Managing a large portfolio is a game of skill, strategy, and foresight, all of which
Michael Briese brings to the table as a private client advisor and managing director at
J.P. Morgan Wealth Management. In this interview, you’ll read how Michael approaches managing wealth, navigating volatile markets, and guiding clients toward long-term financial success. Whether you’re a seasoned investor or have just started dipping your toes, you’ll learn plenty from this professional.
Investment philosophy
Joy Wallet: What is your investment philosophy when managing a large portfolio, like $1bn in assets?
Michael: My investment philosophy revolves around helping clients invest for their goals, stay focused on the long term, manage risk, and have a diversified portfolio. For many clients, strategic asset allocation is important to help balance growth, income, and capital preservation. Most importantly, every client has their own unique financial situation, so each portfolio is tailored to their specific financial needs and goals.
Balancing risk and reward
Joy Wallet: How do you balance risk and reward for clients with different financial goals?
Michael: I first work to understand each client's goals, time horizon, and comfort with risk to help them create a personalized plan. For long-term goals, this can typically include
growth-focused investments. For short-term goals and spending needs, I help clients make sure they have enough cash and include shorter-term investing opportunities.
Beyond investments, I often help liaise with client's other advisors, including their tax attorney, insurance agent, and accountant, for conversations about
estate planning and their holistic financial picture. Ongoing communication and regular reviews are crucial to help clients stay on track as they work towards their financial goals.
Common investor pitfalls
Joy Wallet: What are some of the most common mistakes individual investors make when managing their portfolios?
Michael: Many investors become fearful during market volatility and economic uncertainty. This can lead to emotional, reactive decision-making. Having a plan helps clients stay focused on the long term and their goals rather than market ups and downs. Sometimes, investors try to time the market, but I remind them time in the market is more important than timing the market.
Building long-term wealth
Joy Wallet: What would be the best approach to long-term wealth building for someone starting out?
Michael: Start by creating a plan that is built around your personal short-, medium- and long-term goals and priorities. Many people often think it’s too late to start investing or they don’t have enough money to invest. The sooner you start, the better, but it’s also never too late, and investors can start with a small amount. The
earlier you can start investing, the more time your money has to potentially grow. This is why it is so important to take a long-term approach.
It’s often a good idea to set up recurring contributions to investments to automate the process. This will remove the guesswork of when is the best time to invest and how much.
Market volatility
Joy Wallet: How should retail investors adjust their strategies in times of market volatility?
Michael: It’s important to remember that volatility is normal. Market swings can be painful but are a natural part of investing. Investors can think of them as a consequence of being able to grow investments in the long run. Retail investors should avoid making impulsive decisions during times of market volatility. They can benefit from reviewing their goals and staying the course with their long-term plan. Rebalancing portfolios to keep a mix of assets and taking advantage of investments with the opportunity to grow may be prudent.
The power of diversification
Joy Wallet: What role does diversification play in building a successful investment portfolio?
Michael: Diversification is a cornerstone of risk management. Spreading investments across various asset classes, sectors, and regions can potentially help balance the impact of poor performance in any single area. The goal is to achieve a more stable return over time while mitigating the risk of losses.
Preparing for retirement
Joy Wallet: What advice would you give to someone who’s looking to retire in the next 5–10 years?
Michael: As retirement approaches, it can be helpful to shift into a more conservative strategy. This can include
bonds or stocks that offer dividends. Because retirement can be a long period of time, often 20–30 years, investors might want to consider maintaining some exposure to growth-oriented investments. They should make sure they have an
emergency fund and consider strategies for withdrawing retirement income efficiently to avoid outliving savings.
Technology and the future of finance
Joy Wallet: What role does technology play in investment management today, and how do you see it shaping the future of finance?
Michael: Technology helps clients invest and engage with a financial advisor in the way that works best for them — in person, remotely on video, or from their phone. My clients like to do some tasks on their own, such as depositing checks, and they can do that on the Chase mobile app.
Technology has also created opportunities for investors to get more customized insights, and it has improved how they see their investments’ performance. Clients can also get more personalized planning with digital tools like J.P. Morgan Wealth Plan, which lets investors collaborate on a plan for their finances with their financial advisor from their desktop or phone.
Inflation and interest rates
Joy Wallet: How can investors protect their portfolios from inflation or rising interest rates?
Michael: To protect against inflation, many investors should think about diversifying their investments into areas that can perform well when prices rise. Additionally, when interest rates rise, bond values can decrease, so considering shortening bond maturities can help mitigate risk.
Habits of successful investors
Joy Wallet: What do you think separates successful investors from the rest? Are there particular habits or strategies they follow?
Michael: Successful investors tend to have discipline, patience, and a
long-term plan. They focus on fundamentals, avoid emotional decision-making, and are willing to ride out market volatility. Regularly rebalancing portfolios and sticking to a well-defined strategy while remaining adaptable to new information are key habits.
When to adjust
Joy Wallet: How often should investors adjust their financial strategy?
Michael: It’s common for investors’ priorities to change over their lifetime. This is why it’s so important for them to regularly check in on their long-term plan. Whether investors are
saving for retirement, education costs, or a home, they should make adjustments as their priorities change. An advisor can work with you to regularly check in on your plan and adjust it as needed, especially during major life changes, such as a new job, marriage, divorce, or the birth of a child.
Educating clients
Joy Wallet: How do you educate your clients about financial markets and help them make informed decisions?
Michael: Education starts with simplifying complex financial concepts and providing tailored guidance. I offer regular portfolio reviews and market updates and explain the rationale behind investment decisions. Scenario analysis can help investors visualize the impact of different strategies on their goals.
At J.P. Morgan Wealth Management, we offer free educational articles on our content hub at
chase.com/theknow, where investors can find articles on a wide range of personal finance topics, such as getting started investing, planning for retirement,
saving for college, and markets.
Joy in life
Joy Wallet: On a personal note, what brings you the most joy in life, and how does it influence your work as a financial advisor?
Michael: Helping clients achieve financial security brings me immense satisfaction, as it allows them to focus on what matters most in life — whether it's family, passions, or philanthropy. My personal joy comes from knowing that my work empowers others to pursue their dreams with confidence, and this motivates me to provide great financial guidance to clients.
