JPMorgan Rebrands Prosperity Management Business

(Photograph: AP)

JPMorgan has transformed the branding of its wealth administration organization, with the over-all business enterprise acquiring the new J.P. Morgan Prosperity Administration brand name and the J.P. Morgan Securities division in it renamed J.P. Morgan Advisors.

The changes have been disclosed to advisors in a video convention phone early this 7 days by Kristin Lemkau, CEO of US Wealth Administration at JPMorgan Chase, and Chris Harvey, CEO of J.P. Morgan Securities, and then detailed in interior email messages that were shared with ThinkAdvisor on Wednesday.

“Our new model a lot more obviously communicates what we do throughout all our corporations, for shoppers at all wealth ranges,” Lemkau said in the email of the new J.P. Morgan Wealth Management manufacturer title.

The enterprise models “will continue to have separate names, unique cultures and identities,” she stated, incorporating JPMorgan Chase’s “Private Financial institution will remain a independent brand from the J.P. Morgan Wealth Management enterprises.”

In addition to J.P. Morgan Advisors, J.P. Morgan Prosperity Management features Chase Wealth Administration, the You Invest online digital trading division, and the new “remote make,” Harvey reported. The latter was a reference to the firm’s recently announced plan to seek the services of hundreds of distant advisors.

Economical advisors will also now also be identified as prosperity advisors, a name he stated “better conveys the clientele you provide and the J.P. Morgan brand.”

Pertaining to the firm’s existing practice catering to extremely-superior internet value people, he claimed: “We will officialize that likely ahead as Wealth Companions — and you will be hearing more from your Regional Director shortly on this.”

The modifications follow studies late very last year that JPMorgan was forming a new U.S. wealth device by combining some $400 billion in assets with Chase Wealth Management and J.P. Morgan Securities.