Wall Street Capitalizing on the Wealth of the Ultra-Wealthy

Concerns of a possible global recession are deepening as heightened inflation and interest rates act as a brake on spending, while geopolitical strife adds to a sense of profound economic uncertainty, the media reported.

But that’s not the case for everyone: The ultra-wealthy are doing just fine, and Wall Street firms are taking advantage of that, CNN reported.

In the past 10 weeks, JPMorgan (NYSE:JPM) Global Wealth Management opened 40,000 new accounts.

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