Despite a decline in client assets, JPMorgan Chase & Co.’s wealth management businesses generated stronger second-quarter revenue, as the company reported better than expected second-quarter earnings.
Assets under management declined 5% to $1.16 trillion as customers withdrew $29 billion from cash-like funds during the quarter and $126 billion over the past year. During the quarter, investors added $13 billion to longer-term stock and bond funds.
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