JPMorgan Chase is shaking up the management of its retail bank branch financial advisors by establishing a new regional division. Beth Brown, a 25-year veteran of JPMorgan, has been promoted to manage the newly created Midwest region, which encompasses Ohio, Kentucky, West Virginia, Michigan, Indiana, Illinois, and Wisconsin. This move increases the number of divisions for branch-based advisors within J.P. Morgan Wealth Management to four.
As the division director, Brown will oversee advisors in Chase branches in her region, as well as the market directors and regional directors who supervise them. Her extensive experience as an advisor working directly with clients and as a regional director in Texas played a significant role in her selection for this position.
The decision to create a new division is part of JPMorgan’s commitment to expanding its wealth management business and improving the level of service provided to retail banking customers in terms of investment and financial advice. The company believes there is a significant opportunity in serving these customers’ needs.
In addition to the branch-based advisors, JPMorgan’s wealth management operations include a high-end brokerage unit, a private bank, and a robo-advisor. As of the end of the third quarter, J.P. Morgan Wealth Management had 5,424 financial advisors, representing an increase from 5,017 advisors during the same period last year.
By establishing a fourth division, JPMorgan aims to enhance its support for financial advisors. The company remains dedicated to investing in resources and support that facilitate the growth of advisor practices and enable them to assist clients in achieving their financial goals.