JP Morgan Hong Kong
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more



This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $3 billion.










JP Morgan Shuts Down Financial Education Student Website Acquired for $175 Million in 2021, Frank Founder Charlie Javice Claims 4.3 Million Customers But JP Morgan Verified Less Than 300,000 Customers

14th January 2023 | Hong Kong

JP Morgan has shut down financial education website for students (Frank) acquired for $175 million in 2021, with Frank founder Charlie Javice and Olivier Amar (Chief Growth Officer) claiming 4.3 million customers but JP Morgan could only verify less than 300,000 customers.  In December 2022, JP Morgan filed a lawsuit against Frank founder Charlie Javice and Olivier Amar (Chief Growth Officer).   JP Morgan in the filing, alleged that executives from Frank had paid a university professor $18,000 to create fake students information for Frank database to support the 4.3 million customers claim.  JP Morgan had sent test emails to the 4.2 million customers with only 28% of emails delivered (JP Morgan delivery ratio is around 99%).  A random sample of 400,000 customers were sent an email with only 103 click-through to Frank website.  In 2021, JP Morgan had acquired Frank (financial education website for students) for $175 million.   In January 2023, Frank founder Charlie Javice sued JP Morgan for terminating her employment in “bad faith” and seeking $28 million in payments.  In the 2021 September $175 million acquisition by JP Morgan, Frank founder Charlie Javice received $9.7 million and Olivier Amar (Chief Growth Officer) received $5 million.  See below for JP Morgan acquisition of Frank. 

“ JP Morgan Shuts Down Financial Education Website for Students Acquired for $175 Million in 2021, Frank Founder Charlie Javice Claims 4.3 Million Customers But JP Morgan Verified Less Than 300,000 Customers “

 



- Article continues below -



Sign Up
Basic Member: $5 Monthly | $60 Yearly
Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680)


The 2024 Investment Day
23rd July Hong Kong | 25th July Singapore

Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 23rd July 2024 in Hong Kong, 25th July 2024 in Singapore.
Visit | Register here


The 2024 Family Office Summit
16th Oct Hong Kong | 23rd Oct Singapore

Join 80 single family offices & family office professionals in Hong Kong & Singapore
Links: 2024 Family Office Summit | Register here





 

JP Morgan Chase Acquires Frank, the Leading College Financial Planning Platform for Students 

Frank

JP Morgan Chase Acquires Frank, the Leading College Financial Planning Platform for Students

Acquisition to help millions of students and adult learners plan, save, and apply for college 

21st Sept 2021 – JPMorgan Chase & Co today announced that it has acquired Frank, the fastest growing college financial planning platform, to help millions of students and their families navigate their financial journey to college and beyond.  The firm will acquire Frank’s entire business, including its Easy FAFSA®, Classfinder College Course Marketplace, Scholarships & Employment tools, and Financial Education and Careers content.

“We want to build lifelong relationships with our customers,” said Jennifer Piepszak, co-CEO of Chase. “Frank offers a unique opportunity for deeper engagement with students. Together, we’ll be able to expand our capabilities for students and their families, helping them financially prepare for college and other major moments in their future.”

Frank currently serves more than five million students at over 6,000 higher education institutions across the country. Their simple online portal lets students apply for financial aid in minutes and enroll in Frank’s catalogue of affordable online college courses.

Frank’s solutions uniquely cater to 17–24-year-old students, 24+ year-old adult learners, parents and guardians, and households of a low-to-moderate income. Their platform includes:

  • A streamlined FAFSA® application process that reduces time from hours to minutes
  • Advice to students appealing and negotiating financial aid packages
  • Curated scholarships
  • ClassFinder, a marketplace of discounted college-level courses for transferable credit

The deal is expected to accelerate Chase’s strong foundation with students including products, content, and guidance for students of all ages, with branches and ATMs on or in close proximity to over 300 college campuses across the country. These branches offer financial health resources and advice for students and their families like budget building, starting a savings plan or opening their first checking account.

The Frank brand will continue to be led by Frank Founder and CEO Charlie Javice. She will join the firm as Head of Student Solutions on the Digital Products team.

