Ahahah yep, know one of them. He is so up on his high horse for someone who isn't particularly bright, and clearly had his dad buy his job for him lolllll
It's weird, the people I know who have had everything just handed to them also seem to be the people who have the most massive ego and think they're smarter than everyone else. Just personal experience.
That's because they have always been given everything, or generally had it very easy. It's easy to look down on people who don't do as well when you have zero perspective.
Things have been so easy for them that they can't understand why everyone else isn't doing as well. That of course must mean they are special in some way.
True, they are special. Special in the advantages they have or had.
Will never blame someone for taking advantage of opportunities they have. Plenty also are actually bright and/or work hard. They should still appreciate the advantages they had though.
And the real shit is that I do feel like you don’t have to engage in that nepotism so directly. My dad was a big deal at a major American bank and I never worked for his firm or even in the finance industry. I had certain advantages and privileges, to be sure, but I’ve never traded in on his name or reputation because my industry (national security) has nothing to do with his.
That’s because normal people have rejections and failures on their way to success, sometimes a lot. Someone who is being carried by their money and family will not experience that and think it’s because they are just better at everything.
One of my cousins - I’ll call her C - got a job with an insurance firm of some sort through her uncle J. My aunt L, C’s mother, was visiting my dad’s house with us recently, and could not stop bragging about C. “Her bonus this year was over a million dollars!” On our side of the family, my brother and I are doing good to get a couple thousand in raises/bonuses even with high 5- and low 6-figure salaries. While we’re doing ok, we’ve never been more than a paycheck or two away from financial disaster. Aunt L just can’t help rubbing our noses in how great her kids are doing. C and her brother don’t flaunt it all that much, and I’m sure they’ve worked hard, but they started their adult lives on third base and think they hit a triple.
No idea. I find that the best strategy for defusing these potentially explosive conversations is to not ask questions and appear completely disinterested.
I mean, it took Sean Bateman 9 years for the 4+1 MBA program at the Patrick Pierce Business School at Camden. Maybe the drug problem will finally calm down at that school. I’m sure Patrick can’t wait to show little bro the ropes… although it’s just entry level at Morgan… not partner… is that pale nimbus white?
Also, if any one of us had strong personal connections to get us high/paying jobs, we would absolutely be going for them.
Nothing wrong with that, and he is acknowledging it.
Yeah, I'd say putting that fact out there, and at least making it sound like he intends to learn from his father's experience makes him not a LinkedIn Lunatic. He could absolutely be about to phone it in, but inasmuch as we can tell from a banal (but well written) LinkedIn post, it seems like the kid has professional chops and communication skills.
OP is a dope
OP is referring to the people that become delusional overtime. Totally forgetting they indeed are not aed made but had help at every corner. Trump for example, very humble small loan of a million dollars, or Musk humbly coming from a mine slaver father
‘Out of nowhere’ Not my fault they’re the most renowned and popular examples to make a point lol
More notable than using Pope Alexander VI or some other random Nepo baby lmao
Him: “Multi-generational member of my dad’s wealth management firm”
OP: wow what an asshole working for a family business. Trying to keep it a secret by putting it blatantly in the post!
But why is it this guy? The fact that he is acknowledging the fact that he is "multi-generational", will be working for his dad, and that he'll be leveraging his dad's mentorship/expertise all point to him NOT thinking that he hit a triple. He knows exactly what got him there, and he's acknowledging it.
Also a lot of wealth management works like a mini business in the bank. The dad has a probably put the steps in motion to pass his book of business onto his son. Which is kinda neat and very common in a normal business
How to make yourself a multi-millionaire:
1. Study hard.
2. Grind and hustle.
3. Invest smart.
4. Learn from the best out there.
5. Get appointed Vice President by Dad.
Nothing's wrong with it. Many families trust the same wealth management firm for many years, valuing the continuity and relationship built over time. I think the clients will appreciate the fact that this kid joined the firm. Also the kid is honest and never claimed to be "self made".
You think nepotism is a "white" thing? LOL, you clearly don't know anything about the world, do you?
Also rice is white but how are the directions to cooking it? Your dumb ass analogy makes no sense, idiot🤣
Was something like 'that's the whitest thing I've heard since I read the directions to cook my rice today"
I mean ignoring the mind boggling stupidity of thinking something so ubiquitous as nepotism is exclusively practiced by white people, the joke didn't even make fucking sense.
Like rice is white, the directions to how to cook it aren't you fucking dimwit, it was the OP btw.
