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Oct 17, 2009 3:50 pm

WealthManager

Joined: 2006-05-16Offline

    A Managing Director at JPMorgan Private Bank, who I have known for years, reached out to me about JPMorgan Private Bank’s push to expand into my region.  While I’m not looking to move anywhere, especially after surviving what I believe is the most difficult part of a financial advisor’s career, I am interested to learn more and will meet with them for an informational interview.  Before meeting with them I would like to gather as much information as possible.  Can anyone suggest some resources?  Is there a type of RegisteredRep forum for private bankers?  Does anyone have any experience working for JPM Private Bank that they can share?

    This is not an asset grab, especially considering very few of my clients meet their minimums.  They reached out to me is because I am licensed with experience, have an MBA from a top school in finance and I am well entrenched in the community where they are trying to expand their business.  My guess is that I would be starting over building a book from scratch.

Here are some articles which I found by Googleing:
http://bit.ly/1auLvF
http://bit.ly/2kV9Xo

Thank you in advance,
–WM

Oct 17, 2009 4:31 pm

NOVA

Joined: 2005-01-11Offline

Looks good to me.  Good luck.

Oct 20, 2009 12:46 am

Roxie

Joined: 2009-10-20Offline

I would add that you may want to ask some questions regarding silos and ongoing support from the company.  It could be an area but there are areas where they are pulling out of…

Oct 27, 2009 4:12 am

VC2345

Joined: 2007-05-07Offline

JPM PWM and JPM Private Bank are different. JPM PWM is 2-25MM (legacy Bank One PCS business) the private bank is 25MM+(legacy JPM. The Wealth Manager is an asset gatherer and is paid a base+ bonus.  VP’s bonus mix is 75% cash and 25%stock & MD’s get paid 60% cash and 40%  stock on bonus. Graded by a scorecard on new clients and revenue. You will not be able to build a book but pay can be lucrative. You will  partner with Investor to do asset management . Most have mba/cfa. very proprietary. hope this helps.