Angelena Mascilli

Managing Director, Head of J.P. Morgan Wealth Management Banking

Angelena Mascilli works closely with wealth advisors and their clients, including individuals, families, foundations and small businesses to understand their financial goals and propose strategic cash solutions to fulfill short and long-term liquidity needs. In conversation with clients and advisors, Angelena often speaks to traditional bank products such as checking, savings and certificates of deposit as other short-term options for liquidity offered through investment accounts. Improving the client experience and deepening clients’ relationship with their advisor is at the core of Angelena’s work.

1. What is a lesson you learned about banking – both as an individual and in your role at J.P. Morgan - that informs how you bank today?

Before taking this role, I thought of my banking relationship as separate from my investment relationship. Two different institutions, two different partners (through my banker and advisor) – and I never really brought those conversations together.

After taking this role and working closely with Advisors, I had a moment of clarity around the importance of bringing those relationships together so that I could assemble a holistic view of my cash and what to do with it.

How did that moment of clarity come about for you?

In everyday conversations with our clients. I would listen to our clients talk about their life events – tax refunds, bonuses, the sale of a business – and the bank account was the first – but not necessarily the last – stop for that cash. Quickly, I realized that connecting that operational bank account with an investment strategy allowed our clients to get a better sense of how much cash is necessary for the day-to-day, and where a client could be exploring other options to make your money work harder for you. This is a framework I now employ in all my client work, as well as in managing my own finances.

2. What are two key factors that high-net-worth individuals (HNWI) should consider when choosing a financial firm where they can also conduct their banking?

The first is the connection our clients make with their Advisor and with J.P. Morgan, to share their financial goals as well as how they think about cash. As client portfolios grow over time, they require an Advisor that can address their diverse financial needs including cash and investment management, estate planning, tax optimization and philanthropic advisory. So when looking for a financial firm, you’ll want to connect with an Advisor that understands the depth and breadth of our platform at J.P. Morgan and how to leverage that platform for your specific needs.

The second factor I’d highlight is how we bank our clients. As a high net worth investor, we know that your lifestyle is busy and complex – and you should expect a high level of personalization because banking and wealth strategy are not one-size-fits-all. Things like simplicity of service, access to funds when you need them, privacy and confidentiality, fee transparency and elevated digital services are all great examples of how we help make our clients’ lives a bit easier.

3. How can the reputation of a financial firm impact clients?

Our clients rely on the banking experience we provide in order to run their financial lives – things like receiving payments, paying bills, moving money and evaluating the interest rate they can truly meet. That’s why banking with a reputable firm that also has a long history of successfully managing high net worth portfolios is important. And for many clients, this stability helps preserve not just their own wealth, but also the legacy they wish to pass on to the next generation.

4. What is the advice model and what value does it offer to clients?

This is another way of describing what we mentioned above. The advice model means the advisor is at the center of the client’s overall relationship across planning, banking, borrowing and investing, which helps the client to have a more holistic and streamlined experience when managing their finances. Under the advice model, all of the client’s portfolio can be aggregated within one financial house. Some benefits of this structuring include:

  • Having a single point of contact and sounding board across your portfolio, rather than having to direct different questions to different teams.
  • Having a deeper and more personalized relationship with the advisor, who comes to really understand the client’s goals, risk tolerance and preferences. This allows for the development of a wealth plan that is designed to meet the client’s needs.
  • Greater ease navigating complex financial situations such as liquidity events, multiple income streams and diverse investments that would otherwise fall under different points of contact. With the advisor at the center of each of these components of the client’s wealth, they can formulate specialized strategies.

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