Chase offers financial advisors, but the type and cost depend on how much money you have
Chase has advisors available, but they work differently depending on which part of the bank you use. If you have a regular checking or savings account, you can talk to someone at a branch, but that person is usually trained to sell products rather than build a financial plan. If you have significant assets—typically $250,000 or more—you can access Chase's wealth management division, where advisors work on a fee basis and create comprehensive plans. The middle ground is Chase's investment services, which offer advisors for people with smaller portfolios who want more than branch-level help.
The key difference is whether you pay a fee for advice or whether the advisor makes money when you buy products. At the branch level, there is no separate fee, but the advisor's job includes selling Chase products. In wealth management, you pay a percentage of your assets under management, typically 0.50% to 1.00% per year, and the advisor is legally required to act in your best interest. Understanding which service fits your situation saves you time and money.
Key Takeaways
- Chase branch advisors are free but primarily trained to sell Chase products; they are not required to act in your best interest.
- Chase Wealth Management serves clients with $250,000 or more in assets and charges a percentage of assets under management, typically 0.50% to 1.00% annually.
- Chase Investment Services offers advisors for clients with smaller portfolios who want guidance beyond what a branch offers.
- Advisors in wealth management are fiduciaries and must recommend what is best for you, while branch advisors are not held to this standard.
What branch advisors do and what they do not do
When you walk into a Chase branch and ask to speak with a financial advisor, you are usually meeting a personal banker or financial services representative. These people can explain Chase products, help you open accounts, and discuss basic savings strategies. They can also refer you to investment services or wealth management if your situation is more complex. However, they are not required to put your interests ahead of the bank's, and their compensation is often tied to selling Chase products.
Branch advisors can answer questions about checking accounts, savings rates, CDs, and basic retirement accounts like IRAs. They cannot typically build a detailed financial plan, manage investments, or provide tax advice. If you need help with those things, they will refer you to a licensed advisor in a different part of Chase. The conversation at the branch is useful for straightforward questions, but it is not the same as working with a dedicated financial advisor.
Chase Investment Services for smaller portfolios
Chase Investment Services sits between the branch and wealth management. This service is designed for people who have some money to invest but do not yet meet the $250,000 threshold for full wealth management. Advisors here can discuss investment options, help you build a portfolio, and provide ongoing guidance. You typically work with an advisor over the phone or in person at a branch office, and you pay fees based on the investments you hold or a flat advisory fee depending on the service level you choose.
To access this service, you usually need to have a Chase checking or savings account and express interest in investment advice. You can ask a branch advisor to connect you, or you can call Chase directly and ask about investment services. The advisors here are registered representatives and must follow securities regulations, though they are not necessarily fiduciaries in all situations—ask specifically whether they are acting as a fiduciary for your account.
Chase Wealth Management for high-net-worth clients
Chase Wealth Management is the bank's premium advisory service. It is designed for clients with $250,000 or more in investable assets, though the exact threshold can vary by location and account type. Advisors here create comprehensive financial plans that cover investments, tax strategy, estate planning, and retirement. They are fiduciaries, meaning they are legally required to act in your best interest, not the bank's.
Wealth management advisors charge a percentage of your assets under management, typically ranging from 0.50% to 1.00% per year depending on the size of your portfolio and the complexity of your situation. You work with a dedicated advisor or team, and you have access to specialists in tax, estate planning, and other areas. If you think you may have access to, you can ask a branch advisor for a referral, or you can call Chase Wealth Management directly to discuss your situation.
How to find an advisor and what to ask
The easiest way to start is to visit your local Chase branch and ask to speak with someone about financial advice. Tell them what you are trying to accomplish—whether it is building an investment portfolio, planning for retirement, or understanding your options. They will either help you directly or refer you to the right service within Chase.
If you already know you want investment advice or wealth management, you can skip the branch and call Chase directly. For investment services, call 1-800-935-9935 (this number may vary by region). For wealth management, ask your branch for the local office number or search Chase's website for "wealth management" and your city. When you contact them, have a rough idea of how much you have to invest and what you want help with—that information helps them route you to the right advisor.
When you speak with an advisor, ask these questions: Are you a fiduciary? (This matters most in wealth management.) What are your fees, and how are they calculated? What investments do you recommend, and why? Can you provide references from other clients? Do you have experience with situations like mine? Getting clear answers to these questions before you commit helps you understand what you are paying for and whether the advisor is a good fit.
The difference between fiduciaries and non-fiduciaries
A fiduciary is legally required to put your interests ahead of their own or their employer's. A non-fiduciary is only required to recommend products that are "suitable" for you, which is a lower standard. At Chase, wealth management advisors are fiduciaries. Branch advisors and some investment services advisors are not, though they must still follow suitability rules.
This matters because a fiduciary cannot recommend a high-fee Chase product if a lower-cost alternative would serve you better. A non-fiduciary can recommend the high-fee product as long as it is suitable for your situation. If you are working with a non-fiduciary advisor, ask them directly whether they are acting as a fiduciary for your account, and get the answer in writing. Some advisors will agree to act as a fiduciary for specific accounts or decisions even if they are not required to.
Alternatives if Chase is not the right fit
Chase advisors work well if you want to keep everything in one place and you like working with a large bank. However, they are not the only option. Independent financial advisors, fee-only planners, and robo-advisors all offer different approaches. Independent advisors are often fiduciaries by default and may charge lower fees. Fee-only planners charge a flat fee or hourly rate and do not sell products, which removes a conflict of interest. Robo-advisors use algorithms to manage your portfolio and charge very low fees, though you do not get a human advisor.
If you have less than $250,000 to invest, you may find better value outside Chase. If you have significant assets and want a fiduciary relationship, Chase Wealth Management is competitive, but it is worth comparing fees and services with independent wealth managers in your area. The right choice depends on how much you have, what kind of help you need, and whether you prefer working with a large institution or a smaller firm.
Frequently Asked Questions
Do I have to use Chase advisors if I have a Chase checking account?
No. Having a Chase account does not obligate you to use their advisory services. You can work with any advisor you choose, whether they are at another bank, an independent firm, or a robo-advisor. Chase advisors are an option, not a requirement.
What if I have less than $250,000 but want professional advice?
Chase Investment Services is designed for you. You can also work with an independent advisor or a fee-only planner outside Chase. Many independent advisors work with clients who have $50,000 to $250,000 and charge lower fees than Chase's wealth management division.
Can a Chase branch advisor help me with tax planning?
Branch advisors can discuss basic tax-advantaged accounts like IRAs and 401(k)s, but they cannot provide detailed tax planning. For that, you need a wealth management advisor or a tax professional outside Chase. If you ask a branch advisor about tax strategy, they will likely refer you to wealth management or suggest you consult a CPA.
How much does it cost to work with a Chase advisor?
Branch advisors are free. Investment services advisors charge fees that vary by service level—ask when you call. Wealth management advisors charge 0.50% to 1.00% of your assets under management per year. Some advisors also earn commissions on products they sell, so ask about all fees upfront.
What happens if I am unhappy with my Chase advisor?
You can request a different advisor or move your account to another firm. If you have a complaint about an advisor's conduct, you can file a complaint with Chase's customer service department or with the Financial Industry Regulatory Authority (FINRA) if the advisor is a registered representative. Keep records of your conversations and any written advice you received.