JPMorgan Chase acquires college financial planning platform Frank
Reuters
Published Sep 21, 2021 11:32AM ET
(Reuters) - JPMorgan Chase & Co (NYSE:JPM) said on Tuesday it had acquired Frank, a college financial planning platform used by over 5 million students in the United States.
The deal is the latest in a string of acquisitions by the largest U.S. bank, and will allow the bank to deepen ties with students, it said.
The financial terms of the deal were not disclosed.
In recent months, the bank has also bought British digital wealth manager Nutmeg, ESG-focused fintech OpenInvest and the Infatuation, owner of the restaurant review brand Zagat.
Frank was founded in 2017 by its then 24-year-old chief executive officer, Charlie Javice, who will continue to lead the firm. Javice will join the bank as head of student solutions on the digital products team, JPMorgan Chase said.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.