Bank channel

FINRA moved to banish the broker for failing to cooperate with an investigation into allegations that he borrowed thousands of dollars from a 70-year-old customer without Wells Fargo's prior approval.

The Short Hills, N.J., bank chose Invest Financial for its home office resources, scale and technology.

Julian Cruz, an advisor at IBC Bank in McAllen, Texas, along the Rio Grande River, goes south of the border for the majority of his business.

Nobody thought it would be pretty, but last quarter's results were even worse than expected, and low fee revenue is largely to blame. Trading and mortgage banking were particularly bad, and few of the big banks managed to offset the declines.

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In the wake of the exec's departure, the bank has implemented a new field structure that aims to bring the banking and investment services businesses together.

The rep was expelled for failing to cooperate with a FINRA investigation into allegations that she misappropriated funds from a retail bank customer's account.

The widespread adoption of online and mobile banking has largely happened at a time when rates have been near zero. At some point, rates will rise and the value of the experience will be pitted against the value of a yield for depositors.

The wirehouse is sending executives to Credit Suisse offices to deliver the firm's pitch, and will fly advisors out to its headquarters in St. Louis next week.

Banks are working quietly behind the scenes to determine whether they should take the exemption that will allow them to charge commissions on retirement business.

FINRA slammed the firms for failing to apply sales charge discounts to customers' purchases of unit investment trusts. Seven of the 12 were bank broker-dealers or TPM firms.

SunTrust's chief risk officer will lead the Consumer Banking and Private Wealth Management business.

Third-quarter revenue from trust and investment management services declined 8% year-over-year to $87 million. Meanwhile, retail brokerage revenue inched up 1% to $77 million.

The bank generated $464 million in revenue from wealth management, up 3.3% year-over-year. Profits, however, were flat.

J.P. Morgan Private Bank and J.P. Morgan Securities generated $1.4 billion in revenue, down 2% year-over-year. The bank's mass-affluent offering, however, increased revenue and number of clients.

The rep was ejected for failing to cooperate with a FINRA investigation into allegations that she stole money from a retail bank customer.

The bank channel, long regarded as a minor league to the glitzier and higher-paying wirehouses and RIAs, is on the verge of taking a major-league step ahead.

In a Q&A, Hari Gopalkrishnan, who oversees mobile banking for Bank of America's consumer and wealth management operations, discusses the mobile trends of the past year, including the difference between what its technology is capable of doing and what consumers are willing to adopt.

The bank's wealth management group is gearing up for more business in Nevada now that it has the ability to deliver trust services in the state.

Louis Papa maintains round-the-clock, uninterrupted communication with all of his clients, which is possible because he only serves around 60.