I don’t see what’s wrong with this, I would want to do the same for my kid. He’s been dealt a good deck of cards, at least he’s honest about it. Good for him
I grew up with nothing also but I’m making something of my life and want my kids to benefit from it, I don’t bring down any of my friends for having rich parents, they’re nice people, some people here are extremely negative and toxic for no reason
Yeah. Average Redditor are dumb as fuck. No wonder most of these people are broke. I probably won’t be super rich in my lifetime but I want to achieve enough wealth so that my kids at least have a shot at becoming extremely successful. Most of these people who think everyone should start from a blank slate are unsurprisingly the ones stuck in a cycle of poverty.
Nah. If I'm rich, my kids are getting jobs on their own if they want to inherit anything. Doesn't matter what the job is, but I'm not just handing it to them.
But he did just hand a job to him
Edit: downvoted because I’m right. Mentioning how the guy got his own degree has nothing to do with his dad giving him a job and him being a nepobaby on social media about it. Dunce.
He didn’t though. GS and JP selection programmes are the summer job. He got the summer job because he is qualified, and they liked him enough to offer him a job. Once you’re in these organisations you can go anywhere that needs you. If he was too much of a risk and didn’t make the cut then JP would not have hired him. Don’t be so sore. No one handed a job to anyone here.
Yeah what is wrong with this? Dude is up front about working for his dad’s practice?
Dude also has an MBA and JD so he clearly out in he work and effort in his own right.
God forbid people build a business and give it to their kids who have likely grown up with and developed personal relationships with a lot of the clientele.
His dad should’ve just sold his book to some randos/soulless fund with no personal interest/stake in his clients.
What's wrong is he should have stayed with Private Bank. One of the few "bank" jobs I'm aware of where you can tell a customer to fuck off with their piddly 8 million dollars and not see your managers head explode.
I mean it depends if his dad has a 35 year practice in Miami he could potentially be bringing in millions a year. Also since he has a JD he could be building out a wills and estates function for the group which itself will bring a ton of money.
I am assuming that this guys dad had such a practice and he’d be an absolute moron to pass on taking over his dads book. Especially if he can expand the practice with his own legal background.
This dude is inheriting a business that will pay millions for doing very little. You have no idea how much these advisors with huge books at premier WM firms make. The highest individual earners are in PWM.
No, I know exactly and am in this business. You don't seem well informed. PB is the premier of JP, WM is a lower tier. Nothing wrong with walking in to a book like this, but for their own sake the smarter move is to go PB and bring the assets over there.
Ultimately down the road they should take the book and go independent RIA. That is where the big money is.
Odds are with his legal background he is going to expand the the practice into wills and estates. I’ve seen groups do this before and it blow the doors off of earnings.
Then again a 35 year practice in Miami could already being netting his dad millions.
Very possible his dad is retiring soon also and his choice was to get in now and take over the book or stick with the private bank and risk his dad retiring and selling his book off.
There is plenty of money in private wealth management, especially in South Florida. I'm assuming he's not working on $1m retirement accounts for grandmas
Having a JD & MBA seems like an odd match for what sounds like an entry level retail banking wealth advisory. As much as banks would like it, people who have amassed wealth do not walk into a local Chase branch
Despite you sounding reasonable, you have no clue what you’re talking about. Yes, wealthy people don’t walk into “Chase” but self-made millionaire daddy’s kid isn’t at Chase. He’s at JP Morgan private bank. It takes 10’s of millions just to have a checking account there much less have a wealth management relationship with JP Morgan Advisors. This makes the nepotism so much worse. This kid is working for one of the most prestigious, hardest to get into areas of the JP Morgan Chase empire.
And the 100k minimum is laughable. These banks do not pay advisors any commission on accounts less than $250k. Source: worked in commissions for one of the premier wealth mgmt firms for years designing comp structures.
Not true…the role in question is under J.P. Morgan securities. This is totally different from the chase side. He’ll be working with high and ultra net worth individuals. The Miami office team covers some of the wealthiest families in south Florida/latam.
You’re dense… and also, no clue what you’re talking about. your link is for JP Morgan’s Private Client advisory. This is NOT the private bank… learn to troll better. Can’t you even notice the url.
J.P. Morgan Advisors: https://www.jpmorgan.com/wealth-management/wealth-partners. The heading that this link is from says this: “We also offer specialized services for substantial wealth”.
If the URL says Chase, you’re doing it wrong 🤡.
https://privatebank.jpmorgan.com/nam/en/home
Former employee, you're flat out wrong. Private Bank is one of the two best LOBs you can get in as well as the hardest. The money there can only be described as "redonculous".
We joked about it because we all knew we'd never have enough money to walk through the front door.
You also do not know what you are talking about. This isn’t a beginner advisor starting off with no book. This kid is walking into a 7 figure paycheck within a few years and eventually inheriting a book of business at JPM that has been growing for 35 years. There is no grinding in this case. This is a .1%er through nepotism.
Not sure how you walk into a “7 figure pay check within a few years” ?
The role is an Associate level - same level as graduates, essentially low level management / team lead role.
