Further beefing up its wealth management business, J.P. Morgan at the start of the month made public its plans for a new group of financial advisers whom clients can work with remotely via video, chat or other electronic channels.
The new registered investment adviser unit, J.P. Morgan Personal Advisors, operates under the roof of J.P. Morgan Wealth Management and will launch broadly next year. It's not yet clear how many financial advisers will be working at the new remote business, but the company had said in March it planned to hire more than 100 advisers in the Phoenix area by next year.
J.P. Morgan's remote financial adviser business is opening in an era when clients and advisers have adjusted to remote meetings as a result of the Covid-19 pandemic.
According to the Form ADV filed with the Securities and Exchange Commission on Nov. 1, clients need to have a minimum of $25,000 to invest and an account minimum of $10,000. The investments include multiasset portfolios that use mutual funds and exchange-traded funds based on a client’s investment profile.
The company hasn't yet announced its fees for the new program, which is in its pilot stage. J.P. Morgan had hired Boaz Lahovitsky from Vanguard in 2020 to oversee the new program.
A spokesperson noted that J.P. Morgan Wealth Management’s platform included full service, with advisers in offices and branches, online investing, J.P. Morgan Self-Directed Investing and J.P. Morgan Automated Investing, and now remote advice with J.P. Morgan Personal Advisors.
Industry publication Financial Advisor IQ reported the launch of J.P. Morgan Personal Advisors earlier this month.
Robert D. Kendall brings decades of experience, including roles at DWS Americas and a former investment unit within Morgan Stanley, as he steps into a global leadership position.
Snowden Lane taps Pontera for held-away retirement account management, while Opto Investments enhances an Indiana-based independent RIA's private markets offering.
The $420 million RIA in Auburn Hills and Ann Arbor gives Credent its second and third Michigan locations while pushing it closer to $4 billion in AUM.
New survey reveals heightened investor concern over market volatility, retirement readiness, and the impact of tariffs on living costs.
Stifel – so far - is on the hook for more than $166 million in damages, legal fees and settlements in investor complaints involving Roberts, a 35-year industry veteran.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
