Try this:

https://www.linkedin.com/hp/update/6179347311387246592

Thanks. Still does not work for me, but I read it elsewhere.

I too wonder about rate of return. I was going to go with another firm until my due diligence discovered information that perhaps I was better in The Market, which is where I remain.

I am SO IMPRESSED with the reserve. I got an email from my private client banker moments ago that JP Morgan has given me the 100k bonus. I've spent about 11k on the card so far, and I see that the 100k has posted to my account.

Mind you, they said im a special exception because I applied for the palladium, after the reserve came out, got a palladium box and card, however, received a letter congratulating me on my reserve approval before I ever even did the product change. I guess they were as confused as I was, and although I have the palladium card, now I officially have the reserve, with the points attached to my account.

As for customer service, maybe because I have a little over 100k across two cards with chase, and a banking relationship with them, anywho the service is AMAZING.

Every request so far fulfilled, not one disappointment, the transition to the reserve has been flawless for me.

Also, other lurkers (I have been one for a while too) PLEASE stop messaging me asking for my bankers information to a fax number. I will not provide either.

If you are a legitimate CPC, you can easily have them call in for you and make the request via secured message (their computer) or over the phone for an app. My CPC is like my concierge, literally, fulfilling most of my requests even if they slightly may disagree. So if yours is in question, find another, just please don't message me for personal info, as I won't share with anyone, except a moderator

Quality control at Chase called me back. I didn't even want to bother at that point, but they said they pulled the recording and listened to my conversation with the rep. They apologized profusely for the rep offering me the 100k upon conversion from the Palladium to the JPM Reserve, and then rescinding it later (pretending the conversation never took place). They reinstated the bonus.

Because of their mistakes, I'll have more cards than I absolutely need: 2 JPMRs and one CSR, and my wife has a CSR. I guess that's fine and it'll help me keep my expenses separate among my various businesses. Now I have to figure out how to spend 16k in 2 months get all 400k points. Probably book a vacation in advance.

This makes two of us! Had you not mentioned to push the 100k points, I would have never tried.

Cheers!

I can't speak for others, but the real value I get from being a JPM PB client is the ability to outsource my entire financial life so that I can focus on more important things, like posting on FT. They don't just do the investing for me, they do all my banking, they get everything to my CPA to file my taxes with no action required of me (no more dealing with K-1s!), they proactively monitor my insurance coverage (auto, home, umbrella, etc.), they stay on top of my estate planning, and just keep my financial life generally on track. Being a client buys me time, which is the thing I value most.

They've also invited me to some pretty amazing events where I've met some very interesting people throughout the years. Investing is probably the thing I value the least from them, although they have handily beat a 60/40 ETF benchmark portfolio over the past few years.

Sounds like the above may be inaccurate given what xacutti found:
If I were a CPC and wanted the JPMR, I'd just fill out the online application, available here http://therewardboss.com/wp-content/...pplication.pdf And then I'd point my CPC banker to his own website that says that "I can choose from any ... JPMorgan credit card" and tell him to submit my application.

It's also interesting that the application has a long list of terms and conditions, many of which place restrictions on who can apply for the card. But none of the restrictions relate to non-CPC v. CPC v. JPM status.

Finally, their approval department just called me yesterday and asked me a whole bunch of questions. They knew I was CPC, undoubtedly knew (by then) of the open fax line, but approved me on the spot anyway. So it looks like it's intended for at least JPM and CPC clients, if not everyone who they think would meet a certain spending threshold.

^ And I posted my update mostly in case it would help SD88, who was also promised the bonus upon conversion, and who gave me the idea to try.

Thanks for the update. Hopefully when I phone in and ask for the conversion, I'll also be able to push for and receive the 100K since my acct is less than a month old.

It obviously varies with how aggressive you want your guys to be but I will say they've pulled significantly higher returns for me then any other American bank I have accounts with. In addition to that, even if they hadn't been as stellar as they are on that front I'd still stay around as they're the most personable group of people I've ever dealt with amongst private banks in the USA....^

I tend to be really skeptical of people investing my money so right now I'm just gradually moving my money over to Chase but having them put it in Vanguard funds and not actively managing it. I will say that my CPC guys have been extremely understanding and do whatever I tell them without trying to upsell me at every corner like other banks I've dealt with. That's part of the reason I've stayed with Chase, I don't feel like I'm just a sucker they're trying to squeeze money out of every chance they get.

It's going to be a while until I get to PB levels with their new requirements, although I'll probably be close to their old minimum by the end of the year. Having someone to all that random stuff for me would be the biggest benefit for me as well. I don't have enough time as it is, so any way to offload this stuff would be welcome. I wonder if I'm utilizing my CPC guys enough, I'm honestly not sure what they are able to do.

honestly, I think you don't really need a Private Banking relationship unless you have a substantial asset base. The Private Banking relationship isn't really about them generating you returns on capital..although that is part of the service offerings.

They really offer services that you can't get at a retail branch. Like if you want to finance a 7 figure painting purchase, or you want to borrow against something that is esoteric in nature, then you can approach the private bank. It is a BANKING relationship after all. People in that WSJ article say people are dumb for putting their money with the PB because they can beat them with low load funds.

Well...when you have 100mm...you want exposure to more than just some low load funds. Although the hedge fund industry as a whole as underperformed..there are some really good funds out there that still beat the market day in and day out. As well as other fund types such as large PE funds that have 25+ year track records of 20+% returns on an annual basis. A lot of those investments aren't suited for people who have sub 5mm and sometimes even sub 10mm. Some of these funds require 10mm minimum investment..7 year money based on when they are called. How many people that are at the 10mm level can have 5-10mm tied up for up to 14 years.

True, someone like me would not be able to take full advantage of it, but perhaps there could be some benefits still. One of my business partners has probably $500mm with Chase and he still has headaches with them and gets bothered with stuff he shouldn't have to deal with. On the other hand when he gets upset with them they do bend over backwards to make it right. I'll ask him what he gets out of his relationship with them.

What number did you call?

Hey thanks guys for the insights, much appreciated. When I was younger I was so excited to become a millionaire, let alone a deca-millionaire. Now that I am here, it still isn't anywhere close to "lifestyles of the rich and famous." This article really sums it up for me:

https://www.quora.com/Wealthy-People...r/David-S-Rose

I need to get to 100m basically.




Oh man...haha...the K-1s...I feel like anyone north of a certain net worth might as well skip April altogether and head to September. So the PB concierge level service really takes care of all the personal busy work so you have more freedom and time to do whatever you like (whether golf, FT, or make more money, etc).




Yeah exactly, so I was curious--JPMorgan really honing in on the 10m investable assets--they are in fact actually looking at the 1% of the 1% with 100m net worth or more. For me to save 10mm in investable assets, given my continued growth/expansion, spending, and expenses, will take me another 10-15 years. It'll take me another 5 years to get to 30m, then I'll have probably around 1.5m in net income annually. If I stagnate, I can probably save 1m a year for the next 10 years.