Whether you’re just starting to invest or need to evaluate your existing strategy, your Financial Advisor will help you prioritize your goals and
develop an appropriate approach tailored to your situation. Together with a Banker, you'll receive a powerful combination of banking and investment
expertise to help ensure your money is working hard for you.
Chase Private Client is designed with customers' needs in mind. Clients will have a team of specially-trained professionals who bring together
premium banking solutions, available only through Chase Private Client, with access to the expertise and investment capabilities of J.P. Morgan.
In 2016, Chase Investment Services ranked the last the annual U.S. Self-Directed Investor Satisfaction
Study by J.D. Power. USAA
Investments recieved the highest score. However, it was not included in the final rankings because it is "open only to U.S. military personnel and their
family members," stated the JDPower.com. Nevertheless, a full range of USAA self-directed investments and wealth management services are
available to the general public as well.
Cons: High fees, advisors have no real knowledge and are incented to get more fees out if you
Horrible experience. I had two advisors and the last one complained about the first one. Basically she blamed my poor returns on the old one. Then, when I decided to leave, it took weeks to get someone to get me out of the "managed account." In two years...invested 535k. Account now worth 537k and market is at high. Paid over 30k in fees. Paid taxes on 20k worth of dividends. Run away from chase/jp Morgan. They are worthless.
I invested about $1,200,000 in the so-called managed brokerage account last December. The advisor did nothing but making conversations with you. You have no control over your account. The idot trader buyed 50% of bonds for me. Even a fool knows that the bonds will go down because of the interest hikes. The gains earned from the bonds are barely enough to cover the fees they are charging. The face values of the bonds decreased by an average 5% in just 3 months!. In a bull market, I am losing money. They are dishonest, deceptive.
Like everybody else, I got selected by chase private client (they probably thought I had a lot more money). They even tried to get me to roll over my vanguard, but I didn't follow through with paperwork. What a foolish thing to have opened this brokerage account. I wish I had read the reviews. Account performed dismally for the entire 6 months it has been open, all while my vanguard IRA is doing nicely.
Stay away, you're probably better off doing it yourself.
Also the website and interface is abysmal, I can't even understand what's going on.
Cons: Lie, cheat, ignore you. Won't make a dime.
They act legit but they lie to you. I have been through 3 advisers and one ignored me when the IRS came after me for money I did not make. One adviser ignored me for 2 hours for my appointment, so they switched me to a different one. The new adviser said I will make 7-10% and be in the millionaire club when I put in waaay less than that; well I closed a few days ago and my money is the same as I put in!!!
He claimed I made 7% and I made 6K alone this year. I've been getting 1099s for years saying I made 1.5-2.5K. Well where is it??? My money is the same as I put in. It all went to paying the IRS and accountants to do taxes when I didn't need one before I joined their services of investments. It goes to their fees and the commissions.
They claim the portfolio is doing well. All that happens is u lose and you gain, u lose u gain.... I'm lucky if I get my money out. But If I left in a CD for 5 years I would have made 10k, so I just lost all that and walked away making nothing from them.
Run away for Chase Client Services. Their paper work and computer records are deceptive. Know how much you put in and how much u have now. It's either down or the same. I was with these clowns for 5 years. They said it take 5 years to see gains and I still saw nothing.
When u want to get out they will say "It's not for You, Do it..." Then spend 20 minutes getting u to stay. Then they say if u take it out u can't come back. Well goood! I'm waiting for my money to show up in my account.
by Ali. C,
Basically the same story with everyone. I put my whole life saving into this managed account almost 3 years ago and I am still -2.6k (negative)
the last 30 days or so, the performance is a little bit batter.
I will wait another couple weeks then I will take my money out.
Pros: None - Stay Away!
