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JP Morgan wealth management customer reviews, complaints, ratings. Chase financial advisor managed account pros and cons, brokerage fees. Is Chase Private Client a good and safe firm to invest with?

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Chase Wealth Management, Financial Advisor Reviews

by James,  11/20/2023

Pros:  NA

Cons:  Greedy corporation just wants your money and don't care about your performance.

Review:  All they do is put money in sp500 and tell you to wait 10 years and hoping that you might make profit. Literally an advice that my 7 years old son could have gave to me. And taking couple hundred dollars month for the management fee? Don't waste your money to these greedy corporation.

by Roy,  9/20/2023

Pros:  None


Review:  My experience with the Chase managed brokerage account has been nothing short of a financial nightmare. I entrusted them with $50,000 almost four years ago, and it's been a rollercoaster of disappointment. At one point, my balance plummeted to $36,000, only to crawl back up to $47,000 before descending once more.

When I finally decided to cash out on 09/19/2023, I was greeted with the harsh reality that my account was worth a mere $45,513.50. That's a staggering 9% less than my initial deposit. I strongly advise anyone considering Chase for their investments to look elsewhere.

But what irked me the most was the attitude of their so-called financial advisor. They never took responsibility for the dismal performance of my portfolio. It was always someone else's fault—the market, COVID, the Ukraine/Russia war, or even me for daring to check my account too frequently and having a low risk tolerance.

To add insult to injury, Chase now has the audacity to increase their fees staring next month (October 2023). Save yourself the headache and explore other investment options. Chase's managed brokerage account is a costly and frustrating disappointment.

by Tom C.,  5/8/2023

Pros:  None in my experience

Cons:  You will be charged $75 to cancel your newly-opened account even if you are totally dissatisfied with their service. I had a horrible experience.

Review:  I was lured to transfer my 3 self-directed investment accounts to JP Morgan by their cash bonus offer. It was a HUGE mistake! Opening the new accounts was fairly easy, but transferring the assets was a nightmare. I was totally happy with the customer service I was getting from TD Ameritrade, but because TD Ameritrade was merging with Charles Schwab, I figured, if I was automatically being switched to another brokerage firm, I might as well get paid for it. I saw that JP Morgan was offering cash bonusses for new or transferred accounts. I anticipated it would be an easy process transferring our accounts to JP Morgan/Chase. But following the instructions to do a "total transfer" didn't work for me. I kept trying and no matter what I did I kept getting error messages. I called JP Morgan/Chase customer service. It's the same phone number for Chase Credit Card customer service as it is for JP Morgan Self-Directed brokerage accounts. Their automated phone system gives NO option to connect directly to self-directed investment account help. After choosing an unrelated option you can finally get transferred to the stock brokerage help people. I had to keep calling them back describing the problem I was encountering. I followed their advice, (steps I had already tried several times) and got the same unsuccessful result over and over again. I wasted several days trying to accomplish these transfers. Frustrated with getting no solutions from JP Morgan client support, I called TD Ameritrade's Client Services and they figured out immediately several possible things that I could try. They stayed on the phone with me as I followed the tips that allowed me to finally transfer the assets to fund one of the newly opened JP Morgan/Chase accounts. As I waited to see if that first account would successfully transfer I received a call from TD Ameritrade asking what spurred me to transfer our 3 accounts to another firm. I explained that I was very happy with the service I had gotten for years from TD Ameritrade, but since the merger was forcing me to switch brokerage firms, I figured I would take advantage of JP Morgan's cash bonus offer. Then I explained how I was totally dissatisfied with the way JP Morgan made it impossible for me to easily connect to a client services rep with the knowledge to solve my transfer difficulties. When I was assured that the same TD Ameritrade Client Service people were keeping their jobs and continuing to work for client services with the accounts being moved to Charles Schwab, I decided to bring all our accounts back to TD Ameritrade where I would continue getting the quality service I had grown used to. I had only successfully transferred the assets to one of the new JP Morgan accounts. When I ordered those assets transferred back from the newly opened JP Morgan account they charged me $75 account transfer fee! I had only had the account open for 3-4 weeks. It had take me most of those days to finally be able to transfer the assets. So I contacted JP Morgan via secure message requesting that they waive the $75 fee because because I was totally dissatisfied with the inability to connect to or get knowledgeable customer service. They refused to waive the fee.
Apparently, JP Morgan does not have a 30 day customer satisfaction guarantee. My advice is, if you are getting good customer support at your current brokerage firm, or you are opening a new self-directed investment account, try some of the other companies out there. Good, fast, and reliable client service is crucial when dealing with your retirement funds or life savings. I wish I had never started the account transfer to JP Morgan/Chase.

by Timm Lotspeich,  10/18/2022

Pros:  Convenient locations in Chase Banks.

