Wealth Strategy

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The J.P. Morgan Private Bank logo, above a boxed disclaimer that reads 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, JPMorgan Chase Bank, N.A. or any of its affiliates, Subject to investment risks, including possible loss of the principal amount invested. Chris Kelly has short dark hair and wears a navy blazer over a white shirt. A modern office interior with a shelving unit, tables, and chairs sits behind him. A caption reads Chris Kelly, Head of U.S. Wealth Strategy, J.P. Morgan Private Bank.

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CHRIS KELLY: Hi. I'm Chris Kelly. I am the head of wealth strategy in the US Private Bank. And I have the pleasure of leading a team of professionals that help people make big decisions during times in their lives.

The opportunity in front of you is immense. This opportunity can also bring a range of emotional and economic impacts. In addition, there is a need to make the most of what is to come, optimize every aspect, enhance value to its fullest extent.

The great news is all of these things are possible. In order to tie it all together and bring clarity and organization to your decision-making process, it is extremely important to be intentional about what you want for yourself, your impact on the world, and the people that matter to you most. Optimizing for investments, philanthropy, estate planning, and other wealth management concepts begins here.

Once you've established this baseline, you can lean on specific frameworks before making any important decisions. We've found that an understanding of your goals is a start to this process. One question we receive quite often is, how should I define my goals?

We at the Private Bank look at goals in four parts.

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Text: The name of your goal.

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First is the name of the goal. What do you want to achieve, not a generic idea, but something very specific to you and your family?

Second,

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The dollar amount.

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the dollar amount-- an example might be our current lifestyle is XYZ per year, we would like that to continue, or perhaps we would like to increase our living expenses based on specific changes we'd like to make day to day.

Third,

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Your time horizon.

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time horizon-- when does the goal begin, possibly end? For example, is a home purchase, primary or vacation, on the horizon? If so, when would you like that to happen?

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Your priorities.

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fourth is the priority. How important is this for you to accomplish?

As you define your vision for the future, we can help you achieve more clarity around decisions of your equity in the company and how it can help you achieve your goals. Through this framework, you can begin to answer questions we receive consistently from our clients, like should I diversify any of my equity, and if so, how much?

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Should I diversify?

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if I do diversify into other areas of the market, how should it be allocated? How

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How to allocate?

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do I want to be impactful on my community and the causes I believe in?

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Philanthropy.

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Beyond my assets, what resources are available to me? Is it my time, my human capital, my network, my professional advisors?

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Resources.

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What are important action items I should be doing now to set up and protect myself and those I care about? And

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The future.

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finally, how should I think about ways in which my equity is taxed?

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Taxes.

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Your goals can, and most likely will, change over time. It is important to understand that the discussion around what you want for the future and the decisions that surround each new idea is ongoing and dynamic. And therefore, your plan should be flexible. We look forward to partnering with you on this journey.

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