Cons: Only Chase Makes Money, Poor Investment Concept Based Upon Risk Tolerance, Offers Zero Investor Benefits
Chase Private Client deserves no stars as it offers no investment advantages and leaves its clients losing money in total darkness. All investing is done by unknowns with no understandable strategy other than to charge high fees. Two years experience in a bull market left my investments in negative territory the entire time. All two years spent was attempting to get my original investment back without success. I agree completely with every negative review comment shown on this site This entire investment service is deceptive because a person is led to believe Chase offers an investment advantage due to its name in the banking business. Not at all! The investor ends up paying Chase high fees to lose money. All investing is remote and in a dark hole somewhere. The entire investment commitment is based upon a single word choice involving risk tolerance, i. e. conservative vs. aggressive, etc. The investor is left with no advice or say in how the money is invested. In addition, everything is in a delay mode so there is no control over buying or selling at advantageous times. It definitely deserves its ranking as last in the 2016 J. D. Power Satsfaction Study.
by Martin V,
Cons: Fees are obfuscated, reports change every cycle, worst returns possible
So this year should have been solid returns if you look at Jan 2016 - Dec 2016. Not so much with Chase. My managed IRA had 2% losses over the year.
Their reports no longer clearly list the fees, they're obscured. I'm also becoming more and more suspect of the selected funds, with such losses, ~someone~ must be making a profit burning my money, *wink* *wink*,
Chase private client lured me into believing they could provide 5%-7% returns on my IRA for marginal fees, I had the head honcho and the fund manager convince me in rolling the IRA from my previous job to Chase. NEVER SHOULD HAVE DONE THAT! I should have simply left it where it was in hindsight.
Over the last 3 years, even conservatively comparing to Russel indexes, I should have had at least compounded roi of 10% (incompetence) to 30% (well managed). Instead, over this period I am maybe 1% in the black....
At the same time my personally managed brokerage account I have had a gain of 40% (some solid jblue, LM, nxpi, etc). And I am not the greatest investor ever, even with half of that down to plain old luck, ANYTHING will give you better returns than Chase.
Taking into account inflation, they have burned about a good 10% of my money so far. Enough. Will roll into Vanguard.
Cons: Poor service, poor results
Was solicited by Chase Private Client, needed to move some money over to get to the $250K mark, once I did they said they would contact me in a week or so to go over investment goals and strategies. Never received a call. All they wanted was my money and once they had it, that was the end of me. Will be moving somewhere else soon.
Horrible experience. High fees with advisor making money for doing nothing but losing me money!!! Don't waste your time!
Cons: Invest to loose $
They really have no clue about investing, I'm with them for 2 weeks and I lost almost $5k.
by Nolan Miller,
I have a "Premier" Client investment status because I have over $250,000 with them. This is a managed account. The BEST they have to offer. BULL SH$$. Investment value is down 3% when Market is up 3%. Do NOT put money with JPMorgan Chase Put it in a bag under your mattress and it will do better.
Pros: Nice guy
Cons: Nice guy
Invested 200K 2 years past.Currently still 7k below water and I have paid 6000 in management fees!!
Why am I still 7k below water when the market is at an all time high??
As Monty Python would say "Run Away,Run Away" from Chase.
High fees,caustic investments and very poor return,but wait I still paid 1.5% per year for the pleasure of no investment attention and lost funds!!
by Kimberly ng,
If I have a choice to give no star, I will do. I invested a large amount of money into this account. Over 2.5, I still can't get the money out because I lost too much money. When I called to close the account, they told me that the money will be deposited to my checking account the next day. However, after 4 weeks, just only partial of my money amount was transfered to my checking. This is rediculous.
by One more customer,
Cons: Poor Service
High Fees, poor investment performance and they do not follow the rule "buy low and sell high"
Cons: Deception and Incompetence
The market has done very well since my last post. However, my portfolio is still sliding. The imbecilic kids’ approaches are mostly to buy high and sell low. One position they love the most is a controversial or fraudulent company, VRX. They bought for me from $260 to $102 while most Wall Street analysts raised the red flags. When the stock hit the bottom on 3/1 at $59.87. They started to trim the position and I lost 67%. They bought another fraudulent company, ZFGN, at low $50s or high $40 then liquidated at $6 and I lost 85%. They did buy a few blue chips to mask their insatiable appetites for garbage stocks. The problem is that the good stocks typically move up slowly but these kids have no patience. They don’t care because my money is not their money. The more I lose, the more they gain. Stay away from Chase.
