JP Morgan Chase’s richest customers will now get discounts and referrals on services from luxury travel to art restoration.
Jpmorgan private bank Announced On Tuesday that it’s an offering New lifestyle program For your rich American customers, providing access to services such as booking private jet and hiring home staff. Services also include financial reporting programs, bill payments and bookkeeping methods.
A service, for example, provides customers free access to Valery Wilson, a company JP Morgan Acquired in 2022For travel plan and advice. (JP Morgan did not name any other travel companies available through the network, but said that there was a wide range of firms offering special services.) Another special service involves maintaining and selling art collection.
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For JP Morgan customers, according to the press release, there is no additional fee to tap in new services. New programming is part of a comprehensive industry trend where private banks are expanding beyond traditional investment and financial guidance.
William Sinklair, co-head of JP Morgan Private Bank’s Global Family Office Practice, told CNBC That rich customers are rapidly seeking only financial advice from their advisors, including the artwork collection and managing payroll management for domestic workers.
“There is a growing trend among customers who want our advice out of traditional money management,” Sinklair explained the outlet.
JP Morgan CEO Jamie Dimon. Photographer: Patrick Bolger/Bloomberg through Getty Image
Sinklair said that the most requested services are requested to help private jet travel, bill payment, and employees to help employees find health insurance schemes.
JP Morgan is also planning to add more facilities to lifestyle service because it grows, Emily MargolisJP Morgan Private Bank’s head of lifestyle services, told CNBC,
“We are looking at physical security, insurance, more deep HR, areas we see more requests,” Margolis told the outlet.
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The expansion of lifestyle services is related to JP Morgan’s overall strategy to grow as a bank. JP Morgan CEO Jamie Dimon Talked In May, the bank’s annual investor day about the company’s overroach growth plan and commitment to investment.
“There is a lot of competition,” he said in this program. “You have to be ready every day to invest what you need to invest to win your people, your system, your opes, your culture, and accessories.”
JP Morgan is also the largest American bank $ 4.3 trillion In assets till 31 March. The bank had market value $ 845 billion At the time of writing.
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JP Morgan Chase’s richest customers will now get discounts and referrals on services from luxury travel to art restoration.
Jpmorgan private bank Announced On Tuesday that it’s an offering New lifestyle program For your rich American customers, providing access to services such as booking private jet and hiring home staff. Services also include financial reporting programs, bill payments and bookkeeping methods.
A service, for example, provides customers free access to Valery Wilson, a company JP Morgan Acquired in 2022For travel plan and advice. (JP Morgan did not name any other travel companies available through the network, but said that there was a wide range of firms offering special services.) Another special service involves maintaining and selling art collection.
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