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J.P. Morgan highlights diverse community approach to investments

Through a wealth management study, the financial firm provides an overview of the investment preferences of African-Americans and Hispanics.

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J.P. Morgan Wealth Management, the wealth management arm of the successful financial firm, presented the results of a new study focused on knowing the preferences of Americans regarding what motivates them, or prevents them, from investing.

The results, obtained after interviewing more than 2,000 people, indicate that investors who are part of the African-American and Hispanic communities, which are motivated by a purpose, seek to have more control over their businesses, while being much more concerned by the social and environmental impact of the companies in which they are investing.

Kristin Lemkau, CEO of J.P. Morgan Wealth Management, stated:

Investing is part heart and part science.

“It’s important to know what matters most to a client as we empower them to invest, help grow their wealth and keep them on track to reach their goals,” added Lemkau.

Methodology

The diverse investor study, conducted between April 26 and May 9, 2022, presents results based on a nationally representative sample of 2,014 U.S. adults from the general population ages 25-64 with investable assets, including additional samples for black and Hispanic Americans (692 white respondents, 594 black respondents, 624 Hispanic respondents, and 58 Asian respondents).

J.P. Morgan Wealth Management Diverse Investor Study

Here are the 4 key takeaways from the research, where most investors say they are “holding on tight” amid the turbulence of today's challenging markets:

1. Most African Americans and Hispanics prefer to have more control over their investments

59% of African Americans and 57% of Hispanic Americans want to take an active role in the selection of stocks, bonds or funds that make up their investment portfolio, compared to 46% of white Americans.

2. Black and Hispanic Americans care more about the social impact of the companies they are investing in

Black and Hispanic Americans rank the following requirements for companies where they plan to invest as a priority:

  • Must be owned, started, or operated by Black, Native American, and People of Color (BIPOC) (70% and 46%, compared to 27% White and 31% Asian).
  • They must offer a positive environmental impact (72% for blacks and Hispanics, compared to 55% for whites and 57% for Asians).
  • They must be owned, started, and/or operated by women (60% and 48%, compared to 30% white and 40% Asian).
  • Promote racial and gender equity and diversity (66% and 54%, compared to 35% White and 42% Asian).

3. Despite the volatility and uncertainty, most investors are not worried about the market falling, but they are worried about the following criteria:

  • They are concerned about rising inflation and interest rates (88%)
  • They wouldn't be worried about a 20% drop in their portfolio (69%)
  • Automate their investments on a regular basis (58%)

4. Women are optimistic about their financial situation, but take a more cautious approach than men

  • 59% of women say their financial situation is better now than it was five years ago, compared to 62% of men.
  • 45% of women describe their investment strategy as cautious, compared to 33% of men.
  • 23% of women have created a will, compared to 17% of men.

“Our goal is to help close the racial wealth gap and help all members of the communities we serve have access to the resources they need to build generational wealth. When more people have a fair shot at opportunity, our economy and communities are stronger,” said David Miree, Global Head of Diversity, Equity and Inclusion at JPMorgan Chase.

For more information on the findings of the J.P. Morgan Wealth Management study, click here.

“We love to see all people, but under-represented investors in particular, feeling more confident about their finances, and we want to keep that momentum rolling. It’s why we created our Women and Investing resource hub and continue to host in-person educational seminars across the country. It’s all part of empowering women and diverse investors to build wealth by helping them cut through the noise and make decisions that fit their lives,” noted Jeanne Sun, General Manager of Inclusive Investing at J.P. Morgan Wealth Management.

About J.P. Morgan Wealth Management

J.P. Morgan Wealth Management is the U.S. wealth management business of J.P. Morgan Chase & Co., a leading global financial services company with assets of $3.8 trillion and operations around the world.

The fund has 5,000 advisers and $630 billion in assets under its supervision.

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