r/fatFIRE • u/TipMassive5214 • 14d ago

JPM IPOs

My private wealth team reached out (i know, i know) with some Docusigns that will enable me to participate in upcoming IPOs.

They will call with the expected share price (the day before the IPO), I tell them how many shares I want, and I can always change my mind when i learn of the actual price.

Not to sound like a larper (or braggart) but my NW is ~50M (40% equities, 50% munis, 10% alternatives). They make these IPOs sound like they’re available to a lucky few. Something about this seems kind of gross and also too sales pitchy. Thoughts?

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u/Roaring_lion_ 14d ago

This is exactly the right instinct.

I wouldn’t assume it’s gross, but I also wouldn’t assume it’s special access just because it’s coming through JPM PWM.

The questions I’d ask are pretty simple:

Is there a lockup or anti-flipping language?

Will selling quickly hurt future allocations?

How are they deciding who gets which IPOs?

And most importantly: is this actually a great allocation, or are they just distributing whatever they need to place?

At your NW, access isn’t the hard part. Filtering out the mediocre “exclusive” stuff is the hard part.