Bank channel

The United States is set to undergo a "geographic sea change" where economic power is shifting from longtime coastal stronghold states still reeling from the housing bust and moving towards interior states with lower tax burdens, according to banking analyst Meredith Whitney.

SunTrust is expected to announce Tuesday that it plans to put financial counselors in its branches as part of a pilot program with Operation HOPE, a nonprofit that works to provide financial literacy training to low-income families.

Taking the 80/20 rule-of-thumb to its logical conclusion, Robert Vingi and Howard Edwards at Wells Fargo are removing less lucrative clients from their business.

"This is all about stealing share now. It's not about telling people to bring money from your mattress," says Wayne Cutler, who runs the wealth management practice at Novantas.

Last year M&T generated $546 million in wealth management income, nearly three times the $187 million it produced prior to the acquisition of Wilmington Trust in 2011.

"A lot of potential clients are already banking [with Umpqua]. For us, the first priority is to make sure we let them know that we're there," Seattle market leader Elise Fortin said in a telephone interview.

Amid intense competition for high-net-worth clients, U.S. Bank's Private Client Reserve unit is ramping up its marketing efforts to differentiate itself from its rivals.

Two separate themes weave their way though our pages this month. The first is how to stay the course and improve your practice through stronger business relationships. The second is when to throw in the towel.

The broker-dealers that make up the backbone of the bank channel, inexplicably dubbed third-party marketers, expect sunny skies and room to grow. The one common challenge that most will fess up to: They can't find enough good advisors.

The best bank managers and best wirehouse managers have a lot in common. While each has the distinct flavor of their respective channels, they are very similar in spirit.

Alternative mutual funds are making their way into the market via mutual fund firms, hedge funds, private equity shops and now banks.

The T. Rowe Price Group has agreed to sell its banking unit to the investor Jacob Safra.

The new hires are part of the firm’s aggressive two-year recruiting campaign to increase the sales force by 50% by the end of 2014.

MetLife Inc., the largest U.S. life insurer, cut its advisor force by a third, eliminating 2,500 jobs as the company scales back variable annuity sales and turns to other nations for growth.

The long-held notion that community banks, by definition, provide exceptional customer service is getting debunked.

Small-business owners are generally satisfied with their access to funding and about one in five plans to apply for a loan in 2013, according to a new survey from Bank of America (BAC).

The U.S. crackdown on Liberty Reserve is stoking fears that the government may effectively cut off digital currencies like Bitcoin as banks sever ties with businesses in this growing field.

Residential and commercial real estate are finally enjoying a solid recovery. Housing prices are rebounding nationwide, and residential construction was a leading contributor to overall U.S. growth last year. The market for multi-family apartment buildings is on fire, and money is also pouring into office buildings and retail space. But national numbers only tell part of the story.

JPMorgan Chase & Co. hired Travis Machen from Morgan Stanley to run corporate banking for hedge funds, money managers and other mid-sized financial firms.

It's hard to believe but true: more than 700 banks maintained a pristine Camels 1 rating throughout the six-year period bracketing the financial crisis. New Fed research shows why.