Margarida Correia

Wealth management services generated $7.5 million in revenue, up nearly $2 million, or 34%, from $5.6 million in the same quarter last year.

The wealth management business generated $111 million in third-quarter revenue, up 35.4% from $82 million last year.

Such annuities typically mean “watered-down guarantees” and there’s not a lot of demand for that, a panel of speakers said at LIMRA’s 2013 annual conference on Monday.

The typical credit union would have to increase the number of advisors it deploys by 39% to get to the same deposit coverage as community banks.

Trust and investment services generated $123.8 million in third-quarter revenue, up 7% year-over-year.

Generation X and the younger Generation Y—unlike Baby Boomers—see banks as places where they want to both do their banking and manage their investments.

U.S. Bank’s wealth management and securities services posted a notable drop in its contribution to the bank’s bottom line, falling to $34 million from $43 million last year.

In the third quarter, the bank’s wealth and investment services generated $8.1 million in revenue, up $909,000, or 13%, from a year ago, but 9% shy of the record $8.9 million it produced in the second quarter.

Almost half (46%) of advisors believe their clients donate to charity to reduce their taxes, when in fact only 10% do.

Umpqua Bank’s plan to grow the private banking business may shift into high gear if its parent company’s planned acquisition of Sterling Financial Corp. is approved.

Helen Nugent, an 18-year veteran of Northern Trust, oversees a team of five sales directors across a six-state region and will drive regional professional recruitment efforts.

Nearly one in 10 investors now hold at least 50% of their portfolios in ETFs, up from 4% last year.

The hires are part of BNY Mellon’s campaign to increase its nationwide sales force and add private and mortgage bankers and other professionals in top U.S. wealth markets.

Over the past two years, the number of advisors jumped to 60 from 45, an important factor in the unit’s revenue growth.

The wealth manager moved its Cleveland office to a larger space that will accommodate more clients and more staff.

More than three in five (62%) credit union members trust their credit unions, yet only 18% trust the advisor there. The positive view: this is an “incredible opportunity” to improve.

To grow the business, the bank will significantly increase the number of advisors from 25 to some 40 to 45 over the next three to five years.

Nearly one in five working-age Americans (18%) believe they will never be able to retire, more than the 12% who said so globally.

The firm will provide clients of its affiliate M&T Bank with expanded wealth management and investment services, while developing new business.

The new hires will be responsible for business development and identifying opportunities for expanding the firm’s client base.