Which is the best asset management option Chase Private Client, CIBC Private Bank, BMO Harris Private Bank, or Wells Fargo Private Bank?

Casey Y

Call your accountant. Don't have one yet...ask around from other people with some money (you inherited money from someone who had an accountant...speak with their accountant). Totally depends on the numbers here. You say large inheritance...are we talking 5 figures, 9 figures or somewhere in between? It matters and the more money, the more flexibility. Standard banks are fine too, but it all depends on your goals. If you park your money in a bank (while deciding what to do), assuming we're talking about more than $500k, make sure they buy and maintain excess deposit insurance... What do you plan to do with the money? Buy CDs? Mutuals? Assuming finance isn't your profession...please don't become a day trader...