JPMorgan brings in over $15bn from wealthy clients looking to cut tax bills

Quick Summary:

Assets in SMAs rose almost 30 per cent from $1.7tn in 2022 to $2.2tn in 2023, according to data from Cerulli Associates, a consultancy.

Asset managers surveyed earlier this year told Cerulli that 45 per cent of their assets were subject to tax management, up from 33 per cent in 2022.

Morgan Stanley acquired Parametric in 2021 as part of its $7bn purchase of asset manager Eaton Vance, which JPMorgan had also tried to buy.

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Article Details

Author / Journalist: Joshua Franklin

Category: MarketsFinanceInvesting

Markets: United States

Topics: Cent Asset Clients Investors Financial Management Jpmorgan Platform Smas Assets Years

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-25 @ 04:00:52 (6 days ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 689 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 21378602

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