I'm enjoying it but if someone doesn't already have or want a significant relationship with Chase it may not make sense.
You “guess” that’s what they are doing? They are lending your money out at like 10x. You doing them a favor
Okay. But for him to offer u a date u must be in 8 figures
I’d do Swab…
Naw.
Private client advisor is useless job to be honest. I have investment in Stock market and I had never get valuable advice which would benefit me good in the end
The question is ... Does the private client remain in the public jurisdiction?
Seems scammy
Does being a CPC mean that you can get the JP Morgan Reserve Visa or not?
no
No they don't help you like this guy is saying once I went below 600k I'm treated different and their demeanor towards me is very different now and there goal now is to get you in an out not very helpful anymore
Sitting $150k anywhere is losing !! Let alone for perks !
Your income can be in any kind of account, investment accounts as well.
@@glorialove7467 Not the self-directed investing account according to the terms and conditions for years now. It must be a JPM managed investment account or personal checking or savings account (business accounts are excluded). Figure out what that will cost you just in fees and if you are happy to pay that then more power to you. They've been soliciting me for CPC for over 10 years and I just received a $3000 bonus offer yesterday, read the terms and tossed it.
Been a CPC client for 3 years, it’s not special or anything like that..
Cashapp ya boi maybe? It's rough out here
@@TheGovernment lol
I really appreciate this! Your channel deserves to be at 100k + subs 🔥
you can also just pay 35 a month
I'm trying to decide if it's worth it because having a dedicated team to second-look my money is something I'm really looking for. I'm in my younger 20s and for $35 a month to get that access sounds very intriguing.
OK so I’m not crazy? People make it seem like it is such a big deal that if I don’t deposit $150K into the account I have to pay $35 a month. OK and? I try it for a few months, decide if I like it, if I don’t, I downgrade the account. Like bro I’m spending hundreds on Uber every month I don’t care about $35😂
this was a cool video, I appreciate the feedback experience you encountered. Good info, subbed and liked.
If i was the bank i would push so hard for access to minimum wage private clients to catch all the simps
Is that your real head?
I'm sold 🤔
Hardly compelling reasons.
Great video! Solid stuff sir. Ill follow
I really appreciate this! Your channel deserves to be at 100k + subs 🔥
I switched to UBS
This is total BS. I can guarantee this guy is either getting paid for this or he works for Chase. I'm a chase private client member. The monthly management fee is way too high. Don't believe a damn thing he said. 👎👎👎
I am a CPC customer, too, but what monthly management fees are you paying? I pay nothing, and I have never paid any fees, ever. Maybe you fell below the $150k minimum threshold, in which case it really isn’t CPC’s fault that the monthly fee is being imposed on your account… If you are talking about investment products, then you ARE free to pick no-load products with low operational cost. It doesn’t have to cost you anything at all.
Theirs multiple different investing account types. Each has different fees. The two I have tried (Self and robo) were both very reasonable. Considering the robo refunded the etf fees.
@@nondescriptnyc Yeah the private financial advisor got him into products with high commission rates. Believe me they are looking out for their own well being. Its his job to make as much as he can to finance his own lifestyle.
@@stackinpaper Ohhhh, we are talking about the JP Morgan’s fees-and not Chase fees!!! Sorry for the confusion. Sure, yes, they DO tend to discourage you from buying no-load mutual funds, index funds, etc. etc., but I told mine that I was taking my money elsewhere if she continued to push high-fee products. JP Morgan products are mediocre at best, too, so I had to tell her I wanted to stay away from JP Morgan’s own funds.