Cons:  Self-serving individuals masquerading as wealth managers.

Review:  My 83 yo mother placed a $50,000 IRA and $200,000 in non-IRA funds with Chase 'Wealth Management" at her local bank branch in Menefee, CA. I was unaware of her actions. On a recent visit she brought out several of her monthly account statements, which were more than 40 pages in length and very difficult to assess what exactly was occurring. Turns out, upon her initial visit, she had been interested in an investment portfolio that was low risk with a skew toward capital appreciation yet also preservation of said capital. After reviewing several of her account statements I was able to show her where they had placed the vast bulk of her funds in various Chase-branded ETF's, bond vehicles, and a couple of Chase mutual funds, all of which had front-end loads. Additionally, I found where they were charging her hundreds of dollars every quarter for their services, which included free checking, yet the invested money was earning a pittance of around 1.2%. Over the past 5 years (2017-2022) while the market has been performing strongly, her funds had declined nearly $20,000. During that time the only money that she had drawn out were her RMD's of roughly $6000/year from her IRA. When we transferred her accounts to Schwab in September 2022 her account rep was angry, stating that we should have discussed it with him and that now she would have to pay for her checking, which is $7/month. Significant value of her remains funds were invested in bond ETF's and mutual funds and were losing value month after month. Any accredited investing professional knows that bonds are a lousy place for your money during a period of rising interest rates, like we are currently experiencing. 100% of her brokerage account was in 11,403 shares of OGIAX, JP Morgan Investor Balanced A. This house-branded fund has a 4.5% load, a 0.25%12b-1 fee, and has an annual return of 2.46% over the last 5 years. It is a fund of funds, consisting of numerous other Chase funds, many of which are bond funds. I sold it on 9/14/22 for $14.66 per share. Today, 10/18/22 the price is $13.89 per share. Had I not gotten out of their "investment choice" my mother would have sustained additional losses of $8,780. Avoid JP Morgan Chase Wealth Management. The only people making money there are the ones charging the fees and churning the accounts.

by joe stark,  8/24/2022

Pros:  none

Cons:  Financial advisor doesn't listen or act upon my request to put less in stocks and more in safe..

Review:  I retired Dec of 2019. I rolled my 401-k over to chase and set up a private client account. I rolled $216,000 over to chase. I told them that 2020 was going to be a very bad year for the market and I didn't want 40+5% in the stocks. She ignored me and my portfolio lost about 30k in 2020.
In 2021 I made most of it back. I then told her that 2022 was mid terms so the market would be doing a repeat of 2020. She didn't listen. In the first 1/4 of 2022 I lost $45,000 and now my account balance is $220,000. Three years into retirement and my account lost so much I am not able to count on it to supplement my income. My problem is how do you trust someone whose main goal is to make as much money as they can off your retirement portfolio with no regard how that affects your income during retirement?

by Antonio V.,  3/22/2022

Pros:  None

Cons:  Terrible Advice - Clueless

Review:  I worked with a Senior Vice President of Investments at the 42nd Street branch and had a horrible experience. He knew I did not want to risk my investment because I was nearing retirement, but nevertheless had me investment a large sum a money in an investment he and his investment advisors knew would decline in value as interest rates began to increase. Despite having my money for several years and paying a fee of approximately $1,000 a month "management" fee for no management, I got absolutely no return on my investment and actually lost money. Avoid these guys as much as possible.

by Denny Lucw,  12/9/2021


Cons:  JPMorgan Investments

Review:  JPMorgan investments are not to be trusted. They wont give you your own money ! They misrepresent themselves and indirectly commit fraud. Don 't invest with them.

by Annette C,  9/22/2021

Pros:  I agree with the previous poster

Cons:  None

Review:  All the negative reviews look like they were written by a 7 year old. My experience with JP Morgan and Chase has been nothing but positive. My advisor and private banker are based on Water St in NY and they routinely go above and beyond to make sure my husband and I are taken care of. I've referred multiple friends and family members to JP Morgan and will continue to do so.
Don't be fooled by all these fake reviews

by It doing it all,  1/16/2021

Pros:  Don’t know

Cons:  Not doing it

Review:  I received a phone call from my local chase bank and the young lady was forceful reminding me that she’s called me several times and I didn’t answer. Duh? This is my phone I answer when I want to. They are calling me to enroll in the Client investment Services. After reading these reviews I will not be going to that appointment. Thank you all for sharing your experiences. If I invest I wouldn’t go to a bank anyway. I’d go to fidelity. Due to the Internet I can make my own investments as I already have several accounts. Again Thank you.