“We launched Frank to make college more accessible for students and their families, and have already helped millions across the nation,” said Charlie Javice, Frank Founder and CEO. “We look forward to joining the Chase family to further this mission. Together, we can multiply our impact to help more students and their families achieve their financial goals and education dreams.”

Ms. Piepszak added, “We are excited to welcome Charlie and Frank to JPMorgan Chase, and look forward to working together to empower students and their families to build a stronger financial future.”

 

About Frank

Frank was founded in 2017 by then 24-year-old female founder Charlie Javice to make college more affordable for millions of Americans and help them achieve financial wellness in their lives. More than five million students have benefited from Frank’s services on their path to higher education. The Frank platform includes an easy to navigate FAFSA® application form, ClassFinder marketplace for shopping for online courses, and resources to help students navigate a variety of financial situations. Investors included: Chegg (NYSE: CHGG); Aleph, the U.S.-Israeli investment fund that also funded Lemonade; Silicon Valley Bank; and Marc Rowan, the co-founder and CEO of Apollo Global Management, one of the largest private equity firms in the world.

About Chase

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with assets of $3.7 trillion and operations worldwide. Chase serves more than 60 million American households with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans, and payment processing. Customers can choose how and where they want to bank: More than 4,800 branches in 48 states and the District of Columbia, 16,000 ATMs, mobile, online, and by phone. For more information, go to chase.com.




Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.

Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more.  List hard-to-find financial & private wealth services.

Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]

Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?



Quick Links


2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM


For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below

For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register


    Investment ProfessionalAdvisorProfessional InvestorFinancial ProfessionalManagementOthers


    $20 million to $100 million AUM$100 million to $300 million AUM$300 million to $1 billion AUM$1 billion to $10 billion AUM$10 billion to $100 billion AUMMore than $100 billion AUM


    Mailing List / Free TrialMonthly SubscriptionYearly SubscriptionMembershipEvents


    2024 Investment Day Hong Kong 23rd July2024 Investment Day Singapore 25th July2024 Investment Day Hong Kong 4th Sept2024 Investment Day Singapore 11th Sept2024 Family Office Summit Hong Kong 16th Oct2024 Family Office Summit Singapore 23rd Oct / 6th Nov










    Web links may be disabled on mobile for security.
    Please click on desktop.










    Caproasia Users

    • Manage $20 million to $3 billion of assets
    • Invest $3 million to $300 million
    • Advise institutions, billionaires, UHNWs & HNWs

    Caproasia Platforms | 11,000 Investors & Advisors

    Monthly Roundtable & Networking

    Family Office Programs

    The 2024 Investment Day

    • March 2024 - Hong Kong
    • March 2024 - Singapore
    • June 2024 - Hong Kong
    • June 2024 - Singapore
    • Sept 2024 - Hong Kong
    • Sept 2024 - Singapore
    • Visit: The Investment Day | Register: Click here

    Caproasia Summits

    Contact Us

    For Enquiries, Membership
    [email protected], [email protected]

    For Listing, Subscription
    [email protected], [email protected]

    For Press Release, send to:
    [email protected]

    For Events & Webinars
    [email protected]

    For Media Kit, Advertising, Sponsorships, Partnerships
    [email protected]

    For Research, Data, Surveys, Reports
    [email protected]

    For General Enquiries
    [email protected]





    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014




    Previous articleHong Kong Introduces Bill on Tax Exemptions for Single Family Offices with Minimum $30 Million Assets, Retrospective from 1st April 2022 & Passes Control, Holding Period & Immovable Property Tests
    Next articleCiti Global Wealth Outlook 2023: Markets in 2023 Lead Recovery in 2024, Underweight Equities, Overweight Fixed Income, Opportunities for Loans in Private Markets, Equities +10%, Fixed Income +5.1%, Cash +3.4%, Hedge Funds +9.5%, Private Equity +18.6%, Real Estate +10.6%
    Caproasia.com covering capital markets, investments and private wealth in Asia. Our users manage, advise & invest $25 trillion assets in Asia