What an amazing 2024 we had. Markets were up over 20%. We had an election. And when I think about the things that I am most proud of, three things come to mind. One, not only did our CIO portfolios outperform in 2024, but they now have a positive one, three and five year performance record.
Two, we issued our Global Family Office report. This is the report that helps our largest and most sophisticated families understand what they need to do, and what other families are doing to help navigate an increasingly complicated world.
And thirdly, we opened up new client centers. This is where we meet with you, your family, to connect and talk about what's going on in the world and the best ways that we can serve you.
and building on a strong foundation. We have so much to look forward to this year, in addition to our world class events where we entertain and deliver thought leadership to our most important clients. We have an entire series dedicated to the next generation where we bring that same thought leadership, those same market insights, and that same advice to the next generation for our families to help them navigate 2025.
And of course, no 2025 conversation would be complete without commenting on I. And we are harnessing the power of AI in our business to make sure that our advisors are delivering the best insight they can to each and every client.
So as we sit here in the new year, we already know what clients want to talk about. They want to talk about the new administration and the executive orders. They want to talk about inflation and the direction of rates. They want to talk about markets and the implications on their portfolios and their future. The good news is we cover all of that in our 2025 outlook.
And in fact, we talk about it every day as we gather here in our morning meeting to go over the implications for markets, their movements and how to build durable portfolios that stand the test of time. So thank you. Thank you for putting your trust in us. We look forward to helping you. Navigate 2025.
(SPEECH)
[MUSIC PLAYING]
(DESCRIPTION)
Logo: J.P. Morgan Private Bank. Text: INVESTMENT AND INSURANCE PRODUCTS ARE: NOT FDIC INSURED. NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY. NOT A DEPOSIT OR OTHER OBLIGATION OF, OR GUARANTEED BY, JP MORGAN CHASE BANK, N.A., OR ANY OF ITS AFFILIATES . SUBJECT TO INVESTMENT RISKS, INCLUDING POSSIBLE LOSS OF THE PRINCIPAL AMOUNT INVESTED.
Text: David Frame. CEO, U.S. - J.P. Morgan Private Bank.
(SPEECH)
What an amazing 2024 we had. Markets were up over 20%. We had an election. And when I think about the things that I am most proud of, three things come to mind.
One, not only did our CIO portfolios outperform in 2024, but they now have a positive one-, three-, and five-year performance record. Two, we issued our global family office report.
(DESCRIPTION)
Text: 190 single-family office clients surveyed globally. $1.4 billion average net worth of the families surveyed. 48 geographies around the world represented.
(SPEECH)
This is the report that helps our largest and most sophisticated families understand what they need to do, and what other families are doing to help navigate an increasingly complicated world. And thirdly, we opened up new client centers. This is where we meet with you and your family to connect and talk about what's going on in the world and the best ways that we can serve you.
(DESCRIPTION)
Image of a J.P. Morgan office furnished with classic upholstered armchairs, overhead tubular lighting, and stylish tables.
(SPEECH)
And building on a strong foundation, we have so much to look forward to this year. In addition to our world-class events where we entertain and deliver thought leadership to our most important clients, we have an entire series dedicated to the next generation, where we bring that same thought leadership, those same market insights, and that same advice to the next generation for our families to help them navigate 2025. And of course, no 2025 conversation would be complete without commenting on AI. And we are harnessing the power of AI in our business to make sure that our advisors are delivering the best insight they can to each and every client.
(DESCRIPTION)
Image of a J.P. Morgan office reception desk: sleek styling with a globular ceiling light fixture.
(SPEECH)
So as we sit here in the new year, we already know what clients want to talk about. They want to talk about the new administration and the executive orders. They want to talk about inflation and the direction of rates. They want to talk about markets and the implications on their portfolios and their future.
The good news is, we cover all of that in our 2025 outlook. And in fact, we talk about it every day as we gather here in our morning meeting to go over the implications for markets, their movements, and how to build durable portfolios that stand the test of time. So thank you. Thank you for putting your trust in us. We look forward to helping you navigate 2025.
