JPMorgan Chase is opening branches catering specifically to the 'mass affluent', targeting customers with at least $750,000 in assets, setting it apart from industry trends.
These new 'financial center' branches will feature large spaces, luxury furnishings, and specially trained staff, aimed at enhancing the banking experience for moderately wealthy clients.
Chase plans to open 30 financial centers across various states, including San Francisco and New York, contradicting the larger industry trend of branch closures.
As part of its ambitious plan, Chase will hire 3,500 employees and refurbish existing branches while competitors are cutting down on their physical locations.
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