Cons: Poor service, deception, negligence
I accepted an invitation to participate in this program because my sister works for the bank and the private client banker was so personable that it seemed worth a try. The investment advisor deliberately avoided any questions about specific fee amounts, saying only "of course there are fees... but the investments are targeted to make 5-7% net of fees." He tried to get me to sell my only other taxable investment arguing that Chase would give me much better service. Meanwhile, the other account charges a $175 annual flat fee and the advisor calls me monthly to tailor the account to my needs, asking whether I would like to reinvest or cash in my dividends, for example. The Chase representative sees me only when I contact him about once a year, he admits that he is just a "middleman" and that all decisions are made by the investment gurus. He has given me bad advice all the way. They are also not fiduciaries, but are not clear about that and will often pretend to be. They also did not send me one of my 1099s that went with a one-time sale of bonds. If you add up the excess money I have paid in taxes, the cost of my time to prepare amended tax returns, the loss of tax deductions for deductible expenses, the stratospheric 1.6% fees and the costs you absorb with their policies of automatic reinvestment of dividends and the constant churning in their accounts, I have lost about $10,000 of a $120,000 investment. Reading the other horror stories available on-line I am clearly not the exception. Furthermore, I have not had opportunity to take advantage of any of the perks-- I have always had enough money to bank without fees in any bank, without having to pay thousands of dollars a year in fees for the privilege. The investment bankers are nothing but salesmen, with little real expertise (at least the one I have). The tax nightmare they created for me alone has resulted in so much stress that I still do not know how to resolve it. I wonder if all of us are at fault for allowing ourselves to be duped by them or whether there is any way of holding them accountable for deception, subterfuge, and negligence.
by waiting to pull out,
put to chase private account $200K, the adviser has been changed three times and we don't even know. lost $20K as of now... can not wait to pull money out from the Chase Account. Worst performance ever!
Cons: High fees and dreadful performance
Like the previous poster, I gave them some of my hard-earned money to join their private client group even I have been a very successful investor myself in the past. That was a huge mistake that I ever made.
They are the worse financial mangers or should I say the best financial crooks in the Wall Street. They took my money and lost incessantly. Worse, they keep charging me .4% fees and my money has been depleted more than 35%. Apparently they employ a bunch of kids to fleece customers with high fees. When the market was up, my account barely moved. When the market was down, my account went for a free-fall.
Cons: You lose money + fees
This is an update from my previous review posted as the same name.
It's worse than before, and I don't know how much worse it will go. As of today I it's -$7582.37. Minus $7582.37.....! This is terrible. It has been bad and I have been waiting for the timing of closing the account, but now I am lost.
Should I close the account before I lose even more money? I should have closed it when the loss was less than $2000, but now I don't know what to do.
The adviser says, "It fluctuates," but it has not been positive value for a long time. The only time it was positive was when I just opened the account and before the fee was taken out of the account. I think they collect fees every three months, so after the first fee collection, it is going downhill and keep going down.
It would have been even better if I put it in CD or something.
Cons: AWFUL Customer Service
Chase Investment Services has the worst customer service I've ever experienced with a financial institution.
Two months ago, I was traveling outside the U.S. and wanted to take a distribution from two different brokerage accounts. I was able to request a distribution with one call to State Farm and a faxed request. Chase was a whole different story.
The first representative I talked to said he couldn't help me because I was outside the U.S., even though I am a U.S. citizen residing in the U.S. and was just traveling.
The second representative was with a different department that handled "overseas" accounts. I was at least able to email this person, but was completely unable to request a transfer without a voided check. Even though I sent the same form printed from my bank that had the requisite info, they would not accept it.
When I returned to the U.S., I tried again with the original number, this time with a voided check. I was told to fax the request to the number on the distribution form. I did. A few days later, I called back to check status. The person I spoke to told me to email it to her. She then rejected it because my signature didn't match the one on my passport. I resigned and sent back. She rejected it because she "can't affect partial forms". She generated some request through the message center and told me to print the form in the message center, send it back, and then call again!
