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      10-01-2012, 12:01 PM   #21
Maestro
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Drives: 2007 335i Sedan
Join Date: Nov 2006
Location: Philadelphia

Posts: 860
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I think a few people pointed this out, however, I am not sure if the extra so call benefits are worth handing your investments over to a Bank to manage for you. I guess if you do care or do have time to manage your own money or find a personal investment manager it may be worth doing to get the extras.

From my personal experience it is never a good idea to put your investment with a bank besides checking and savings. Even if they say you will get personalized attention most of these people who will watch your account do not really have any authority to make recommendations or help you figure out what is best for you. They are selling some sort of "investment product" which was defined by people you will never talk to.

They will stick you in these investment they are putting everyone into, and then give you all the standard excused of past performance is no indication of future and when thing are going bad they will not call and telling you to bail out now. When you call and ask what happen they said oh it is the market.

I have a personal investment guy I used and have used for 12 years and he has out performed any of these so call preferred client programs. His office is across the street from the New York Exchange and he know the guys on the trading floor so he can tell you what is happen and what specifics are driving an investment. Depending on your risk level he will provide you what you need or want. He started out at a small investment firm and then started his own investment company. I can call him any time and we discuss changes to may account as need, some time we buying and sell lots and other times we let it ride we react to what the particular investment is doing not the crazy market.

Because of the amount of money I happen to have in a market and I am not sure how these companies find out, I get calls all the time about moving my investment and how well they will do for me. I have given them my portfolio on paper and asked them to show me what they would do. What most all of them do is pull me out of my individual investments and put all the money in mutual funds and ETF and then tell me they will revisit it all once or twice a year to see if anything needs to change.

Not a single one ever looked at the investment I had and realize I make a lot of money on them. I got Apple and they all sell it and tell me the many mutual funds all have it. Forget I bough apple back in when it was below $100. and when Apple up 100 points in six months those same funds hardly move. I have a few REA paying out 10% to 13% dividends, they put me in dividend fund paying 3% or 4% and tell me that is really good and my risk is far less than have individual investment I have.

I am sorry, making money for me is far more important than the bank making money on my money, just to give me a few extra's

I do not know any thing about Chase PCP, I do have their credit card which pays points which I turn around and take as cash every year. I never buy the over priced stuff they offer in exchange for point. It pays out pretty well if you remember to sign up every few months for the extra bonuses like 5% on gas and hotels and such. I have made Thousands from using my CC with them. They been fine as CC company had zero complaint about them and they seem easy to deal with when mistakes happen.

Last edited by Maestro; 10-01-2012 at 12:12 PM.
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