Finance

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.

The New York megabank is working to deploy artificial intelligence as it seeks to make its own operations more efficient. Solomon also sees an "unprecedented" opportunity in financing clients' needs as they invest in AI.

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.

The central bank is holding fast to its plan for three rate cuts, even as inflation remains stubborn. But is a soft landing still likely?

Some wealth managers see themselves as playing a distinct role in helping investors navigate the treacherous waters of private equity, credit and real estate.

The Wall Street giant is looking to fix its place in what's project to be a $10 trillion market by 2030.

Alison Nest says wealth managers can play a particularly useful role in helping investors navigate the intricacies of private equity, private credit and similar investments.

Industry recruiters still wonder if the regional firm's new recruits bring the experience needed to replace the experienced teams that have been leaving.