In JPMorgan’s ‘War Room,’ Private Banking Meets Cross-Selling

Salespeople of all stripes know the drill. Go to the morning pump-up sessions. Hit the revenue targets. Move product or move along.

The playbook for selling everything from phones to time shares also crops up in a rarefied environment—the Manhattan offices of JPMorgan Chase & Co.’s elite wealth-management unit. There, private bankers working with JPMorgan’s richest customers are encouraged to steer client assets into certain funds and instruments that generate rich fees for the bank, according to several former employees.

How banks cross-sell—essentially, a “would you like fries with that” approach—has come under regulatory scrutiny after revelations last year that Wells ...