Matt Ackermann

BNY Mellon announced Monday it hired Mitchell Harris as president of its investment management division.

Despite recent market fluctuations, 55% of investors remain bullish about the market and expect the Standard & Poor’s 500 to increase between now and the end of the year.

Ninety percent of advisors said they aren’t doing enough to market and publicize their practice effectively, according to a survey by Peak Advisor Alliance. Most still wary of social media.

Most broker-dealers and compliance departments are terrified of social media, but advisors cannot afford to be, Matthew Halloran a practice management coach at Peak Advisor Alliance said during the company’s Excell Meeting.

Ninety percent of advisors generate business through referrals, but only 10% to 15% of advisors ask for referrals. What are the secrets to improving those percentages?

Warren "Bud" Wilson, John Kwiatkowski and Valerie D’Addona have formed the Greenbrier Wealth Management Group for Raymond James and established a practice in Raymond James & Associates’ Westlake Village branch.

Carson Wealth Management Group announced Monday it will become an independent RIA in July, but will further expand by added a broker-dealer arm later this year.

Acquisition of Talon Asset Management gives BNY Mellon Wealth Management access to third largest U.S. wealth market.

“In a broader context, we expect wealth management to be a faster growing piece of the total bank and if you look at segmentation, the ultra-high-net-worth space is the fastest growing segment in wealth management,” said Mark Jordahl, the president of U.S. Bank Wealth Management.

CIMA the first internationally accredited financial services certification in the United States

According to Spectrem Group, its Millionaire Investor Confidence Index fell nine points in April to minus-one, a neutral reading and the index’s lowest level since September. This marks the second-consecutive monthly decline for the index, following an identical nine-point decline in March.

Aided by a strong tailwind from market appreciation, Janus Capital Group reported an increase in profits in the first quarter as assets under management and revenue rose.

The Baltimore-based fund company reported a 27% increased in profits from a year earlier to $194.6 million, or 72 cents a share as net revenue rose 23% to $682.4 million.

The New York-based money manager saw profits rise 34% from a year earlier to $568 million, or $2.89 per share as assets under management increased 8.5% from a year earlier and 2.5% from the previous quarter to $3.648 trillion.

Concord offers technology and open architecture investment management solutions for trust groups of financial institutions. Based in Matawan, N.J., it has more than $10 billion in assets under administration.

The Financial Industry Regulatory Authority announced Tuesday it suspended indefinitely Pinnacle Partners Financial Corp., of San Antonio, Texas, and its president, Brian K. Alfaro, for failing to comply with a FINRA temporary cease and desist order “prohibiting their fraudulent misrepresentations.”

Jay Hooley, State Street’s top exec said: “We want to be sure our foundation is solid in terms of capital and risk management and make sure we have returned to basics in terms of our core asset servicing and asset management businesses, but also we want to be sure we are investing in enhancing our product capabilities. Our focus is really the whole package.”

Goldman Sachs easily beat earnings expectation despite a heft decline in profits in the first quarter.

Raymond James announced Monday that it hired Martin Gelb and Sonya Gelb Choeff. The father-daughter team joined the new Miami Beach branch of Raymond James.

Citigroup announced Monday its first quarter profits declined, but lending problems eased as the New York-based banking company continued to recover from the housing crisis.