2024 Global Family Office Report | J.P. Morgan Private Bank U.S. (2024)

FAQs

Is JP Morgan Private Bank better than Chase Private Client? ›

Chase Private Client is easily the top choice on our list if you want increased personal banking support but don't have more than $1 million in assets. For ultra-high-net-worth individuals, J.P. Morgan Private Bank is an excellent award-winning choice that requires you to have at least $10 million in assets.

For example, the Bank of America private bank minimum requirement is $10 million. The minimum requirement to open a private banking account with HSBC in the US is $5 million, while the minimum for banks like JP Morgan is $10 million.

David Frame is Chief Executive Officer of J.P. Morgan U.S. Private Bank, one of the largest providers of wealth management services with more than $836 billion in client assets.

JPMorgan Chase Bank, N.A. and its affiliates (collectively “JPMCB”) offer investment products, which may include bank-managed investment accounts and custody, as part of its trust and fiduciary services.

The latest honors from Euromoney come on the heels of Global Finance Magazine's declaration, for the fifth year in a row, that J.P. Morgan is the “Best Private Bank in the World.”

For its ninth annual World's Best Private Banks Awards, Global Finance Magazine ranked J.P. Morgan Private Bank* first overall. J.P. Morgan Private Bank has once again been named “Best Private Bank in the World” as well as “Best Private Bank in North America.”

How Much Does J.P. Morgan Personal Advisors Charge? J.P. Morgan Personal Advisors charges between 0.40% and 0.60% of your assets under management annually. It's 0.60% for portfolios below $250,000, 0.50% for portfolios between $250,000 to $1 million, and 0.40% for portfolios over $1 million.

JPMorgan Chase cash on hand for the quarter ending March 31, 2024 was $1,440.910B, a 7.8% increase year-over-year. JPMorgan Chase cash on hand for 2023 was $1440.91B, a 7.8% increase from 2022. JPMorgan Chase cash on hand for 2022 was $1336.625B, a 6.93% decline from 2021.

References to “J.P. Morgan” are to JPM, its subsidiaries and affiliates worldwide. “J.P. Morgan Private Bank” is the brand name for the private banking business conducted by JPM.

What is the salary of the CEO of JP Morgan Private Bank? ›

Dimon often ranks among the highest-paying names in banking and courtesy of JPMorgan's record-breaking results for 2023, that trend doesn't look set to change anytime soon. In an SEC filing seen by Fortune, JPMorgan's board approved a compensation increase from $34.5 million in 2022 to $36 million for 2023.

JPMorgan provides financial services to consumers, small businesses, large corporations, governments, and other clients. The company's Consumer & Community Banking segment is the largest source of revenue.

J.P. Morgan Private Bankers work with innovators, entrepreneurs, industry leaders and their families to help them achieve what they envision and make a difference. We can do the same for you.

The minimum amount varies — $1 million is most likely the minimum for most private banks, Foy says. But there are some exceptions. For instance, Chase Private Client requires customers to keep $150,000 worth of deposits and/or investments.

JPMorgan Chase Bank, N.A. and its affiliates (collectively "JPMCB") offer investment products, which may include bank managed investment accounts and custody, as part of its trust and fiduciary services.

J.P. Morgan is a marketing name for investment businesses of JPMorgan Chase & Co. and its subsidiaries and affiliates worldwide.

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with $2.6 trillion in assets and operations worldwide.