Finance

Aiming to funnel more millionaires into its services, Morgan Stanley is launching a private equity fund for its widest audience yet.

Critics have called for an overhaul of the confusing rules that they argue often leave investors paying taxes in the wake of falling into fraudsters' traps.

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.

CEO Paul Shoukry also told analysts that the merger and acquisition deals coursing through the industry could open doors for firms eager to bring in advisors and net new assets.

Record revenue wasn't enough to offset costly legal charges that the firm racked up in the first quarter.

Executives at Merrill's parent firm, Bank of America, told analysts in a call that nearly two-thirds of their wealth management clients now have banking relationships with the firm.

Goldman Sachs CEO David Solomon joined JPMorgan's Jamie Dimon in a tie atop the executive compensation rankings for the industry's largest publicly traded firms.

Citi's wealth division saw a nearly five-fold increase in new investment assets in the first quarter. CEO Jane Fraser said the firm has "real horsepower and firepower in our investment capabilities."

Goldman's stock traders posted their highest quarterly revenue haul on record, riding a wave of volatility triggered by an emerging global trade war, but revenue from the asset and wealth management business fell short of analyst expectations.

The company "started off the year with a meaningful renewal from Cambridge Investment Research," BNY's chief financial officer notes.

Like its rival Morgan Stanley, Wells Fargo saw a healthy increase in its AUM and wealth revenues before Trump's tariff policies sent investments reeling.

Executives at the Wall Street giant expressed optimism that clients will turn to it more for advice amid economic uncertainty.

As the head of the investment solutions group at Merrill and Bank of America Private Bank, Nancy Fahmy ensures the firm's advisors have access to investments they recommend to investors.

Meanwhile, former Charles Schwab CEO Walt Bettinger saw a 10% compensation increase for his final year on the job.

As Donald Trump's policies rattle the economy, partisan identities are driving investors toward very different outlooks on the stock market.

Experts say financial advisors can play a critical role for clients who are in the throes of addiction and those sifting their way through the often-challenging recovery process.

A partnership between Citigroup and Silverfern to serve exclusive private equity deals to ultrarich clients collapsed after years of tension and litigation.

Financial advisors are counseling clients to stick to their long-term plans, even as they consider potential hedging opportunities and other strategies.

Rather than a book on his investing philosophy, the longtime advisor offers the lessons that have made him "less stupid" over the years.