JPMorgan Chase is heading upmarket to woo America’s millionaires
- In 2025, JPMorgan Chase plans to launch a dozen and two specialized branches aimed at wealthy clients in upscale U.S. Markets to provide more tailored wealth management services.
- This expansion follows JPMorgan's 2023 acquisition of First Republic and aims to provide a higher service tier above Chase Private Client for clients with at least $750,000 in assets.
- The new centers offer concierge service inspired by First Republic, emphasizing serious wealth planning conversations in quieter, more exclusive settings.
- CEO Jennifer Roberts highlighted a significant chance for the bank to encourage clients to manage their investment portfolios with the firm alongside their existing deposit accounts.
- JPMorgan expects these centers to help double client assets in its retail bank and plans to reach 31 such centers by the end of 2026, signaling a push to attract America's millionaires.
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JPMorgan is expanding an initiative to woo more wealthy clients
JPMorgan Chase said it will open 14 new branches for its affluent clients.Michael M. Santiago/Getty ImagesJPMorgan Chase is opening 14 new financial centers specifically to serve wealthy clients.The bank is attempting to woo more rich clients with higher levels of service and personalization.The offices are in locations like Palm Beach, Florida, and on Manhattan's Madison Avenue.JPMorgan Chase is doubling down on plans to woo wealthier clients b…
·United States
Read Full ArticleHere's What JPMorgan Is Doing With Those First Republic Bank Locations It Acquired Two Years Ago: 'Expanding Its Affluent Banking'
JPMorgan is opening 31 brick-and-mortar financial centers over the next two years focused on serving "affluent" customers, according to a company press release. Here's where.
·San Francisco, United States
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