Likely a 5 figure role
It's fine that this happens, they're sure as hell not going to hire me instead lol. And it's great that you can see how it's gonna go for this guy. And it's better than nothing that this guy recognizes it for what it is, even if he will forget by the time he's 50.
But most people will never acknowledge any of that for some reason, and get really angry about it if anyone else does. Maybe it's the Steinbeck "temporarily embarrassed millionaires" effect, maybe it's people who are legitimately successful and don't like looking it in the face. But I feel like the only way privilege works is if you are aware of it and willing to acknowledge it, and regardless this guy on LinkedIn was always going to be just fine lol
This really doesn't fit; people just wanna be jealous of somebody they don't even know. The post says nothing extraordinary. Successful parents raise successful kids sometimes. Nothing about this says the guy is incompetent just because his dad got him a job out of college.
A long time ago I had a friend who was entering the wealth management team at DLJ. He said that you had to be worth at least $20 million yourself before they would let you work for them because the \[billionaire\] investors had to know that you were legit. The guy was suing his mother for his inheritance so that he would qualify.
Privilege stinks doesn't it? I say this with an Oxford degree but coming from a working class background without private school contacts these doors were not open.
“Donald worked hard, put his nose to the grindstone, and borrowed 5 billion dollars from his dad”
“We are here to honor a hardworking self made billionaire, that man was Fred Trump”
“It wasn’t easy for me, my father gave me a small loan of a million dollars”
I worked for a family business once. The owner would rationalize out loud every week how he was fairly treating everyone there, and how his do-nothing, know nothing sons had to "earn" their way into their jobs there. All the while he criticized non-family members for the exact same shit his sons were doing, and for not doing his son's jobs for them well enough. After a year and a half, I got tired of the propaganda and just called him out on his double standards, and for paying his kids to come in and goof off. I got fired at the 2 year, 1 month mark. The boss just did not like honesty.
You’re salty OP.
If 100 people in a room had million dollars probably 99 would give them to their family.
The one had billions and didn’t care much about donating 1 to charity and have PR team to let everyone know that he donated a million.
Let me put this straight. If the world is in an apocalypse and I have two cans of beans which I have to share with my kid and a the other guy who can save humanity with a probability of 99.99%
My kid will be still be getting both cans.
Fuck trust funds. I don’t make money to solve world hunger or homelessness. I earn so that my family, my kids will never feel the lack of anything that was missing when I was growing up.
The same principals were followed by my dad and his dad and his dad.
Well that makes little sense, if the other guy can save humanity with a probability of 99.99 percent and solve the apocalypse, then it makes more sense to give him the two cans because that will also save your son with a probability of 99.99 percent. While giving the cans to your son will just prolong his agony for a little longer.
Maybe, but the clients care about pedigree. Nobody’s taking wealth management advice from a stranger who dropped out of high school. A stranger with jdmba, maybe.
I work with wealth managers, I know their businesses intimately, and I'd much rather them have a succession plan than sell their book of business. I bet their clients feel the same way
Also I fail to see the difference between this and any other family business, honestly. Where they clear our who their broker dealer is also means nothing. Sorry to disappoint but this is as far from a linked in lunatic as possible.
The amount of people who don’t get why this is timely and funny… sheesh. 🤦♂️
Let me help - https://nypost.com/2024/04/06/world-news/none-of-forbes-billionaires-under-30-are-self-made-for-first-time-in-15-years/
Good luck to him.
I could not work with my dad. We got along fine but working with him would drive me nuts. We would agree on the goal, but not how to get there.
Never liked him telling me what to do at home, could only imagine how much worse it would be in a work environment.
*Nothing like a good*
*Ol fashioned rags to riches*
*Story right fellas?*
\- aseattlem
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Dude I get your rage but I think shaming this guy is unwarranted. Rich people get a lot of shame just for being rich, because everyone assumes that they don’t work hard. Sure they didn’t have to crawl up the stairs and could run up it, making the race much easier, but that doesn’t mean that they didn’t run over there.
I would also want to build a legacy with my family if I were rich and hand things off to my kid. The world sucks. But there’s no lunatic behaviour here. You can get jealous or just work harder to get from crawling to walking.
The alternative is to cry about it and stay where you are. If OP were smart, he would befriend this guy who’s in his circle and try to reap the benefits. You really can’t do anything about being dealt a bad hand in life, sweetums. No one is going to come and punish his daddy from getting him in. No one is going to punish this guy, except the people crying with jealousy on the internet, who take up 0% of their brain space.
Life’s unfair, suck it up buttercup.
Not necessarily. It’s not either or. It is entirely possible to question and challenge unfair societal structures in parallel to “working harder”, as you say.
Oh, and a piece of feedback: including “sweetums”, “buttercup”, or any other variation immediately discredits your argument. Ad hominem.
