Reaching Your Family's Financial Goals: Preeti Tandon Shares Her Rewarding Journey in Private Banking at J.P. Morgan

“My next big dream is to empower women with financial literacy and independence. As a divorced mother of two, I understand firsthand the importance of financial knowledge, particularly for women who may have traditionally played a more passive role in managing household finances.” With nearly 25 years of experience and expertise, today’s woman dreamer, Preeti Tandon is Vice President - Private Banking at J.P Morgan, where she works closely with individuals, entrepreneurs and families to help them plan for the financial futures they desire. In her Women Who Win interview, Preeti reflects on her career journey, from growing up in Mumbai to the Big 4 and realizing her passion for working with people and families. She shares key advice for the 2024 market, and what you should know about sustainable investing. Enjoy her story!

1. Tell us your story. Where did you grow up and how did you know you wanted to pursue a career in the financial sector? 

I started my journey in Mumbai, surrounded by its vibrant culture and energy. Initially, I pursued a career in accounting, securing a position at one of India's Big 4 firms. However, I quickly realized that my true passion lay in directly interacting with people and aligning finance with their personal and emotional needs, rather than solely crunching numbers behind the scenes.

In finance, I've learned that while making money is challenging, preserving and growing wealth can be even more daunting, especially amidst uncertainties, taxes, and potential threats. This is particularly true for high-net-worth individuals who often rely on private banking for specialized guidance.

In this environment, I've found my niche by providing tailored solutions aligned with each client's financial goals. Whether it's optimizing investments, implementing advanced tax strategies, or safeguarding assets, I take pride in helping successful families achieve their objectives and attain peace of mind.

The opportunity to make a meaningful difference in my clients' lives, coupled with the intellectual challenge of solving financial puzzles, is what inspires and motivates me within private banking. It's a privilege to shape their financial legacies for generations to come.

2. You are in the private banking space, currently at JP Morgan Chase. What do you like most about private banking? And how did you find your niche within finance? 

What I find most rewarding about working in The Private Bank, is the chance to assist ultra-high-net-worth individuals and families with complex financial needs. Private banks like JPMorgan offer extensive resources and tailored solutions for significant wealth management.

In my finance industry experience, I've realized that money management is challenging, particularly amidst uncertainties and tax implications. This challenge is heightened for individuals and families with substantial assets, who often seek specialized guidance from private banking.

In this dynamic environment, I've found my niche by leveraging expertise to navigate wealth management complexities and provide tailored solutions aligned with each client's financial aspirations. Whether optimizing investment strategies, implementing tax planning techniques, or safeguarding assets, I take pride in helping successful families achieve their financial goals.

The opportunity to make a meaningful difference in clients' lives, along with the intellectual challenge of solving financial puzzles, is what inspires me in private banking. It's a privilege to shape their financial legacies and ensure their peace of mind for generations to come.

3. This year's market has been challenging with a lot of moving parts. What are some common trends you are seeing with money management? As we begin the new year, any advice you would like to share for 2024 financial planning? 

In today's market, heightened uncertainties often prompt investors to make emotional decisions, favoring conservative investments for short-term security. However, timing the market perfectly is incredibly challenging and can result in permanent losses.

As we move into 2024, my financial planning advice emphasizes clarity of goals and aspirations. Understanding financial objectives is key for determining the right time horizon and risk tolerance. Aligning investments accordingly and prioritizing diversification are crucial for risk mitigation.

It's essential to resist emotional decisions during economic uncertainty and stick to an overall investment strategy for the long term. Stay informed about tax implications and regulatory changes and consider seeking professional guidance for comprehensive financial planning.

In summary, successful financial planning in 2024 and beyond hinges on clarity, strategic decision-making, and maintaining a long-term perspective amid market complexities.

4. You also completed an HBS Online course for Sustainable Investing. This is becoming a key area in the financial world. What interests you most about sustainable investing? 

What interests me most about sustainable investing is its pivotal role in addressing the urgent global challenge of climate change. We're at a critical juncture where the impacts of climate change are felt worldwide, affecting various regions and industries differently. The heavy reliance on fossil fuels impedes our transition to alternative energy sources.

Given the current CO2 levels, stopping global warming overnight isn't feasible. Climate change is a complex global challenge requiring collective action. Despite uncertainties, I'm inspired by the potential of sustainable investing to drive positive environmental and social impact while delivering financial returns.

Contrary to misconceptions, sustainable investments don't necessarily underperform. They can offer long-term benefits for investors, businesses, and the planet. By aligning investments with sustainability principles, we can contribute to a more resilient and sustainable future, fostering both financial prosperity and environmental stewardship.

5. As we are the platform for women dreamers, what is your next big dream? 

My next big dream is to empower women with financial literacy and independence. As a divorced mother of two, I understand firsthand the importance of financial knowledge, particularly for women who may have traditionally played a more passive role in managing household finances.

I envision establishing a non-profit global platform exclusively for women, providing essential education on finance topics such as cash flow management, investing strategies, and budgeting. By collaborating with like-minded women, we can create an inclusive online platform accessible worldwide, harnessing the collective strength of women to drive significant change in the global economy.

Ultimately, my goal is to instill greater self-confidence and self-reliance among women, leading to enhanced economic empowerment and opportunities for women globally. This initiative resonates with my passion for empowering others and making a positive impact on the world.

Thank you Preeti for sharing your inspiring story with us! We are excited to have you in our global Women’s Network!

Bio: Preeti Tandon is a Vice President and Banker in the Boston office of J.P. Morgan Private Bank. She works closely with highly successful individuals, entrepreneurs and families to help them plan for the financial futures they desire. Preeti enjoys taking the time to understand what is truly important to clients and their families. She applies nearly 25 years of domestic and international private banking experience. Preeti earned a bachelor’s degree in Commerce & Finance from Bombay University, and a Master of Marketing Management from Narsee Monjee Institute of Management Studies (NMIMS) in India. Preeti has certifications in Personal Financial Planning from University of California-Irvine, and Sustainable Investing & Alternative Investments from Harvard Business School Online. Preeti is a Women’s Investment Club volunteer, sharing her talents and advice to help empower others. She is also actively involved with her Indian community. Preeti and her two young children reside in Natick, Massachusetts. She is an avid hiker, reader, cook and a dance enthusiast. Preeti holds a hard-earned 1st degree black belt in Judo, breaking gender barriers in her native country when she took home the gold medal as India Junior National Champion.