The Wall Street powerhouse has built its wealth division in large part through big deals but is not "looking to make acquisitions just for the sake of it, " said CEO Ted Pick.

But the Bank of America subsidiaries nonetheless reported rises in AUM and net revenue in the second quarter while adding thousands of new client relationships.

In an earnings call Tuesday, CEO Charlie Scharf credited brokers in the firm's branches for working with consumer bankers for a 10% increase in new assets.

Citi's wealth division was a relative bright spot in the bank's second quarter earnings report, with revenue up amid turbulent market conditions.

Negative net new assets came back to the giant clearing and custody firm in the second quarter, although they weren't as large as in the same period of 2024.

Even without net new assets, the firm's assets under management and administration were pushed upward by market gains.

In an earnings call, LPL's CEO said his efforts to woo Commonwealth advisors have extended to a "rain-soaked" bike ride and wine-tasting tour.

UBS' Americas unit benefited from a swift uptick in client transactions in April, but that activity has since subsided, CEO Sergio Ermotti told analysts.

CEO Ron Kruszewski received praise for leading the firm's wealth management unit to a record for revenue, despite costly legal setbacks.

Jim Cracchiolo told analysts that the firm's retention "is quite good," even though his company, like many of its rivals, stopped providing statistics to verify such claims.