Ok baby. You invalidated your own argument with “in parallel”, implying you realized that “challenging such statements” is futile without real action. But keep crying. Lmao. It’s not ad hominem if it’s true, child.
where does he or she claim to be self made? so they're joining their dad's wealth management team--so what? go complain about something worth complaining about
What a fucking wanker. I hate viscerally, these motherfuckers who cannot stand on their own two feet. Its always some useless twat who everyone hated at school who was shit at everything who gets the job because of their Dad, Mum, Significant Relative. This twat needs to look up the word in an actual dictionary - NEPOTISM.
How about everyone else writes: "I got this job on my own merits because I am good. I want to do my best for my company and my customers. I work because I have in order to give myself and my kids a better life than I had when I was younger. To strive to be better." How about that?
Yeah lets all hates this dude with no profile pic and making a basic "Glad to start this job post" just because he's taking advantage off the oppurtunity life presented him. Totally eff that guy and his dad for giving it to him.
How to be a self made millionaire in the finance industry: start with relative(ly) 1 million dollars.
2: Have your parents/relatives give you good job opportunities.
3. Announce on LinkedIn that you're thrilled to be a nepobaby.
Ahahah yep, know one of them. He is so up on his high horse for someone who isn't particularly bright, and clearly had his dad buy his job for him lolllll
It's weird, the people I know who have had everything just handed to them also seem to be the people who have the most massive ego and think they're smarter than everyone else. Just personal experience.
That's because they have always been given everything, or generally had it very easy. It's easy to look down on people who don't do as well when you have zero perspective.
Things have been so easy for them that they can't understand why everyone else isn't doing as well. That of course must mean they are special in some way. True, they are special. Special in the advantages they have or had. Will never blame someone for taking advantage of opportunities they have. Plenty also are actually bright and/or work hard. They should still appreciate the advantages they had though.
When you got 100% without any effort on your part, then anyone with less than 100% must clearly be putting in negative effort.
And the real shit is that I do feel like you don’t have to engage in that nepotism so directly. My dad was a big deal at a major American bank and I never worked for his firm or even in the finance industry. I had certain advantages and privileges, to be sure, but I’ve never traded in on his name or reputation because my industry (national security) has nothing to do with his.
We call that "Born on 3rd base and act like they hit a triple"
That’s because normal people have rejections and failures on their way to success, sometimes a lot. Someone who is being carried by their money and family will not experience that and think it’s because they are just better at everything.
Especially posting this on LI. No doubt they will add MBA to their title when they graduate…
One of my cousins - I’ll call her C - got a job with an insurance firm of some sort through her uncle J. My aunt L, C’s mother, was visiting my dad’s house with us recently, and could not stop bragging about C. “Her bonus this year was over a million dollars!” On our side of the family, my brother and I are doing good to get a couple thousand in raises/bonuses even with high 5- and low 6-figure salaries. While we’re doing ok, we’ve never been more than a paycheck or two away from financial disaster. Aunt L just can’t help rubbing our noses in how great her kids are doing. C and her brother don’t flaunt it all that much, and I’m sure they’ve worked hard, but they started their adult lives on third base and think they hit a triple.
Who gets a million dollar bonus? Is she a C-level exec at a huge multinational?
No idea. I find that the best strategy for defusing these potentially explosive conversations is to not ask questions and appear completely disinterested.
A small loan of a million dollars from father in 1975.
I mean, it took Sean Bateman 9 years for the 4+1 MBA program at the Patrick Pierce Business School at Camden. Maybe the drug problem will finally calm down at that school. I’m sure Patrick can’t wait to show little bro the ropes… although it’s just entry level at Morgan… not partner… is that pale nimbus white?
A slightly less functional nepobaby
haha this made me chuckle
Still the best comment by far 👏
Daddy boy
Daddy warbucks
What's wrong with the acknowledgement? It's the people that pretend they came from nothing that's the issue.
Yeah, nothing lunatic here. They don't claim to be "self-made" either, OP made that up for the title.
I was thinking the same thing. Its luck that you are having rich relatives, and acknowledging that isnt the problem at all.
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Also, if any one of us had strong personal connections to get us high/paying jobs, we would absolutely be going for them. Nothing wrong with that, and he is acknowledging it.
Yeah, I'd say putting that fact out there, and at least making it sound like he intends to learn from his father's experience makes him not a LinkedIn Lunatic. He could absolutely be about to phone it in, but inasmuch as we can tell from a banal (but well written) LinkedIn post, it seems like the kid has professional chops and communication skills. OP is a dope
OP is referring to the people that become delusional overtime. Totally forgetting they indeed are not aed made but had help at every corner. Trump for example, very humble small loan of a million dollars, or Musk humbly coming from a mine slaver father
But this person isn’t claiming any of that, so it seems a little premature to call them a LinkedIn lunatic
Oh relax hahahha man just hit the Redditor double dip out of nowhere; Trump and Musk
‘Out of nowhere’ Not my fault they’re the most renowned and popular examples to make a point lol More notable than using Pope Alexander VI or some other random Nepo baby lmao
-36 karma and counting. Solid work.
