Finance

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

The first three months of 2024 were hard on Wells Fargo — particularly for its wealth management division.

The banking giant nonetheless saw strong growth in net new assets in the first quarter and a 14% jump in returns from asset management fees.

Citigroup reported lower first quarter earnings within its wealth unit compared to a year ago. But earnings overall have improved from the fourth quarter, when it took significant losses as it finishes a major organizational restructuring.

Carson Group has snagged two powerhouse leaders in tech and wealth management on the heels of former CEO Ron Carson's departure and the naming of Burt White to the top role.

FP's annual ranking displays the impact of big one-time awards for four executives and a look at which chiefs netted the biggest increases and decreases in 2023.

The Fed has said it wants to see strong signs of falling inflation before it starts cutting interest rates. Wednesday's data was anything but that.

Authors add that the asset class can still be a welcome source of diversification for investors who can stomach the risk.

The budgeting app has already garnered support from NBA superstars and is looking for more growth.