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The Tuscaloosa, Ala.-based credit union selected Cetera Financial Institutions to help it grow its investment services program, which has approximately $40 million in brokerage assets.
People have long been wary of buying long-term care insurance, thinking they wouldn’t live long enough to collect any benefits. But new products that address their worries and complaints may help them come around.
Many Americans spend down their savings thinking they'll never be among the “oldest old”—those 85 and up who need the most care. Here's a sample of their expenses.
The new exec will help the bank's wealth management business groups work together to bring in more business.
The Syracuse, N.Y.-based credit union chose CUSO from among five third-party broker-dealers for its technology, reporting capabilities and specialization in financial institutions.
Julz Burgess will provide strategic direction and focus on business development, client service and retention.
Julie Shafer joined the bank's Wealth Management Group as head of the planned Strategic Philanthropy and Purpose Investing offering.
The advisor, who worked at U.S. Bank, claimed that he was fired in retaliation for complaining about a co-worker who he felt made unsuitable investments for the advisor's 94-year-old client.
The bank's newest executive comes from Allianz Life Insurance and will oversee more than 300 professionals that support fiduciary needs across Wells Fargo.
Eric Sanderson joined the bank from Ascent Private Capital Management, the ultrahigh-net-worth business of U.S. Bank.
David Kuipers, named president and CEO of Associated Investment Services, replaces Bill Curtis, who retired in July.
The bank acquired the A.I. Group, a provider of employee benefits consulting and insurance brokerage services in Georgia.
Jorge Daniel Usandivaras claimed to have been fired for blowing the whistle on what he saw as improper transactions.
Banks reeled in $36.4 billion in record first-quarter wealth management revenue, up 4% year-over-year.
Karen Ann Vodden was sanctioned for failing to disclose her role under powers of attorney for her elderly aunt and uncle. The former advisor worked for community institution Blackhawk Bank.
Second-quarter revenue from trust and investment management services plunged 28% year-over-year to $84 million. Meanwhile, retail brokerage revenue rose 5% to $80 million.
Second-quarter profits for the asset management group climbed 17% year-over-year to $62 million on $416 million in revenue.
The bank's wealth management and securities business earned $68 million in second-quarter profit, up 9.7% year-over-year.
J.P. Morgan Private Bank and J.P. Morgan Securities managed a 6% year-over-year increase to its top line, despite a decline in the number of advisors.
A private client banker with J.P. Morgan Chase allegedly took $200 from a customer's wallet; and a personal banker from Wells Fargo Bank allegedly endorsed a check made payable to a client and deposited it into her personal account.