J.P. Morgan Securities LLC (New York)

J.P. Morgan Securities provides portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

J.P. Morgan Securities: assets under management

The assets under management (AUM) of J.P. Morgan Securities LLC is $130.28 billion. The firm's AUM has grown by 1824% since the beginning of its operation, and $532.65 million of the total AUM is attributable to clients outside of the United States.

The firm manages $98.16 billion in discretionary accounts and $32.12 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $203.97 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $265.02 thousand.

J.P. Morgan Securities has custody of $165.29 billion in cash and securities for 717,600 clients in total and acts as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 62% of the total AUM. The second-largest asset type is exchange traded securities, which make up 20% of the firm’s portfolio. Investments in government bonds form 7% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay J.P. Morgan Securities LLC for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Michael Minikes serves?

The firm provides services to individuals, insurance companies, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Michael Minikes is individuals with 491,020 clients and $64.86 billion of assets under management. Among the 8 most similar advisory firms, J.P. Morgan Securities has the 3rd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $130.28 billion for 602,145 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

J.P. Morgan Securities doesn't advise any private funds.

Careers at J.P. Morgan Securities LLC

The company employs 7,383 people that are either part- or full-time employees. 75 percent of the employees work as investment advisers or researchers. 5,507 employees are registered as investment adviser representatives with the state securities authorities.

There are 12 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Michael Minikes has been acting as President since 1 Sep 2009. Mitchell Howard Harris joined the executive team most recently as the Chief Operating Officer.

Direct owners and executive officers

Indirect Owners

The SEC currently registers 3 indirect owners.

Based in New York

The principal office where J.P. Morgan Securities LLC performs its advisory services is located at 277 Park Avenue, New York, NY 10172 The mailing address of the firm is 1111 Polaris Parkway, Floor 2 J, Columbus, OH 43240. An additional office of the firm is in Westerville, OH. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 800-999-2000. The normal business hours are 9 a.m. to 5 p.m. on Monday - Friday. You can find more information about the New York firm at jpmorgan.com.

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