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Yu
Yu

Can we trade treasury by call them under this non-fee full service account? Anyone has experience? thanks.

Freya
Freya

I’m looking to do this after WellsFargo WellsTrade promo. Would transferring treasury bills from the broker over work and count?

Which JP Morgan wealth management non-retirement accounts would qualify? I’m looking for one that doesn’t have any fees and one that I could manage on my own (mostly buying t bills)

I’m trying to understand what accounts are Eligible J.P. Morgan Wealth Management non-retirement accounts (opened in a Chase branch and serviced by a J.P. Morgan Private Client Advisor)

BW
BW

Full service brokerage is what you want. Some folks have gotten pushback from the investment advisors at their local branches, YMMV.

Freya
Freya

What’s the strategy to get them to open a full service brokerage? Do you ask before you even present the code to them? That way you don’t waste time opening the upgraded checking account? What did you write in your appointment details?

Would saying that you know what you want right now but down the road you might need their help with placing trades on different investments get them to open the full service brokerage for you?

BW
BW

I emailed with a banker at my branch and told him what I was looking to do before I even made an appointment. He checked with the investment advisor and then made the appointment.

BW
BW

Appointment today to try to open a ‘full service brokerage’ not the managed one. I’ll report back on my experience and success or lack thereof.

BW
BW

Success! I think I got lucky with an awesome investment advisor, he didn’t push the managed account he just listened to what I wanted and made it happen.

BW
BW

Looking into the fee schedule on the brokerage it appears that if the advisor makes a stock/ETF trade for you it’s a 1% fee on the transaction. If you do it yourself on chase.com then it’s free. Also there’s no add’l fee for mutual fund buying/selling.

Retired
Retired

I still have not found an investment advisor who doesn’t require managed account. I need to fully fund my account soon so I may have to do a managed account. I don’t have a choice.

Yu
Yu

Anyone tried to compare the T-Bill rates on Chase with those on Fidelity? I remember someone mentioned here that Chase has big markup so that the yield is not as competitive as what we can get from other brokerages. Is this true? Thanks.

FJBiden
FJBiden

No real difference, they never marked up T-Bills in my account but the secondary market selections differ from broker to broker.

Retired
Retired

I am told by a JPM advisor that there is an annual fee of 1.2% for private client advisor. The fee would be $3k for a deposit of $250k. How are you guys getting around that? Otherwise, it won’t make this deal worth doing for me.

Brian C 🐕

That’s for a “Managed” account (and also 1.2 is VERY high, most advisors would open one for you with a lower % fee like .5).

The account you want is the no-fee brokerage account opened through the JPM advisor. Advisors will push you towards the fee version, you have to sweet talk them in to opening a no-fee brokerage.

Retired
Retired

If you were able to open a no-fee brokerage account through the JPM advisor, are you able to avoid the advisor fee completely? How about transaction fees?

FJBiden
FJBiden

No annual fees, no transaction fees. I’ve been with them for a few years and received this bonus a few months ago.

Retired
Retired

What’s the best excuse to have them open a no-fee brokerage account for you? Can you buy CDs in there?

FJBiden
FJBiden

You can buy secondary market securities through almost any brokerage, but I never bought CD’s through Chase, even though I do see they have very competitive rates on Chase issued CD’s available at Etrade. So Chase would very likely also sell them.

B
B

Terms says:

– Ineligible Accounts: Chase business checking and savings accounts, any J.P. Morgan Self-Directed Investing & Automated Investing accounts,

Do you also have to sweet talk them into overriding this and give you the bonus anyways even for a self directed account?

Brian C 🐕

The terms are referring to the self directed account that you open yourself. The one opened by a JP Morgan Advisor is eligible for this bonus.

General rule for this bonus….

If you are filling things out yourself and to open the brokerage account, it is ineligible. If the JP Morgan advisor is setting it up and all you have to do is DocuSign, then its eligible.

Retired
Retired

How long do you have to keep the funds in there? For 90 days after funding or just to day 90 after opening? The wording is kind of confusing.

B
B

thanks!

DocuSign as in you were able to do it without going into a branch? Was it for the current iteration of the bonus?

BW
BW

@Brian C it says only wealth management accounts are eligible though in the terms

Eligible
• Personal Checking and Savings accounts
• Eligible J.P. Morgan Wealth Management non-retirement accounts (opened in a Chase branch and serviced by a J.P. Morgan Private Client Advisor)

Brian C 🐕

Right, what I mentioned is that.

BW
BW

Thanks @brian C, I was able to get it!

Corey
Corey

I recently got $900 from chase for opening up a checking and savings account – would I be eligible to upgrade to this now?

Dave
Dave

If the email confirming offer enrollment states that deposit must be made “by June 16”, does that mean I can deposit a check at a branch on June 16 also, or does that mean deposit a check at a branch on June 15 at the latest?

Retired
Retired

Can you invest in high yield money market funds with Chase like with Wells Fargo’s WellsTrade? What are some of the highest yielding money market funds available through CPC?

FJBiden
FJBiden

I bought MLJXX which is currently returning about 4.7%.

Jim
Jim

Just noticed this offer has been extended to July 19, 2023

https://account.chase.com/consumer/banking/chase-private-client-checking-account-seo/TM32227

I’m just transferring my assets in and wanted to verify I had 45 days to do the transfer, so Googled the terms. First hit happened to be the updated offer link

TG
TG

Trying to do this with a Full Service Brokerage account has been really difficulty between the bankers who don’t know what that account is and ones that do but refuse to open it.

Urban
Urban

What do you mean by – refuse to open it? What do they say and what is the reason? What do they want from you ie. a higher net worth or higher investments?

Retired
Retired

I have a similar problem. The JPM banker requires me to have at least half of my funds under his management, or he won’t open a brokerage account for me. Should I try to switch to another banker?

Brian C 🐕

Yes, don’t waste your time with that investment advisor, just schedule a new appointment with a new one