I spent the afternoon working on a project with an advisor I subadvise for so I wasn't able to make time for a real blog post but I have what I think is an interesting observation. His practice is primarily professional athletes and he has a new client he's bringing over from JP Morgan.
The interesting observation is that for the 80 or so equity holdings, they didn't use any JP Morgan ETFs. JP Morgan has developed into strong second tier if not higher ETF provider and this account didn't own any.
Maybe I shouldn't be surprised but I am.
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