Originally Posted by 2tall4economy

Some points:

1) Never buy anything someone tries to sell you. Do your research and seek out the products you want to buy instead

2) "Vice President" at a bank, is exactly the same as "Manager" in all other businesses. "Managing Director" at a bank is the same thing as "Vice President" everywhere else

3) Never use money managers who buy mutual funds as their only job. You can do this yourself for much lower cost.

4) CPC was created out of thin air, it's not something that "used to be $1M but now only $250k". That's complete garbage

5) Stay away from CPC anyway - the whole point is to get higher fees. They even came right out and said it on an earnings call. Any business they started to gain fees for them means worse for you.

Though they do have a nice card. I've been tempted myself many times.

Source: Years of working with banks, friends working at JPM and others.