From CNBC: 2025-05-27 09:26:00

J.P. Morgan introduces new financial center branches targeting affluent Americans to manage their wealth, launching 14 locations in upscale areas like Palm Beach and Napa. The aim is to increase market share in wealth management, where competitors like Morgan Stanley and Bank of America currently lead.

The new J.P. Morgan Financial Centers offer a luxurious experience with a focus on in-person service for affluent clients. The warm design and quiet environment set them apart from traditional Chase branches, aiming to foster serious, long-term wealth planning conversations. The bank plans to expand this high-end format to more locations.

Despite the upscale branding, J.P. Morgan faces challenges in attracting foot traffic to the new financial centers. The bank is working to raise awareness and assure potential clients that all customers are welcome. The goal is to encourage people to visit, engage with experts, and discover how the bank can support their financial goals over time.

Read more: JPMorgan Chase is heading upmarket to woo America’s millionaires