[MUSIC PLAYING]
(DESCRIPTION)
Logo: J.P. Morgan Private Bank.
Text: KEY RISKS. This material is for information purposes only, and may inform you of certain products and services offered by private banking businesses, part of JP Morgan Chase & Co. ("FW"). Products and services described, as well as associated fees, charges, and interest rates, are subject to change in accordance with the applicable account agreements and may differ among geographic locations. Not all products and services are offered at all locations. If you are a person with a disability and need additional support accessing this material, please contact your JP Morgan team or email us at accessibility dot support @ JP Morgan dot com for assistance. Please read all important Information. - GENERAL RISKS & CONSIDERATIONS. Any views, strategies, or products discussed in this material may not be appropriate for all individuals and are subject to risks. Investors may get back less than they invested, and past performance is not a reliable indicator of future results. Asset allocation/diversification does not guarantee a profit or protect against loss. Nothing in this material should be relied upon in isolation for the purpose of making an investment decision. You are urged to consider carefully whether the services, products, asset classes (for example, equities, fixed income, alternative investments, commodities, etc.) or strategies discussed are suitable to your needs. You must also consider the objectives, risks, charges, and expenses associated with an investment service, product, or strategy prior to making in investment decision. For this and more complete information, including discussion of your goals/situation, contact your JP Morgan team. - NON-RELIANCE. Certain information contained in this material is believed to be reliable; however, JPM does not represent or warrant its accuracy, reliability or completeness, or accept any liability for any loss or damage (whether direct or indirect) arising out of the use of all or any part of this material. No representation or warranty should be made with regard to any computations, graphs, tables, diagrams, or commentary in this material, which are provided for Illustration/reference purposes only. The views, opinions, estimates, and strategies expressed in this material constitute our judgment based on current market conditions and are subject to change without notice. JPM assumes no duty to update any Information in this material in the event that such Information changes. Views, opinions, estimates, and strategies expressed herein may differ from those expressed by other areas of JPM, views expressed for other purposes or in other contexts, and this material should not be regarded as a research report. Any projected results and risks are based solely on hypothetical examples cited and actual results and risks will vary depending on specific circumstances. Forward-looking statements should not be considered as guarantees or predictions of future events.
Nothing in this document shall be construed as giving rise to any duty of care owed to, or advisory relationship with, you or any third party. Nothing in this document shall be regarded as an offer, solicitation, recommendation, or advice (whether financial, accounting, legal, tax, or other) given by JP Morgan and/or its officers or employees, Irrespective of whether of not such communication was given at your request. J.P. Morgan and its affiliates and employees do not provide tax. legal, and accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any financial transactions. - LEGAL ENTITY BRAND & REGULATORY INFORMATION. In the United States, bank deposit accounts and related services, such as checking, savings, and bank lending, are offered by JP Morgan Chase Bank, N.A. - Member FDIC. - JPMorgan Chase Bank, N.A., and its affiliates (collectively, "JPMCB") offer investment products, which may include bank-managed Investment accounts and custody, as part of its trust and fiduciary services. Other investment products and services, such as brokerage and advisory accounts, are offered through J.P. Morgan Securities LLC ("JPMS"), a member of FINRA and SIPC. Insurance products are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency doing business as Chase Insurance Agency Services, Inc. in Florida. JPMCB, JPMS, and CIA are affiliated companies under the common control of JPM. Products not available in all states. - References to "J.P. Morgan" are to JPM, its subsidiaries and affiliates worldwide. "JP Morgan Private Bank" is the brand name for the private banking business conducted by JPM. This material is intended for your personal use and should not be circulated to or used by any other person or duplicated for non-personal use, without our permission. If you have any questions or no longer wish to receive these communications, please contact your J.P. Morgan team. - Copyright 2025 JP Morgan Chase & Co. All rights reserved
