J.P. Morgan Private Bank has decided that managing billions just isn’t quite enough hand-holding for the ultra-wealthy, so they’ve launched a shiny new “Lifestyle Services” division under their expanded Global Family Office Practice (because apparently regular family offices weren’t global enough). Co-captains William Sinclair and Natacha Minnit are now steering this boutique concierge service, which promises to connect U.S. clients with a “curated network” of lifestyle providers. Translation: someone to handle literally everything so you never have to lift a manicured finger.
William Sinclair, Co-Head of J.P. Morgan Private Bank’s Global Family Office Practice, said in a press release “In an era where discerning families seek more than just financial guidance from their wealth management advisors, J.P. Morgan Private Bank is redefining wealth advisory by curating a platform that enriches clients’ lives beyond their balance sheet.” Emily Margolis, Head of Lifestyle Services, added in the press release: “These collaborations empower us to deliver exceptional value through a comprehensive suite of services tailored to our clients’ unique needs, allowing them to focus on what truly matters.” Not content with merely advising on trivial matters like estate planning, life insurance, and strategic wealth transfer (yawn), JP Morgan has apparently realized their clients also need help booking private jets, hiring staff, managing art collections, and—checks notes—finding someone else to be their CFO.
U.S.-based clients can now enjoy “complimentary consultations, discounted rates, and waived fees” across services ranging from private aviation to healthcare management to luxury travel. Because when you’re worth nine figures, paying full price for anything would just be gauche. The family office practice continues offering its standard holistic wealth management through teams with delightfully corporate names like “Wealth Advisory,” “Global Investment Opportunities,” and “Outsourced Chief Investment Officer.”
What’s On Offer? Oh, Just Everything:
Private Aviation Services: Because commercial first class is for peasants. Clients can now “enjoy seamless and discreet travel experiences” through jet card programs, fractional ownership, or chartered flights. The platform promises “tailored solutions to optimize travel”—which is fancy speak for “we’ll make sure your plane is ready when you are.”
Outsourced CFO Services: Why employ your own Chief Financial Officer when JP Morgan can connect you with someone else’s? Get help with bill pay, bookkeeping, cash flow reporting, and investment aggregation—because tracking where all those millions went is exhausting.
Healthcare Management: Whether you’re feeling poorly in the Hamptons or Monaco, JP Morgan’s network will connect you with leading medical specialists and top facilities worldwide. They’ll handle the tedious bits like scheduling, organizing medical records, and navigating insurance complexities so you can focus on what matters most: complaining about your health from a yacht.
Art & Collectibles: For when your Basquiat needs cataloging or your Fabergé egg collection requires authentication. JP Morgan connects clients with global advisors who handle everything from conservation and restoration to discreetly navigating auctions. All conducted with “complete confidentiality,” naturally—wouldn’t want anyone knowing you overpaid for that Rothko.
Staffing Solutions: Finding the right butler, personal chef, or executive assistant is apparently so challenging that you need a bank to help. Their network of recruiting firms specializes in family office and household staffing because hiring people is hard when you have too much money.
Aggregating and Reporting: Under the thrilling leadership of Michael Grippo (Head of Family Office Aggregation and Reporting—yes, that’s his actual title), JP Morgan now offers a digital asset reporting platform powered by Addepar and iCapital. This gives clients “a comprehensive view of their portfolios” with “enhanced transparency and sophistication.” Basically, it’s a really fancy spreadsheet that shows you how rich you are across all your accounts, so you don’t have to do the mental math yourself.
Luxury Travel Services: Thanks to JPMorganChase’s 2023 acquisition of Valerie Wilson Travel, clients now have access to “industry-leading luxury travel design and consultation.” They’ll handle personalized travel planning, provide “exclusive destination content,” and grant “insider access to unique experiences”—all bookable through a single platform. Because juggling multiple travel agents is so 2022.
Essentially, if you’ve got more money than time (or interest in managing either), JP Morgan now has a division specifically designed to ensure you never have to deal with the exhausting business of… well, anything really.
