Analysis · J.P. Morgan · Breakaway
What's Driving the Renewed Advisor Migration From J.P. Morgan
Large, high-producing teams are once again exiting J.P. Morgan Advisors, reflecting structural tensions within the platform that are increasingly difficult for entrepreneurial advisors to ignore.
By Advisor News Network
June 2, 2026
5 min
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In a recent example, the team of Elizabeth A. Weikes and John W. Slattery left J.P. Morgan Advisors for Wells Fargo Advisors' Private Client Group in New York. The team generates approximately $17 million in annual revenue on $3.1 billion in client assets.
Large, high-producing advisory teams are once again exiting J.P. Morgan Advisors, the Wall Street firm's traditional brokerage unit. The movement is not isolated. It reflects structural tensions within the platform that have persisted for years and are becoming increasingly difficult for entrepreneurial advisors to ignore.
Their departure follows that of The Degenaars Babb Group, a $5 billion team that exited the firm last year, and other multi-million-dollar groups.
"In today's marketplace, elite advisors can access sophisticated products, lending capabilities and global investment resources across multiple platforms without institutional friction or channel conflict," says Gershman Group Chief Executive Officer Roger Gershman.
J.P. Morgan Advisors operates as a relatively small brokerage business inside the broader JPMorgan Chase empire. With roughly 500 advisors, it sits alongside — but beneath in terms of strategic priority — the much larger J.P. Morgan Private Bank and the rapidly expanding Chase Private Client franchise.
TagsJ.P. MorganWells FargoBreakawayRecruiting
