Portfolio

Pershing reported higher revenue in Q1 after a rough last year when clients fled due to First Republic's failure. Parent BNY Mellon's CEO Robin Vince said he feels 'very good' about Pershing.

The Bank of America wealth management subsidiary joins Morgan Stanley and Wells Fargo in no longer divulging how many financial planners it has on the payroll.

Morgan Stanley CEO Ted Pick downplayed the importance of government investigations into potential money laundering issues involving wealth management clients. "We've been focused on our client on-boarding and monitoring processes for a good while," he said.

The firm's wealth management business saw strong new assets inflows in the first quarter, particularly from its business catering to family offices.

Cash may feel safe on a visceral level, but it is not a risk-free asset in terms of preserving real value on a long-term portfolio.

The departure comes amid continued turn at the head of the bank's wealth management ranks.

Forty-five percent of wealth managers say a disputed presidential election would hurt their business, according to a new Arizent survey.

Citizens Financial said long-time Morgan Stanley leader Paul Casey will spearhead its wealth, private banking units as part of a larger expansion in advisory services.

Some financial advisors and tax professionals with high net worth clients could find big advantages before the expiration of provisions of the Tax Cuts and Jobs Act.

Executives say the results show the wisdom of the firm's deliberate decision to focus on high net worth clients.