In May 2023, JPMorgan Chase acquired most of First Republic Bank's assets after its collapse. Now, JPMorgan is repurposing these locations to establish 14 new "J.P. Morgan Financial Centers" across several states, designed for affluent clients. The centers promise high personalization in service, supported by JPMorgan's global operations. By 2026, JPMorgan plans to expand this number to 31. Two centers are already operational, with a target client base of those holding over $750,000 in deposits or investments. Remote access to services remains available for clients outside these locations.
"Through these Financial Centers, we are redefining how affluent clients are served, offering a highly personalized level of service that is backed by the global capabilities of JPMorgan Chase."
"These new Financial Centers offer a highly personalized service model, providing greater flexibility to meet clients' needs with exceptional attention and care."
"Clients with more than $750,000 in qualifying deposits and investment balances are welcome at the new, office-based model, which was inspired by First Republic."
"Two locations are already open, 14 will open in 2025, and then JPMorgan says it is doubling the total to 31 by the end of 2026."
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