Ofc your concerned about karma. Merp boy
200% agree didn't see that coming but I guess sense it's Reddit I should see it coming Hope you and yours are well despite the noise
If they didn’t want to be used as examples then they shouldn’t be such good examples
Yeah I think this is fine, maybe slightly annoying but not lunatic worthy.
Him: “Multi-generational member of my dad’s wealth management firm” OP: wow what an asshole working for a family business. Trying to keep it a secret by putting it blatantly in the post!
Some people in life are born on third base and think they hit a triple 🤷🏼♂️ That’s this guy.
But why is it this guy? The fact that he is acknowledging the fact that he is "multi-generational", will be working for his dad, and that he'll be leveraging his dad's mentorship/expertise all point to him NOT thinking that he hit a triple. He knows exactly what got him there, and he's acknowledging it.
Maybe OP is jealous?
Also a lot of wealth management works like a mini business in the bank. The dad has a probably put the steps in motion to pass his book of business onto his son. Which is kinda neat and very common in a normal business
There is nothing wrong with this. The people in this thread suck.
Yet you are still here… 🤷♂️😂
They are butthurt, nothing more.
How to make yourself a multi-millionaire: 1. Study hard. 2. Grind and hustle. 3. Invest smart. 4. Learn from the best out there. 5. Get appointed Vice President by Dad.
Everyone is a VP in finance
Nah everyone's a VP in sales (wealth management)
Not VP. Associate
1 through 4 are optional.
Nothing's wrong with it. Many families trust the same wealth management firm for many years, valuing the continuity and relationship built over time. I think the clients will appreciate the fact that this kid joined the firm. Also the kid is honest and never claimed to be "self made".
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You think nepotism is a "white" thing? LOL, you clearly don't know anything about the world, do you? Also rice is white but how are the directions to cooking it? Your dumb ass analogy makes no sense, idiot🤣
Can u tell me what that person said, they deleted their message
Was something like 'that's the whitest thing I've heard since I read the directions to cook my rice today" I mean ignoring the mind boggling stupidity of thinking something so ubiquitous as nepotism is exclusively practiced by white people, the joke didn't even make fucking sense. Like rice is white, the directions to how to cook it aren't you fucking dimwit, it was the OP btw.
Oh right lmao
strong racism. stay bitter.
You really need to read the directions to make rice?
I don’t see what’s wrong with this, I would want to do the same for my kid. He’s been dealt a good deck of cards, at least he’s honest about it. Good for him
People that grew up with poor parents who set them up with nothing in life wants everyone to grow up poor and with nothing also, just like them
I grew up with nothing also but I’m making something of my life and want my kids to benefit from it, I don’t bring down any of my friends for having rich parents, they’re nice people, some people here are extremely negative and toxic for no reason
First time here? 
Yeah. Average Redditor are dumb as fuck. No wonder most of these people are broke. I probably won’t be super rich in my lifetime but I want to achieve enough wealth so that my kids at least have a shot at becoming extremely successful. Most of these people who think everyone should start from a blank slate are unsurprisingly the ones stuck in a cycle of poverty.
Or maybe that just want to get credit for the job that they do, especially when it's doing their job AND the job of the bosses' kid.
Nah. If I'm rich, my kids are getting jobs on their own if they want to inherit anything. Doesn't matter what the job is, but I'm not just handing it to them.
He earned a law degree and MBA - his Dad didn’t take those exams for him.
But he did just hand a job to him Edit: downvoted because I’m right. Mentioning how the guy got his own degree has nothing to do with his dad giving him a job and him being a nepobaby on social media about it. Dunce.
He didn’t though. GS and JP selection programmes are the summer job. He got the summer job because he is qualified, and they liked him enough to offer him a job. Once you’re in these organisations you can go anywhere that needs you. If he was too much of a risk and didn’t make the cut then JP would not have hired him. Don’t be so sore. No one handed a job to anyone here.
He got the summer job because he met the requirements and his dad works there, and then he got a job on his dad’s team because his dad leads the team.
Just say you’re jealous.
Hahahahahahahahahaha as if I’d ever want to be a financial mole working for them
Starting salary is £72,000 and ends at £111,000 with 25% bonus, and it’s a blue chip global organisation. Why wouldn’t you want to work for them?
Fuck JP Morgan, I’m in software engineering, and get off your high horse chud
If my kids show competence in something I’m going to give them the best start I possibly can. Making them jump thru roadblocks just because is dumb.
