Just out of curiosity, if someone isn’t planning on borrowing money and is only investing in boglehead style index funds, is there any significant benefits to someone with 10 million plus beyond relatively trivial things like ATM fee reimbursement? Do you get better deposit rates than T bills?
That said, the private client experience is still a step up from just regular retail, and many of the Chase Private Client bankers are very good and stay with the firm for many years. The products are similar but not the same - private bank clients get access to totally different mortgage rates, loan opportunities, and alternative investments as well as better deposit rates and deposit accounts with free wires (even international) and free ATMs (even if you pay a fee to a third party it will be automatically refunded).
Happy to answer any specific questions if I can.
Perhaps most useful for people doing the borrow instead of selling assets to live on and taking advantage of the step up basis after death the so called buy, borrow, die strategy. I can see how banks would love this type of customer as they are locked in for life.
Statistics: Posted by er999 — Thu Oct 03, 2024 8:01 pm — Replies 21 — Views 1568