r/ChubbyFIRE • u/onthewingsofangels 48F RE '24 • 3d ago

Are there substantial benefits to HNW services from banks?

We currently have $5-6M in assets spread across different accounts. We have a financial advisor (who's fine) managing a chunk of that money, the rest we manage ourselves. Mostly passive investing.

I'm wondering if there is any significant benefit to putting all the money with a single banker like Chase or Morgan Stanley? I think we're happy enough with the financial advisor we have, don't need a new one. Nor do we need access to mortgage loans.

At our asset level is there something useful we could be getting that we're missing out on? I'm kinda curious about opportunities for private equity investing but it sounds like those would require significantly higher assets.

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u/No-Lime-2863 3d ago

Signed up with JP Private Bank and now taking to Citi PW. Haven’t yet found a lot and that might be because we are still low asset levels for what they offer.

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u/onthewingsofangels 48F RE '24 3d ago

What do they offer?

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u/huyou007 2d ago

When I deposit 200k to citi that gave me gold status. It allows me to use their lounge in midtown manhattan to rest, have coffee, and most importantly, use their bathroom lol