by Michael schiffman,  1/14/2021

Pros:  None

Cons:  Everything done is wrong

Review:  Im my life ive never experienced worse ! Not only do they not know what they’re doing but the broker outright lies repeatedly admits it in an email and continues to wreak havoc on our accounts
If I could give a negative rating that would be a better choice

by Sam,  12/22/2020

Pros:  Advisor Perspective

Cons:  Client Perspective

Review:  Why the correlation between negative reviews and poor grammar? Also most of the negative performance comments imply a short period of time with high ROR expectations. If you can't tolerate risk (which 9 out of 10 of you say you can but bail after small, temporary losses) then Advisors have to mitigate with bonds. Stock market goes up 20% and you question 12% on your statement. Market goes down 20% and your statement shows negative 10 to 12% and you're upset. No win scenario unless client and Advisor understand each other.

by Oliver,  8/27/2020



Review:  Chase bank and J.P.Morgan and Cotporate cover make excuses for finiancial Advisors that ignore clients instructions they do what ever pads their pay checks! Dont care how much of your money they loose still trying to find the 200,000.00 she took out of my checking& savings accounts they refuse to find out where its at one is covering for the other along with all the other instructions like when I. cashed in some Ford stock money was supposedvto be in my account next day its not 2weeks later I find out she put a Hold. Froze it corporate. Un froze it. Then she took away all my dividends has been reinvesting them to get the fees$ whithout permission cant get honest answers got to move funds to a master money market City bnk. Pays higher intrest the horrible aggravation they keep creatingis endless I could write a book stay away from Chase bnk. J.P.Morgan!!

by Oliver,  8/24/2020


Cons:  Celena Beryl Howardtransfered

Review:  Transfered Ford stock to broker.transfered Electronically to JPM 1000000.00 to my checking Then another 1000000.00 took 2000000.00 says in a over seas acct.?cant find it then claimed me Deceased which closes the acct. Asked for a audit from corpt. In 2 days corpt called said every things ok?? Even their crooked.then the finincial advisor wants a itemized list of all my bills$ She Nuts gonna give me an allowance out of my 2 mill in investments brought my attorney in the office. With no notice 2mths. Later a new finiancial advisor called celena Beryl Howard transfered 50 miles away out to chase in waterford twp. Still cant get answers to where my 2000000.00 went must of went in the finiancial advisors pocket cor]orate dont care

by Cindy,  9/18/2019

Pros:  NONE

Cons:  Many

Review:  Nightmare! The fees will take any and all gains! Don’t even consider investing through chase!

by ,  5/31/2019

Pros:  none

Cons:  Money is Out of your control

Review:  I opened a CPC investment account two and half months ago and gained $4k, Then I got a call from my agent's upper management saying that my portfolio didn't give me the best benefit because the funds I had charging too much overhead due to the variety and they wanted to undo my investment to my original deposit value then put my money to a new portfolio which is all under a single company even though I said I don't care about the overhead and I was satisfied with my investment return, They just go ahead the undo process without my permission even though it is my money and I don't like the new portfolio and my $4k gain is just gone. They spent 10 weeks to do bait and switch tricks to new customers and who knows where my $4K goes. So you spent a lot of time to build your portfolio and in the end Chase just want to sell you something they want to sell.

by Patricia primrose,  3/22/2019

Pros:  None that I have observed.


Review:  As a Chase Private client, I am very disappointed. The service at my branch is not the same. Since more ATMs were added it seems the floor staff know less than I do and there are less people to service customers. Just letting you know I am a Republican and am shocked that your bank is closing accounts of conservatives. Politics should have nothing to with banking. You may be inailinating half of your customers. I await changes or at least a statement from corporate that they will become neutral regarding politics. Otherwise I move on. I realize that the amount I have with your bank doesn't amount to a hill of beans.

by DisAppointed,  1/28/2019

Pros:  none yet

Cons:  Unusual notice by phone

Review:  The Private Client advisor called me on 1/25 to say the mutual fund in my account
is no longer affiliated with Chase and must be sold. I never got this in writing.
I will incur an instant capital gain of $32K which I was not expecting. Never got this in writing.

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