I did this. I called again. It took two more representatives before I was able to get a distribution. During these two calls I learned for the first time there is a $75 termination fee (which I cannot find any information about online). Supposedly a check is on the way.
I'm not sure how they could have made this process more difficult, but I will be warning everyone away from Chase Investments from now on.
Pros: Nothing really
Cons: You lose money
It has been almost 11 months since the account was open. Since the fee is expensive, as a result I've been losing money. The account has not been able get out of negative status for a long time. Today, for instance, is -$2875.28. In other words, I have $2875.28 less than what I had in the beginning. I should have kept the funding in a saving account then I didn't lose money. Now I am unable to close the account because I really don't want to close it when the number is negative. I have been in a damage control mode, waiting for the account to become above zero dollars. And I have no idea how long it takes to get out of the bad situation.
Pros: Not much
Cons: Incompetent advisors
Pretty hard to trust that your money will be well-managed when the advisors can't manage their internal paperwork correctly. I converted my investments to cash for this reason, and that apparently means you will be treated w/ rudeness, disrespect, and obviously not worth their time. Have to make repeated calls to have money traded from IRA into my checking acct. (I'm newly retired). It has been a full year of nothing but trouble and worry. Put your money ANYWHERE but here.
Pros: Nice, and willing
Cons: Does not help where it counts
I have been with Chase for a few years now, and my investments have been tailored to fail, T tried talking with my adviser which changed things up which I find out is the save investments some by different names.
Any burp in the market you loose big, you never gain like that.
Ill be pulling my money out soon, they apparently don't know how to invest my money.
Over many years I dealt with Chase for both personal and business banking. In almost every instance I found them to be a disaster. Their entire business seems to be set up to be self serving with little, or no, regard for the client. They like the multi million dollar clients and if you are not in that category, they simply only tolerate you.
Cons: "advisors" are not adequately trained
JPMorgan/Chase "advisors" are not adequately trained. Their object is to get as much money from you as they can. You are just a mark to use to meet their branch's production goals. Any dispute action you bring will be "resolved" in JPMorgan's favor. There is no accountability in this Citadel of Greed.
Hahaha. No different than any other "full service" brokerage. Looking out first and foremost for themselves! In exchange for good service you get stuffed with dubious investments designed to pad their bottom line.
Cons: Terrible customer service
Do not recommend working with them, they provided terrible customer service as well!
I’ve had bank accounts at Chase for many years, but last September, I was solicited by Chase Private Client. This required a minimum balance of $250,000. There were a number of things that made sense for me, especially fee waivers on normal banking things, so I transferred my IRA to them from Ameritrade. Their trading platform is pretty poor by comparison, but since I mainly just add to existing positions, I thought it would be ok. Then, early this year, I moved back to the States abroad. We were paying cash for a house and since we were a bit short of the amount to buy the house we fell in love with, I decided to borrow against my taxable brokerage account, still with Ameritrade. Well, Ameritrade’s margin interest was higher than Chase was charging, so I moved my other account to Chase as well. What a mistake! It has been a disaster ever since. I should have taken the hint when the investment advisor told me that she struggles just to get her clients to open their quarterly statements. Being an active individual investor and having built a long-term dividend portfolio from scratch, I should have taken the hint. Chase is set up for people who pay no attention to their accounts, and let an advisor make all the decisions. Their trading platform is awful, as I already knew, but their customer service is also cumbersome and unwieldy. It takes days for them to answer simple emails and mistakes are regularly maid. I make a trade and they debit my cash account twice, for instance. Fees are charged that weren’t supposed to be. Yes, the credit me back, but I have to make the phone call and wait days for a response. If you manage your own account, do NOT go to Chase. Got to Ameritrade, Schwab, Scottrade – any brokerage that focuses on individual investors. I am now, after only months, going back to Ameritrade, even though I will have to pay a higher interest rate on the margin loan, because they are so so so much better than Chase. And, Chase’s trading fees are $24.95 per trade, vs. Ameritrade at $9.99. As a long term investor, I know that small amounts add up to big amounts over long periods. Stay away from Chase.