Chase Private Client: What Are The Benefits and Is It Worth Joining?

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Chase Private Client is banking for the elite. Or is it? Is all that personalized attention and dedicated service just for the wealthy or can anyone qualify? We’ll help you figure out what it takes to qualify, what the benefits are, and if it’s worth it to sign up as a Chase Private Client.

chase private client

What is Chase Private Client?

Chase Private Client offers a range of exclusive benefits for top Chase clients, from premium banking solutions, personalized attention, and the expertise and investment capabilities of J.P. Morgan. Essentially, it’s more or less exactly what it sounds like: personalized banking and investment solutions tailored to meet your needs.

Chase Private Client: personalized financial solutions

Chase Private Client: personalized financial solutions

Basically, as a Chase Private Client, you’ll be assigned a team of banking professionals to help you determine and map out your financial goals. That includes a Private Client Banker and a J.P. Morgan Private Client Advisor. You’ll be able to reach out to them over the phone, via email, or at a local branch to get advice and guidance when you need it.


Concierge Banking with Chase Private Client

Chase Private Clients get premium banking solutions that include priority service, no-fee banking, no ATM fees, and no exchange rate adjustment fees for purchases made while traveling in foreign countries. Other benefits include:

  • No Monthly Service Fee on Chase Private Client Checking or Savings accounts when linked to any Chase Private Client Checking account
  • No annual rent for 3 x 5 Safe Deposit Box (subject to availability) and 20% discount for larger boxes
  • No stop payment fees
  • No fees for money orders, cashier’s checks, counter checks
  • Access and admission to select arts and cultural institutions across the country
  • No Chase fee at a non-Chase ATM – including international ATMs. Additionally, ATM fees charged by the ATM owners are refunded up to 5 times per statement period
  • A discounted rate when you purchase a home with the Chase Private Client Mortgage Rate Program
  • There aren’t any Chase fees for domestic and international wire transfers available in person, online, or over the phone
Chase Private Client promises to help you prepare for the future.

Chase Private Client promises to help you prepare for the future.

Investments with Chase Private Client

On the investment side of things, J.P. Morgan investment capabilities mean retirement planning, portfolio management, annuities, and even saving for college. Financial advisors help you plan adjustments as your lifestyle and goals change, developing strategies to save for the future. They’ll even guide you through a customized financial analysis to help you spend and save smarter now. Thus, it’s a way to feel confident about your financial future. As seen on the Chase site, that involves:

  • Aiding you so that you have a better understanding of your investment objectives, investable assets, time frame and risk tolerance
  • Help you manage your financial goals
  • Conduct a Customized Financial Analysis to create a strategy to help you reach your goals; there will be adjustments for unexpected scenarios you might encounter along the way
  • Offer advice on how should manage your financial decisions as you move through the different stages of your life
Chase Private Client offers personalized investment plans.

Chase Private Client offers personalized investment plans.

Who qualifies for Chase Private Client?

However, not everybody can jump right into elite membership with Chase Private Client. To qualify, the first hurdle is that you must have $250,000 in qualifying investments and deposits. Rumor has it that if you come close and have been with Chase for years, you might be offered an invitation to join Chase Private Client, but that’s not a guarantee. The $250,000 can be in any combination of cash, bank accounts, securities, and liquid investments. The account must also be a personal account, not a business account.

The Cost of Chase Private Client

However, all of this doesn’t come cheap. A flat rate charge will be applicable for the total household assets under management. That includes checking, credit, taxable, and IRA’s. The fee is 1.25% of yearly assets billed quarterly.

Thus, this is comparable to other large investment firms. However, you can find lower rates elsewhere. Management fees can also be very high, as much as twice the amount of investments purchased from other services like Ameritrade. There’s also a $20 monthly fee on the Chase Private Client savings account.

Fees aside, the savings accounts are notorious for their low-interest rates. For example, online banks like Goldman Sachs offer 1.7% interest on deposits compared to as little as .01% on Chase savings accounts.

The Chase Private Client three-pronged approach to saving.

The Chase Private Client three-pronged approach to saving.

Is Chase Private Client worth it?

If you’re considering joining, do the math first. Additionally, if it’s investments you want, look into other investment options and portfolio management first. Likely, you’ll find better rates and returns on investment elsewhere. Same goes for mortgage rates. Remember: Just because they are discounted with the program doesn’t mean they are automatically the most competitive.

