Originally Posted by RedSun

I sat down with my personal banker in his branch when I signed up for the Sapphire checking account. So I've been in touch with him about upgrading to CPC. He stated very clearly, the CPC and Chase Private Banking are for the affluent customers who want a comprehensive solution with a team approach. It is expected that the CPC and CPB customers hire Chase banker as their wealth advisor and pay the advisor fees. Then he added, CPC customers can also be self-directed and do not hire Chase banker as the advisor. He said clearly that Chase prefers CPC clients to give the assets to Chase to manage it, but not required. All my assets at Chase were in YouInvest accounts. Chase will be happy if you buy Chase mutual funds.

I was going to move some of my assets into Chase to upgrade to CPC. But I found that Chase would not allow any complicated ETF and only offers limited products. So I've pretty moved most of my assets away from them. The extra 5% or 10% investment return is much more valuable than the perks offered by the CPC. The only benefits I used with Sapphire banking and (possible CPC) were twice international wiring fees and one time ATM fee with overseas travel in Europe. To me, CPC is just not worth it. Sure the bonus is good. But IRA money does not count to get the bonus.