Gloobnib
Travel Burninator
I'm hoping someone has a little intel on JP Morgan. Specifically, I'm mulling over signing up as a Chase / JPM private client and rolling one of my IRAs over into JPM's brokerage to satisfy the $100K requirement for private client.
I've tried poking around JPM's site and there is a bunch of boring platitudes about how awesome their investment advice is (read: we wanna charge you for our advice). But does anyone know if I can use them as a simple brokerage account for my self-directed IRA? I'm a "buy index funds and hold them forever" investor, and for the life of me I can't find anything on their site about fee structure etc.
And yes, I know the easy answer is "call them", but believe me, I don't want to get on some money manager's radar as a high net-wealth individual unless I'm relatively certain I want to start down the road towards a relationship!
Why am I even thinking about this instead of sticking with a low cost brokerage? I already have a fairly extensive relationship with Chase (1st Mortgage, Car loan, checking account, as well as several rewards CCs) and have no complaints with them. I am also now subject to the 5/24 rule and am kind of missing all those awesome CC signup bonuses. Since Private Clients are supposed to be immune to 5/24, I figure this is an easy way to get back on that gravy train. If the fees are a wash and I can buy low cost ETFs, I figure this is worth about $2k-$4k to me each year in additional CC signups for me and my wife.
Any feedback is appreciated!
Gloob
I've tried poking around JPM's site and there is a bunch of boring platitudes about how awesome their investment advice is (read: we wanna charge you for our advice). But does anyone know if I can use them as a simple brokerage account for my self-directed IRA? I'm a "buy index funds and hold them forever" investor, and for the life of me I can't find anything on their site about fee structure etc.
And yes, I know the easy answer is "call them", but believe me, I don't want to get on some money manager's radar as a high net-wealth individual unless I'm relatively certain I want to start down the road towards a relationship!
Why am I even thinking about this instead of sticking with a low cost brokerage? I already have a fairly extensive relationship with Chase (1st Mortgage, Car loan, checking account, as well as several rewards CCs) and have no complaints with them. I am also now subject to the 5/24 rule and am kind of missing all those awesome CC signup bonuses. Since Private Clients are supposed to be immune to 5/24, I figure this is an easy way to get back on that gravy train. If the fees are a wash and I can buy low cost ETFs, I figure this is worth about $2k-$4k to me each year in additional CC signups for me and my wife.
Any feedback is appreciated!
Gloob