JP Morgan Chase Buys College Financial Planning Platform Frank

JP Morgan Chase & Co. (JP Morgan Chase), one of the oldest financial institutions in the US, has closed the acquisition of the college financial planning platform Frank, for the purpose of enhancing its offerings for students.

With this deal, JP Morgan Chase is able to deepen its ties and establish lifelong relationships with students, according to the company’s co-CEO, Jennifer Piepszak.

“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 was launched in 2017 by its then 24-year-old CEO, Charlie Javice, who is reported to be continuing to lead the firm. He will join JP Morgan Chase as Head of Student Solutions on the digital products team.

In June, Fazzaco reported that JPMorgan Chase has acquired the UK digital wealth manager Nutmeg​, so as to further its expansion into the UK retail banking and investment market.