However, if you would save more on ATM and foreign transaction fees, mortgage rates, deposit boxes and museum entries than you’re losing in maintenance and concierge-type fees (that would take a lot of fees), Chase Private Client May be worth a closer look.

Keep in mind that many of the perks that accompany the Chase Private Client checking and savings can also be found in other Chase accounts. Likely, sticking with a less expensive checking account and opting for a different investment strategy will save you money now and in the long run. For those who want a more hands-on approach to investing, options trading isn’t available with Chase Private Client. However, if it’s full-service asset management you want and you are willing to pay a little extra to get it, Chase Private Client is an option worth considering.

Mary Renking

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Chase Private Client: What Are The Benefits and Is It Worth Joining?
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About the Author

Mary Renking
Mary writes about how to book travel with award miles & points, reviews top travel credit cards, and basic rewards news.

8 Comments on "Chase Private Client: What Are The Benefits and Is It Worth Joining?"

  1. I am a JP Morgan Private Client Advisor- this story is not all accurate. The 1.25 is not a accurate statement nor are some other statements in this writing.

  2. There is no service fee for bank accounts as a chase private client…

  3. I’ll put my .02 cents in. I’ve been a private client for a year now. I do not think it is worth it, at all. .01% for checking interest rate? Competitive bank in town offers .50%.

    .11% interest rate on saving account.. having $250,00 in my savings at all times, I’ve made $250 all year! Yay… not! Competitive bank in town offers 1.00% and 1.25% of you open a checking account too, which we obviously would. Sooo $2,500 a year or $250 a year. Which would you rather have?? I can pay $50 for my wife and I to get into a museum once a year, IF, we even went. I can pay $35 for a book of checks… I’m still making $2,300 more a year, just for having money in my savings.

    Chase private client is not worth it at all. For someone who and a quarter of a million dollars in a bank account, you’d think interest rates would be much higher.

    See ya chase.


    • You obviously aren’t the brightest bulb, huh? You can put the $250k in to a You Invest account through Chase and still qualify for Private Client which is a nice perk for general banking needs. Plus discounts on equity line rates among other things.

  4. I have chase Private client Managed IRA & trading a/c – I regret it. Once you get your $ into this a/c. you won’t be able to get out .. A/c manager will not allow you to withdraw or sell your holding.. I email him 3 times to liquidate my holding into cash –> in June 18, Oct 5, Oct 11 all in year 2018. My account is still in stock and JPM loosing fund. I have lost all gains in 2018 and to its in negative territory, stock trading a/c to -20%. I am looking to see if there are any class action lawsuit or SEC reporting tools .. against the Chase Private client.. any help..?

  5. I would say open youinvest trading accounts (not regular brokerage accounts opened in the chase office by a well dressed person with 24.95 commission per trade) and you will have a self-directed account at your disposal with zero commissions. If you are stock market averse just buy some moneymarket mutual fund and get a decent 2-3% apr instead of parking your funds in checking/savings account. I am a chase private client and there is no fee of any sort. You just have to be smart enough to hold it in the right account.

  6. Thomas Goodrich | January 27, 2019 at 8:08 pm | Reply

    As a Chase Private Client by inheritance for over a year, I am not at all impressed with the performance of my holding with Chase to date. Surprisingly, portfolio loss exceeds downturns in the S&P and recovery is only marginal on upswings. Since account inception I have never received any communication from my account representative in Arizona. Never a phone call; nothing! At this juncture I can only conclude managed accounts make absolutely no sense especially in the case of self-directed investors knowledgeable enough to purchase their own index funds! This is essentially all Chase appears to be doing catering to widows and orphans and charging a hefty fee for doing so. As another customer commented; who in their right mind would open a premium savings account (and subject to fees!!) for a return of one tenth of one percent (or less!!) annually?

  7. Chase private client financial advisers are all trained to get money out of your REGARDLESS of how your portfolio is performing. I was with them for over 5 years+ and showed nothing but losses. Every time i questioned them it was lie after lie and they eventually refused to deal with me (for fear I would pursue legal actions) and forced me to move my investment accounts or sell AT A LOSS. I finally pulled my money out but wasted more than 5+ years with NO returns. A total scam. BEWARE!

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