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The move positions JPMorgan to broaden offerings to financial advisers, a key source of growth in the asset-management industry. With investment returns in flux due to rock-bottom interest rates and volatility, investors have been focusing more on how their portfolios perform after accounting for taxes.
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“One of the biggest barriers that get in the way of financial advisers fully taking advantage of model portfolios is the tax problem,” 55ip Chief Executive Officer Paul Gamble said in an interview. “How do you get someone from a portfolio that’s been sitting in years of capital gains into an investment model, and, once you get them there, how do you manage that in a tax-aware way over time?”
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