I use the Chase Private Client program but not with Chase actively managing my accounts. We moved to Chase last year when we were looking for someone to do a refi on our home and Chase was the first local Bank we found that was willing and clever enough to see beyond our cash-rich and job-poor status. (I had previously heard from several of my friends that Chase was a good place to go for creative financing.)
If you like trading and actively managing your own portfolio, Chase Preferred Client is definitely not for you. It's nothing like Fidelity or e-Trade as far as ease of use for trades or available research. Their JP Morgan online trading tools are the worst I've seen, and I speculate it is because JP Morgan has always tried to be more of a full-service brokerage. They are upgrading all that, and they tell me it's coming, but so far they are not at all ready for prime time on the online research and trading side.
For me, it came at a time when DW and I were ready to consolidate accounts and simplify things, and stick with ETFs and stocks I already owned, so I didn't mind that part too much. I was already using Chase for my mom's IRA accounts and liked the service from the local branch. I don't have Chase handling my portfolio management, I do it myself and work through my JP Morgan/Chase Preferred Client Advisor.
I use my eTrade account and my old Fidelity login for my own research and I speak with my Private Client Advisor as a sounding board and to execute the trades. He has been very good, and very helpful and will actually call me without me calling him about what's going on. Despite the website shortcomings, I will say that I have gotten much, much better, much more personalized service from my local branch than I have ever received from any brokerage. It's a tradeoff I can happily live with for now. (I now actually have cell phone numbers in my cell phone of actual live management people at my local Chase bank branch who will happily take my and DW's calls immediately and take responsibility for answering our questions and solving our banking and investment account problems - any questions or problems)
Their Chase Sapphire credit card is the best in the industry as far as travel benefits and that is something we are just starting to use. If you travel overseas a lot, it offers some terrific, unique benefits such as free access to first-class airport lounges, no foreign or domestic ATM fees and ATM exchange rate benefits, concierge and travel services, etc. You get the first $300 of travel expenses reimbursed dollar-for-dollar every year and (I believe) 100K+ miles for signing up. I like that I can earn triple points on travel and still accumulate my travel miles with the carriers too. My wife loves it because we charge everything on the card, pay it off monthly, and she doesn't need to reconcile our bank account nearly as often as before. Their travel concierge program is very competitive on pricing and I recently booked a trip to Australia through them. It was like having my own travel agent.
I know that there may be better institutions and programs out there, but Chase seems to offer a lot more in one place to large account holders than the other large banks. It's definitely not for everyone, but for us at this stage in our lives it is just extremely convenient, and not very costly because of the fee discounts we earn due to the size of our holdings. So far Chase has earned my business - they worked out a $600K cash out refinance on my home while we were retired - and are one of the only banks I've found in my area that is willing to underwrite loans to us on the basis of the various types of passive and Trust income that we have.
I wouldn't have used Chase when I was younger, poorer and more aggressive, but now it's just right for us.....for now. Things could change, and I'm willing to move if I find something better. I do recommend anyone considering them to at least take a closer look and talk to your local Private Client representative. You might be pleasantly surprised.