This is the introductory thread...tell us why you're here
The entire industry of investment brokerage advisors (ie: Financial Advisors) operate under an industry standard agreement (called the industry protocol). It says that if a financial advisor moves to another firm, he/she can contact his clients to let them know. But not if they are at Chase. Chase is the only major firm that is not signed-on the the industry standard. Therefore, even if you find a good advisor at Chase, you can be sure you won't have he/she for too many years. And when he/she is gone, Chase will make it near impossible for you to stay in touch with the person. Therefore, Chase advisors are not worth your time. You're better off seeking an independent financial advisor or, if you really must use a bank, at least make it Wells Fargo or Citibank who both subscribe to the industry standard protocol. And there's more....

....What makes it worse, is that your Chase advisor will NOT be in his/her seat for too many years. The average "good" Chase financial advisor is only in his/her seat for 2-3 years. If you've met one and he/she has been their longer -- watch out! Why? Because there is a pattern at Chase across the country to eliminate financial advisors once they get to a certain level in their career. They've built-up a book of business (ie: your money that they are helping to manage), and that business brings-in revenue to Chase. Chase managers then find reasons to terminate the advisor, truly unlawfully (but in many states such as California, no reason is required to terminate an employee). The revenue still comes in, and it benefits the managers immensely. Chase management does't care that you (the client) have a relationship with your Chase Financial Advisor -- as they just think they can assign some new young recruit fresh from bank teller school to handle your account. Lots of financial benefit to Chase managers. Who loses? Of course the Chase Financial Advisor (shame on him/her for not seeing this coming and leaving sooner). But, the investor client is also a huge loser because he/she has invested time to get to know his/her financial advisor at Chase, only to have that person disappear. It really happens -- all the time with Chase across the country -- it's a pattern. And, because Chase doens't sign-on to the industry standard protocol agreement -- your former Chase financial advisor may not have any legal way of reaching out to you to continue working with you (from his/her new firm). See what I mean? Chase has it rigged. Chase and Chase management wins -- and they do so by screwing not only their own financial advisors -- but the clients as well.

Therefore, if you already have investment accounts at Chase and you LIKE your financial advisor there -- then tell him/her to leave (to Wells or Citi if they must stay at a bank, but preferably to an independent firm) and you'll follow him/her there with your business. But, no matter, take your investment dollars OUT of Chase before you throw any more time invested there in the toilet.

Here's my "experience" only PARTLY of my DISSATISFACTION ultimately, with the charming, but thieving "financial advisor" ha! Financial Destroyer, I like to call this man, Martz, the Money Mangler.

September 18, 2015 Via Certified Mail (Louisville) and Registered Mail (Wilmington)
P.O. Box 36520
Louisville, KT 40233-6520
P.O. BOX 15919
Wilmington, DE 19850
Re: Chase Bank, Hollywood, CA, Sunset & Vine
Broker: Andrew Martz
Client: ******* *********
Dear Mr. Dimon, and Ms. Walden, and to whom else this may concern:
I have a complaint about two annuity products I was pressed to buy by the agent, broker, Andrew Martz, and these are both, unsuitable for many reasons.
I am also in great distress that Mr. Martz lied about how he was remunerated handling my funds to begin with, and that he never answered calls after I learned he had misrepresented the products, causing me to lose my medical benefits, with the first “product”;
the second one, was in direct opposite to my wish that those funds be ready for me WITHIN A FEW MONTHS TO BUY A HOME …. and he’s “fattening up” annuity products, telling me, they’re flexible, and I can get all the money any time, not telling me, as he knew I knew nothing about the penalties or fees, or grace periods!!! He sold stocks he’d only purchased the year earlier to do that, which I didn’t want those funds either! I didn’t find this out until I “figured it out” lately.
Originally, i told him flatly, I wanted my funds, outside of the individual stocks held, in FDIC insured accounts, he pressured too much … all the time … and I was and felt “tricked” about my Bonds … and he caused me to have tax liabilities ($29,500 for 2013 not reported by Chase until 2014) and when this was being drawn up for me, I was asking “what about the taxes on this?”, he leads me to believe there’s no tax penalty because it’s a “retirement” thing (this is regarding the first one).
As well, he lied about several other aspects of these “annuities” and I am outraged that the legal department, and one Heidi Emmert, put on a horse and pony show for me over a number of months, I requested that Mr. Martz, initially upon learning he had stuck me into AIG, replace himself as my “agent” in Chase, this was never addressed …. all that happened was I was lead to believe there’d be an arbitration …. there was not … a mock interview was all that happened, and followed by a rude phone call by the lawyer attending said “mock interview”, telling me they’re throwing my brokerage account “in the street” and that was a courtesy call he said. I was in the Kaiser building at that time.
Then, I wrote, Ms. Emmert, and had my friend/representative, Mr. Walter Smith, who works at the Urban League in Boston, talk to her, and she lead him on over 4 months. This is not customer friendly and doesn’t seem legal or right to me.
I need a response from this bank about my “complaints” on both annuities … or I shall have to send this letter to FINRA if I have no response by October 1. I have furnished my email, so this should not be too much a problem.
******** **********
cc: Walter Smith
Thank you so much "Administrator" (smile)!

