@CreditScholar wrote:PB is 5-25M. This is CPC, which is another category altogether. Both have access to the palladium card.
@trumpet-205 wrote:
@Crashem wrote:I think private client 250k or maybe even lower if you say you will build to that.
Some say it is $25 millions in the form of liquid asset.
Pb is a little weird. Definitely in the 7 digits, but really just depends on your relationship with them. Know people who have couple of illiquid million with them, but they want to build relationship with them. Personally don't think it is worth it for under 10 million. Fees rack up without enough money to need their more specialized services or access. For example, getting access to certain hedge fund.
LIMITS IN CARD DESCRIPTIONS
@Crashem wrote:
@CreditScholar wrote:PB is 5-25M. This is CPC, which is another category altogether. Both have access to the palladium card.
@trumpet-205 wrote:
@Crashem wrote:I think private client 250k or maybe even lower if you say you will build to that.
Some say it is $25 millions in the form of liquid asset.
Pb is a little weird. Definitely in the 7 digits, but really just depends on your relationship with them. Know people who have couple of illiquid million with them, but they want to build relationship with them. Personally don't think it is worth it for under 10 million. Fees rack up without enough money to need their more specialized services or access. For example, getting access to certain hedge fund.
I was just looking at the CPC site. Didn't see any minimum except that if you drop below a monthly min. of 15k they charge $20/mo. That's odd because I have a Chase Plat. Premier. account and the min is an average of 75k total. The different services are pretty minor except for free outgoing wires for CPC. OTOH, I can get 9 more free Plat .Prem. checking accounts with no minimums on the extras. I have no idea why anyone would want that.
I'm kicking around apping for the Pd but I'm not about to put my major financial assets into a bank managed investment account.
JP Morgan Chase is a bit different from most banks. JP Morgan part definitely has I-Banking chops. However, I doubt CPC inherited any of it.
@Crashem wrote:JP Morgan Chase is a bit different from most banks. JP Morgan part definitely has I-Banking chops. However, I doubt CPC inherited any of it.
No doubt. JPM is a tier one ibank as well as a great international scope bank. Probably the best combo out there. I don't have enough to interest the big guys and I'm not sure I would use them anyway. I make my own investments including PPs and have a reasonable experience with angel and mezz finance. I've been shifting into real estate. There's some good deals but the alpha is limited.
OTOH, I just want a good CC that I can spend 100k on should the opportunity/need arise. It's a fuzzy boundry where one tends to see wires used more but they are slower. An interesting note in the CPC site was that they offered verbal free 7/24 wire services. I've found verbal wires pretty useful with WF but they were limited to business hours. They also charge me $15 per.
Did you ever do that 100k secured visa from sdfcu?
@Crashem wrote:Did you ever do that 100k secured visa from sdfcu?
Nope.
Didn't find out about that before I'd gotten a Citi 25k and WF 10k secured and they unsecured 1.5 years ago.
I'm pretty sure my Amex plat would be good for 100k. I have more than that in their online savings and if push came to shove I suppose I could prepay from there.
@mum4519 wrote:
Currently work as a private banker for WF and our requirement is portfolio value of $250k. On the other hand, our wealth management team's minimum value is $1M. I can't imagine JPM to be $5-$25M for just private bank? I'm not familiar with this CPC acronym either.
jp Morgan is like the originaL private bank. I forget their minimum but it is high. My earlier comments were that it isn't worth their fees unless you need their services which IMHO takes aselects several million. Cpc=chase private client which is the equivalent to what you do.