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Don't give them the money. They only care to charge you high fees. Their investment performances have been super lousy. I don't think that they have any clues of manage your portfolio. Win or lose, they take a cut from your hard-earn money. Sooner or later, your money will be depleted to nothing. You will be much better off to invest your money in SPY with dollar averaging approach
They act legit but they lie to you. I have been through 3 advisors and one ignored me when the IRS came after me for money I did not make. One advisor ignored me for 2 hours for my appointment, so they switched me to a different one. The new advisor said I will make 7-10% and be in the millionaire club when I put in waaay less than that; well I closed a few days ago and my money is the same as I put in!!!
He claimed I made 7% and I made 6K alone this year. I've been getting 1099s for years saying I made 1.5-2.5K. Well where is it??? My money is the same as I put in. It all went to paying the IRS and accountants to do taxes when I didn't need one before I joined their services of investments. It goes to their fees and the commissions.
They claim the portfolio is doing well. All that happens is u lose and you gain, u lose u gain.... I'm lucky if I get my money out. But If I left in a CD for 5 years I would have made 10k, so I just lost all that and walked away making nothing from them.
Run away for Chase Client Services. Their paper work and computer records are deceptive. Know how much you put and how much u have now. It's either down or the same. I was with these clowns for 5 years. They said it take 5 years to see gains and I still saw nothing.
When u want to get out they will say "It's not for You, Do it..." Then spend 20 minutes getting u to stay. Then they say if u take it out u can't come back. Well goood! I'm waiting for my money to show up in my account. :smack :
Last edited by mimi818; 01-21-2017 at 04:32 PM..
Reason: misspelling
They act legit but they lie to you. I have been through 3 advisors and one ignored me when the IRS came after me for money I did not make. One advisor ignored me for 2 hours for my appointment, so they switched me to a different one. The new advisor said I will make 7-10% and be in the millionaire club when I put in waaay less than that; well I closed a few days ago and my money is the same as I put in!!!
He claimed I made 7% and I made 6K alone this year. I've been getting 1099s for years saying I made 1.5-2.5K. Well where is it??? My money is the same as I put in. It all went to paying the IRS and accountants to do taxes when I didn't need one before I joined their services of investments. It goes to their fees and the commissions.
They claim the portfolio is doing well. All that happens is u lose and you gain, u lose u gain.... I'm lucky if I get my money out. But If I left in a CD for 5 years I would have made 10k, so I just lost all that and walked away making nothing from them.
Run away for Chase Client Services. Their paper work and computer records are deceptive. Know how much you put and how much u have now. It's either down or the same. I was with these clowns for 5 years. They said it take 5 years to see gains and I still saw nothing.
When u want to get out they will say "It's not for You, Do it..." Then spend 20 minutes getting u to stay. Then they say if u take it out u can't come back. Well goood! I'm waiting for my money to show up in my account. :smack :
They act legit but they lie to you. I have been through 3 advisors and one ignored me when the IRS came after me for money I did not make. One advisor ignored me for 2 hours for my appointment, so they switched me to a different one. The new advisor said I will make 7-10% and be in the millionaire club when I put in waaay less than that; well I closed a few days ago and my money is the same as I put in!!!
He claimed I made 7% and I made 6K alone this year. I've been getting 1099s for years saying I made 1.5-2.5K. Well where is it??? My money is the same as I put in. It all went to paying the IRS and accountants to do taxes when I didn't need one before I joined their services of investments. It goes to their fees and the commissions.
They claim the portfolio is doing well. All that happens is u lose and you gain, u lose u gain.... I'm lucky if I get my money out. But If I left in a CD for 5 years I would have made 10k, so I just lost all that and walked away making nothing from them.
Run away for Chase Client Services. Their paper work and computer records are deceptive. Know how much you put and how much u have now. It's either down or the same. I was with these clowns for 5 years. They said it take 5 years to see gains and I still saw nothing.
When u want to get out they will say "It's not for You, Do it..." Then spend 20 minutes getting u to stay. Then they say if u take it out u can't come back. Well goood! I'm waiting for my money to show up in my account. :smack :
you shouldnt need to talk to a salesperson to find out your returns.
chase is big on variable annuity's . they are terrible to figure out . they tried pitching me one with their 10% guaranteed growth for 10 years on the equity portion ..
it made my hair hurt analyzing it . in the end it was a poor product . but heck it sounded sooooo good .
like most variable annuity's , they are not scams or deceptive products , you get everything they promise . but it is not calculated the way you think so it is important to read the offering very carefully or find someone who can .
unless you fully understand what you are buying don't buy it , no matter what it is .
Last edited by mathjak107; 01-22-2017 at 03:35 PM..
If these "advisor's" are saying they are guaranteeing returns they are in violation unless the product specifically states the fixed rate of return but to tell a client they will receive 7-10% & be in the millionaires club needs to be audited.
Unfortunately, the industry is really not interested in taking time with smaller net worth clients.
they actually do guarantee you that 10% on your money in the variable annuity they pitched to us . they are in total compliance with that claim .
but it is not calculated as you think nor can it be taken out . it is only good for an annuitization base and you only get a tiny part of the 10% growth added to your draw each year.
if anyone wants i can explain the math and how it works
Last edited by mathjak107; 01-24-2017 at 05:05 AM..
@Lowexpectation:
I do know how it works because the advisor explained it to me their way. Like
real estate, you must pay taxes on rent income whether the property value goes up or down. What u sell in investments gets reported to IRS, brokers fees were like $1,389. Whether my portfolio goes down or up they get you with fees. Bottom line...I get no money! If they say I gained, I remind them that I lost the year before. They claim I put a certain amount in, but my records show more. Deceptive and misleading all around. Whether someone knows how it works or not, they must see money in their account and I didn't. The way they explained how it works is a disadvantage to clients.
@CaptianNJ:
I was told I had to speak to my advisor for them to explain things to me and ask them how I was doing so I did not get confused. But your right, I don't have to to see an advisor to see I got no money!
They will tell u how it works and it benefits them, not us!!!
Now I have to pay the IRS when I received no money in the last 5.5 years!
Yes, I'm uninformed, that's how they got me!
@Lowexpectation:
I do know how it works because the advisor explained it to me their way. Like
real estate, you must pay taxes on rent income whether the property value goes up or down. What u sell in investments gets reported to IRS, brokers fees were like $1,389. Whether my portfolio goes down or up they get you with fees. Bottom line...I get no money! If they say I gained, I remind them that I lost the year before. They claim I put a certain amount in, but my records show more. Deceptive and misleading all around. Whether someone knows how it works or not, they must see money in their account and I didn't. The way they explained how it works is a disadvantage to clients.
@CaptianNJ:
I was told I had to speak to my advisor for them to explain things to me and ask them how I was doing so I did not get confused. But your right, I don't have to to see an advisor to see I got no money!
They will tell u how it works and it benefits them, not us!!!
Now I have to pay the IRS when I received no money in the last 5.5 years!
Yes, I'm uninformed, that's how they got me!
if you want to use an advisor, then you want to use someone who is an RIA
What is a 'Registered Investment Advisor - RIA'
A Registered Investment Advisor (RIA) is an advisor or firm engaged in the investment advisory business and registered either with the Securities and Exchange Commission (SEC) or state securities authorities. RIAs have a fiduciary duty to their clients, which means they have a fundamental obligation to provide suitable investment advice and always act in their clients' best interests.
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Chase
Chase private client is a scam!!!
I do Know I didn't Get Any Money"
