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November 06, 2021 at 08:57 AM
What You Need to Know
- JPMorgan's new remote advisory services division is being offered now on a limited
- The remote advisory unit's name is J.P. Morgan Personal Advisors, it discloses in a Form ADV filing with the SEC.
- Clients must bring at least $25,000 in investable assets to the bank in order to join the program.
JPMorgan U.S. Wealth Management has begun offering access to its new remote advisory services division “on a limited ‘pilot’ basis solely to invited participants,” the firm disclosed in a filing with the Securities and Exchange Commission on Nov. 1.
The news comes about 14 months after JPMorgan hired Boaz Lahovitsky, then with Vanguard, to lead its digital-advice program and recruit “hundreds of advisors in several locations across the country in the next two years to assist clients remotely over video calls, telephone and other digital channels, if a client chooses this service,” it said last September.
The call-center based offering is only open to clients with $25,000 in investable assets, according to the filing.
The Uniform Application for Investment Advisor Registration, or Form ADV, filed earlier this month serves as the firm’s official application to form an RIA and launch a remote advisory unit, which it identified in Part 2A of its filing as J.P. Morgan Personal Advisors Program.
