GoKawiilEx-JPMorgan advisors Scott and Atwood launch firm betting on concentrated AI stock holdings
Phil Scott and Jim Atwood, formerly of JPMorgan, left the bank in October to start their own wealth management venture. Their stated goal is to preserve clients' concentrated stock portfolios, many of which are heavily weighted toward AI-related companies, rather than pushing diversification as larger firms typically advise.
GoKawiil's interpretation of the reporting above, not reported fact.
The move tests whether independent advisors can retain high-net-worth clients by catering to their existing risk appetite instead of imposing standard diversification practices, which could signal a broader shift in how boutique wealth managers compete with large banks. If AI stock valuations falter, the strategy's success or failure could serve as a cautionary or validating case study for similar concentrated-portfolio approaches across the industry.
- Scott and Atwood departed JPMorgan in October to start an independent advisory firm.
- Their approach keeps clients' concentrated, AI-heavy stock positions rather than diversifying them.
- The strategy's performance will likely be viewed as a test case for concentrated-portfolio wealth management amid AI market volatility.
Source: wsj.com, 2026-11-06
Published there as: “The JPMorgan Alums Whose Big Bet on AI Stocks Is Being Put to the Test”
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