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JPMorgan is in a fight over its client’s lost $50m fortune

JPMorgan is in a fight over its client’s lost $50m fortune

Legions of Boomers have enough saved to be deemed sophisticated investors, yet many of those clients will inevitably face cognitive decline.

Tom Schoenberg

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By the time Peter Doelger signed the paperwork to have JPMorgan Chase handle his fortune, he had built a company spanning the US, sold it to a conglomerate and bet the proceeds on stocks and oil, beating the markets.

By 78, he said he was worth at least $US50 million. And, according to his family, he was starting to show signs of dementia.

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Bloomberg Wealth

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Original URL: https://www.afr.com/markets/equity-markets/jpmorgan-is-in-a-fight-over-its-client-s-lost-50m-fortune-20231227-p5etv1