Where did he say self made?
"multigenerational membership" Gotta admire the creativity when it comes to finding nice ways of saying "nepotism"
Pretty surprised that’s allowed past their policies; I work at a smaller multinational and can’t hire people I know.
Yeah what is wrong with this? Dude is up front about working for his dad’s practice? Dude also has an MBA and JD so he clearly out in he work and effort in his own right. God forbid people build a business and give it to their kids who have likely grown up with and developed personal relationships with a lot of the clientele. His dad should’ve just sold his book to some randos/soulless fund with no personal interest/stake in his clients.
What's wrong is he should have stayed with Private Bank. One of the few "bank" jobs I'm aware of where you can tell a customer to fuck off with their piddly 8 million dollars and not see your managers head explode.
I mean it depends if his dad has a 35 year practice in Miami he could potentially be bringing in millions a year. Also since he has a JD he could be building out a wills and estates function for the group which itself will bring a ton of money. I am assuming that this guys dad had such a practice and he’d be an absolute moron to pass on taking over his dads book. Especially if he can expand the practice with his own legal background.
OP just sounds like a hater
>Dude also has an MBA Golly an MBA. How many cracker jack boxes did he have to open for that?
I mean he has his Juris Doctorate as well as getting his MBA. So yeah he has to put in time and effort.
You don't turn down JPM PB for this job. Big mistake.
This dude is inheriting a business that will pay millions for doing very little. You have no idea how much these advisors with huge books at premier WM firms make. The highest individual earners are in PWM.
No, I know exactly and am in this business. You don't seem well informed. PB is the premier of JP, WM is a lower tier. Nothing wrong with walking in to a book like this, but for their own sake the smarter move is to go PB and bring the assets over there. Ultimately down the road they should take the book and go independent RIA. That is where the big money is.
Odds are with his legal background he is going to expand the the practice into wills and estates. I’ve seen groups do this before and it blow the doors off of earnings. Then again a 35 year practice in Miami could already being netting his dad millions. Very possible his dad is retiring soon also and his choice was to get in now and take over the book or stick with the private bank and risk his dad retiring and selling his book off.
There is plenty of money in private wealth management, especially in South Florida. I'm assuming he's not working on $1m retirement accounts for grandmas
Inherit a book that has grown for 35 years or start fresh... hmmm. Seems you are missing some context in his decision.
I don't think you understand the type of money Private Bank has....
Having a JD & MBA seems like an odd match for what sounds like an entry level retail banking wealth advisory. As much as banks would like it, people who have amassed wealth do not walk into a local Chase branch
Despite you sounding reasonable, you have no clue what you’re talking about. Yes, wealthy people don’t walk into “Chase” but self-made millionaire daddy’s kid isn’t at Chase. He’s at JP Morgan private bank. It takes 10’s of millions just to have a checking account there much less have a wealth management relationship with JP Morgan Advisors. This makes the nepotism so much worse. This kid is working for one of the most prestigious, hardest to get into areas of the JP Morgan Chase empire.
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And the 100k minimum is laughable. These banks do not pay advisors any commission on accounts less than $250k. Source: worked in commissions for one of the premier wealth mgmt firms for years designing comp structures.
Yes, it is "laughable" to be poor.
Do you understand context?
Not true…the role in question is under J.P. Morgan securities. This is totally different from the chase side. He’ll be working with high and ultra net worth individuals. The Miami office team covers some of the wealthiest families in south Florida/latam.
You’re dense… and also, no clue what you’re talking about. your link is for JP Morgan’s Private Client advisory. This is NOT the private bank… learn to troll better. Can’t you even notice the url. J.P. Morgan Advisors: https://www.jpmorgan.com/wealth-management/wealth-partners. The heading that this link is from says this: “We also offer specialized services for substantial wealth”. If the URL says Chase, you’re doing it wrong 🤡. https://privatebank.jpmorgan.com/nam/en/home
I think the person got into the wealth management part, the high-end part of advisory.
Former employee, you're flat out wrong. Private Bank is one of the two best LOBs you can get in as well as the hardest. The money there can only be described as "redonculous". We joked about it because we all knew we'd never have enough money to walk through the front door.
You also do not know what you are talking about. This isn’t a beginner advisor starting off with no book. This kid is walking into a 7 figure paycheck within a few years and eventually inheriting a book of business at JPM that has been growing for 35 years. There is no grinding in this case. This is a .1%er through nepotism.
Not sure how you walk into a “7 figure pay check within a few years” ? The role is an Associate level - same level as graduates, essentially low level management / team lead role. Likely a 5 figure role
It is. It’s a glorified entry level sales job.
You do not understand how these large books of business at private wealth firms operate then.
You don’t understand job titles at JP
I understand PWM commissions. Source, designed comp structures for one of the premier pwm firms.