I am continually disturbed myself, that I am embroiled in this "mess" of annuity contracts I never wanted ... yes, the title, Financial advisor, is a joke surely .... he took my savings bonds ... EE ... and I was struggling with him about it ... he's a liar ... I am angry to be used as a "mark" in a con game, that's really what they do ... it's a con game ... but what to do now is the question!

I don't know what to do further ... they did not respond to this letter .... I still call that legal department and demand "some answers and customer service" and I may just well tell it to the walls ....

I guess I have to just really buckle down and write up the Insurance Commission complain form, as I did send for it, I got the form ... in hard copy ... and I need to get a new SEC form, cause I realized only lately that he did worse than I thought, with making that second annuity ... thing happen, he's terrible to have done that ... I don't know who to blame, but I don't blame me on this .... no, I tried to be a defensive consumer, but I'm just not that "young smart and colleges educated in that arena of finances" geez, louise, I don't know the world is coming to, they train young men to do that to people ...???? It's hard to believe. Give you the opposite of what you want, mask it ... it's dirty ... I got to continue this fight, but I don't know what I'm really doing ... if anyone can advise blindly, I'd love it .... I'm going to follow through like this is all I know so far:
Make the Complain form, with the Insurance Comm.
Same for the SEC again, elaborating
Make a complain to the FINRA organization I learned about from someone.

Of course, if I were younger and more able, I'd already done that, and cc'd all consumer protection agencies, but I'll try to cc: at least the BBB on this ... I'm weary, cause this guy at the bank conned me, no DOUBT< cause he knew I met him as the victim of a financial fraud -- madonna!! he held my hand.... to only steal from it later ... the retired fellow I met once told me, "watch out for the bankers" ... but I hadn't known what he meant then, now I do ... he was senile, so it wasn't on point, I wish I had picked up on it better though.
Name some names! I've always found the best way to get relief on something like this is to publicly state who you talked to and what they told you. Then reference the public thread (like on this website) for them in future communications.
I invested a considerable sum of money with JP Morgan Chase Private Client adviser Ernest Newman in Batavia, IL and I could not be more disappointed with the financial advise and funds lack of performance. Ernest Newman and JPMC always had an excuse as to why my investment lost value. So I finally moved my investment accounts out and to Vanguard where I now manage my accounts myself, and my investments are up just over 11%. I am no financial adviser- I would have expected a JPMC adviser to make better investment choices than a novice. Granted there is no guarantee of performance or return, but I would caution anyone considering putting your retirement accounts with JPMC...DO NOT DO IT!

I hope this evaluation helps other investors.
This is to reply to one post about Andrew Martz...

I am very sorry that on Sept 18, 2015 you had a bad experience with Mr. Martz. We had the opposite experience!

Our family has been investing with him for over 7+ years and I will say he was beyond impressive. Yes, at times he was difficult to reach but we did not witness or have on dishonest transaction take place...for what we know to be.

Mr. Martz provided exceptional Chase Private Client services and our accounts have grown. Also, he was very informative of the financial landscape and always was professional. It is unfortunate a fellow customer had such an experience... yet, NEVER did we feel like a mark.

However Chase bank has been errors in not filing tax documents on time which our accountant fixed easily with the state. Chase Bank Hollywood Branch also has issues with picking up the phone and returning calls. My family has been doing business at this (Hollywood/ Vine) branch since Washington Mutual... and the banking service part needs improvement. Mr Martz is very important aspect to my family's financial growth (middle class) and has been doing a great job with us as well as another friend we referred to Chase Private Client.
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