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At 93, She Waged War on JPMorgan and Her Own Grandsons (and Won)

Feb. 17, 2021, 9:00 AM

Beverley Schottenstein was 93 years old when she decided to go to war with the biggest bank in the U.S.

It was a June day, and the Atlantic shimmered beyond the balcony of her Florida condominium. Beverley studied an independent review of her accounts as family and lawyers gathered around a table and listened in by phone. The document confirmed her worst fears: Her two financial advisers at JPMorgan Chase & Co., who oversaw more than $80 million for her, had run up big commissions putting her money in risky investments they weren’t telling her about. It was the latest...

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