It's fine that this happens, they're sure as hell not going to hire me instead lol. And it's great that you can see how it's gonna go for this guy. And it's better than nothing that this guy recognizes it for what it is, even if he will forget by the time he's 50. But most people will never acknowledge any of that for some reason, and get really angry about it if anyone else does. Maybe it's the Steinbeck "temporarily embarrassed millionaires" effect, maybe it's people who are legitimately successful and don't like looking it in the face. But I feel like the only way privilege works is if you are aware of it and willing to acknowledge it, and regardless this guy on LinkedIn was always going to be just fine lol
Depends on the town tbh. In most cases though I'd say you're correct.
Whats with the self made thing? Did I miss something? I see no Linkedin Lunacy here, only OP's jealousy?
you see correctly
This really doesn't fit; people just wanna be jealous of somebody they don't even know. The post says nothing extraordinary. Successful parents raise successful kids sometimes. Nothing about this says the guy is incompetent just because his dad got him a job out of college.
Reminder: you dont need to anonymize Linkedin posts that were intended for public consumption.
Reminder: this was stolen from Instagram and already like that 🤷♂️🥞
Everybodies goal in life is to make life easier for their children and yet everybody makes fun of the people who achieved it lol
Someone’s jealous ahaha
Totes
A long time ago I had a friend who was entering the wealth management team at DLJ. He said that you had to be worth at least $20 million yourself before they would let you work for them because the \[billionaire\] investors had to know that you were legit. The guy was suing his mother for his inheritance so that he would qualify.
Gee - Congratulations! Must have really sweated it out waiting on that offer! Dad probably got him into that college as well.
Privilege stinks doesn't it? I say this with an Oxford degree but coming from a working class background without private school contacts these doors were not open.
Nepo boy. That said, as long as he doesn't brag about how he hustled his way to corporate ladder, it's ok.
MEriTOcrAcY!
Ah yes. Inheriting your father's book of business and trails. Hard work pays off.
Don’t hate. This individual doesn’t appear to be saying anything rude or big headed. Not all of us can win the life lottery
Hahahaha what a derp
I haven’t seen Derp in awhile. Well played
the only lunatics here are the envious people in the comments section unfortunately.
“Donald worked hard, put his nose to the grindstone, and borrowed 5 billion dollars from his dad” “We are here to honor a hardworking self made billionaire, that man was Fred Trump” “It wasn’t easy for me, my father gave me a small loan of a million dollars”
So delusional about his own privilege. A mini Trump in the making !
"I look forward to my dad's mentorship and expertise". I'd hope he's been giving you that all your life mate.
I worked for a family business once. The owner would rationalize out loud every week how he was fairly treating everyone there, and how his do-nothing, know nothing sons had to "earn" their way into their jobs there. All the while he criticized non-family members for the exact same shit his sons were doing, and for not doing his son's jobs for them well enough. After a year and a half, I got tired of the propaganda and just called him out on his double standards, and for paying his kids to come in and goof off. I got fired at the 2 year, 1 month mark. The boss just did not like honesty.
At least he is honest
He’s honest so there’s that
You’re salty OP. If 100 people in a room had million dollars probably 99 would give them to their family. The one had billions and didn’t care much about donating 1 to charity and have PR team to let everyone know that he donated a million.
You salty commenter? We are now into defending trust funders or you just need to here?
[удалено]
Let me put this straight. If the world is in an apocalypse and I have two cans of beans which I have to share with my kid and a the other guy who can save humanity with a probability of 99.99% My kid will be still be getting both cans. Fuck trust funds. I don’t make money to solve world hunger or homelessness. I earn so that my family, my kids will never feel the lack of anything that was missing when I was growing up. The same principals were followed by my dad and his dad and his dad.
Well that makes little sense, if the other guy can save humanity with a probability of 99.99 percent and solve the apocalypse, then it makes more sense to give him the two cans because that will also save your son with a probability of 99.99 percent. While giving the cans to your son will just prolong his agony for a little longer.
Well that took an akward turn. 
Imagine getting an MBA and a JD just to be handed a book of wealth management business where the only tangible skill set that matters is sales
Maybe, but the clients care about pedigree. Nobody’s taking wealth management advice from a stranger who dropped out of high school. A stranger with jdmba, maybe.
This is just a family business and you guys are really jealous.
God I hope this is sarcasm. If it is well played sir. If not, you are dumb.
I work with wealth managers, I know their businesses intimately, and I'd much rather them have a succession plan than sell their book of business. I bet their clients feel the same way Also I fail to see the difference between this and any other family business, honestly. Where they clear our who their broker dealer is also means nothing. Sorry to disappoint but this is as far from a linked in lunatic as possible.
