Chase Financial Advisor

[getoutearly]

Has anyone ever used Chase to manage / advise on their investments? I know, it is the dreaded "FA", but, does anyone have any specific experience?

 

[youbet]

No specific experience with Chase, but, please tell us what you are looking for. Some advise in handling a specific situation? Someone to just turn your money over to and wait for monthly checks to arrive?

 

[mickeyd]

Chase is such a huge organization. Are you refering to a guy that has a desk in the corner of the local Chase branch bank or someone else?

 

[2B]

If you are smart enough to find this forum, you are smart enough to manage your own money. Become a modified "Couch Potato" like me. If you pay 1 - 2.5% in management fees, you won't ever make it up with their "superior performance."

 

[73ss454]

2B is on the money. I found this forum 2 1/2 years ago and learn something new everyday.

I was sick for a while when I figured out how much I spent for the so called advise. Now all my money is in Vanguard and I'm a happy camper.

2 of the many things I learned here 1) don't speak to brokers or FP's. 2) don't buy whole life ins. Both of which I did before I found this forum. Save yourself from getting ripped off and just keep reading this board. Also spend some time reading some of the books that are advised here.

 

[kumquat]

See Dilbert's rule #9 ... er no, see them at http://tinyurl.com/gn5d6

 

[FinanceDude]

Has anyone ever used Chase to manage / advise on their investments? I know, it is the dreaded "FA", but, does anyone have any specific experience?

A lot of the newer ones were bankers a year ago, and have little or no direct experience in managing money. Your options are severely limited to 5 fund families, Chase's proprietary funds (JP Morgan), a couple annuities and a mutual fund wrap account. They do not provide advice on stocks or research.

They have two other areas that DO manage money............PCS (Private Client Services), where you need a minimum of $1M to invest, and Chase Private Bank (their best option)........but $25 MILLION is the ticket of admission...............

 

[mickeyd]

Scott Adams, Noble Prize winner? Why not? The guy has a wonderful way to communicate financial dealings to the average guy on the street. All financial theories do not need to be complex~ "The simpler the explanation, the more likely it is to be correct" Occam's Razor

Fortunately for America's 95 million investors, Adams' secret nine-point formula was finally revealed in "Dilbert and the Way of the Weasels." Notice its simple brilliance in the exact reproduction of his formula:
Make a will
Pay off your credit cards
Get term life insurance if you have a family to support
Fund your 401k to the maximum
Fund your IRA to the maximum
Buy a house if you want to live in a house and can afford it
Put six months worth of expenses in a money-market account
Take whatever money is left over and invest 70% in a stock index fund and 30% in a bond fund through any discount broker and never touch it until retirement
If any of this confuses you, or you have something special going on (retirement, college planning, tax issues), hire a fee-based financial planner, not one who charges a percentage of your portfolio
Adams boldly states that this is "everything you need to know about personal investing." In just 129 words, nine simple points, one page you have the unabridged "Unified Theory of Everything Financial." That's it. Everything!