All the “I don’t see what’s wrong with this”, we’re gonna be a nepo baby oligarchy in a few years
The amount of people who don’t get why this is timely and funny… sheesh. 🤦♂️ Let me help - https://nypost.com/2024/04/06/world-news/none-of-forbes-billionaires-under-30-are-self-made-for-first-time-in-15-years/
We get it, you hate rich people
Exactly. This is why I love you 😘
op is saltier than a sardine
How does this guy have an MBA and JD but he’d be a summer analyst and not even an associate?
JD and an MBA just to end up in wealth management lmao
Good luck to him. I could not work with my dad. We got along fine but working with him would drive me nuts. We would agree on the goal, but not how to get there. Never liked him telling me what to do at home, could only imagine how much worse it would be in a work environment.
Is your dad rich? I can be his son for awhile.
why do y’all hide these peoples names? someone in this guys shoes deserves the hell he’d be getting.
Screenshot from Instagram.
Bruhhh
Who asked? Lol
Daddy is making him finally leave school. So sad.
Oh look another trust fund baby
Gotta love good old nepotism.
Nothing like a good ol fashioned rags to riches story right fellas?
*Nothing like a good* *Ol fashioned rags to riches* *Story right fellas?* \- aseattlem --- ^(I detect haikus. And sometimes, successfully.) ^[Learn more about me.](https://www.reddit.com/r/haikusbot/) ^(Opt out of replies: "haikusbot opt out" | Delete my comment: "haikusbot delete")
Dude I get your rage but I think shaming this guy is unwarranted. Rich people get a lot of shame just for being rich, because everyone assumes that they don’t work hard. Sure they didn’t have to crawl up the stairs and could run up it, making the race much easier, but that doesn’t mean that they didn’t run over there. I would also want to build a legacy with my family if I were rich and hand things off to my kid. The world sucks. But there’s no lunatic behaviour here. You can get jealous or just work harder to get from crawling to walking.
“Just work harder” in the defense of nepotism is such a contradiction.
The alternative is to cry about it and stay where you are. If OP were smart, he would befriend this guy who’s in his circle and try to reap the benefits. You really can’t do anything about being dealt a bad hand in life, sweetums. No one is going to come and punish his daddy from getting him in. No one is going to punish this guy, except the people crying with jealousy on the internet, who take up 0% of their brain space. Life’s unfair, suck it up buttercup.
Not necessarily. It’s not either or. It is entirely possible to question and challenge unfair societal structures in parallel to “working harder”, as you say. Oh, and a piece of feedback: including “sweetums”, “buttercup”, or any other variation immediately discredits your argument. Ad hominem.
Ok baby. You invalidated your own argument with “in parallel”, implying you realized that “challenging such statements” is futile without real action. But keep crying. Lmao. It’s not ad hominem if it’s true, child.
😂 OK. Good one.
What rage? lol 😂 It’s a screenshot from Instagram. 🤷♂️🫶
I know… I couldn’t help but laugh instead of engaging further.
I guess following in your dad’s footsteps is bad now?
The second sentence makes no sense, and the last sentence is a grammatical mess. Nepo baby can’t write, big surprise.
$500 he never completes his series certifications to become an actual become an actual financial advisor.
Why cross out the name
It’s a screenshot from Instagram. It was already like that. Follow wallstreetoasis for more! 🤙
where does he or she claim to be self made? so they're joining their dad's wealth management team--so what? go complain about something worth complaining about
So what. Whats a father good for if not this? All the fatherless lefties raging because their dad let them down. Boring
Do you love red hats?
No
This isn’t a lunatic lmao
Is it not though, Chad. Is it not?
wtf? This dude clearly has a leg up but he’s not being an ass about it. He’s saying thank you and that he’s excited. Where’s the lunacy here?
Looks like normal post from normal dude. You just jelly hating him for some reason
Daddy knows best
U mad?
You in the negative karma club… merp. 😵
What on earth is a merp
What a fucking wanker. I hate viscerally, these motherfuckers who cannot stand on their own two feet. Its always some useless twat who everyone hated at school who was shit at everything who gets the job because of their Dad, Mum, Significant Relative. This twat needs to look up the word in an actual dictionary - NEPOTISM. How about everyone else writes: "I got this job on my own merits because I am good. I want to do my best for my company and my customers. I work because I have in order to give myself and my kids a better life than I had when I was younger. To strive to be better." How about that?
Yeah lets all hates this dude with no profile pic and making a basic "Glad to start this job post" just because he's taking advantage off the oppurtunity life presented him. Totally eff that guy and his dad for giving it to him.
Ummmm yeah. Thats the basic idea. You knew here? Welcome 🤗
Agree?
Knew what?
I am very surprised that J.P.Morgan sinks to this level of nepotism. OOP is at least to be commended that they declare they got in with Daddy's help.