More about InVest: As new digital tools transform wealth management, the industry’s largest players are rushing to adapt to ever-increasing customer expectations, while smaller firms strive to keep pace. Behind the scenes, many are investing more on technology and hiring to drive growth, but margins remain under pressure. In|Vest West is exploring all the dynamics at play — from front to back office — and the technologies that are shaping the future of the firm.
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Carlos Pareja is a vice president, capital planning, internal audit at
Morgan Stanley . He has in-depth experience in credit risk and credit analytics, project finance and environmental economic assessments. He has worked as a lending officer, risk manager and consultant at Big Four and financial institutions. Reach him atcpareja1@nyc.rr.com .January 16
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Kenneth Grant is a managing director at
Berkeley Research Group who provides advisory services, consulting and expert witness testimony, both domestic and international, for clients in the energy and infrastructure sectors. Reach him atKGrant@thinkbrg.com January 16
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The asset and wealth division helped drive the gains, posting its highest quarterly revenue in two years on a gain tied to the sale of a financial-management business. That helped counter fixed-income trading results and investment-banking fees that fell short of expectations.
January 16
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Retirement plan sponsors and their financial advisors receive guidance from the IRS on how the Secure 2.0 Act opened the door for "de minimis financial incentives."
January 16
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The Internal Revenue Service provided initial guidance to aid employers in establishing pension-linked emergency savings accounts, an outgrowth of the wide-ranging SECURE 2.0 Act of 2022.
January 15
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As a whole, the megabank saw its net income rise by 9% in 2023's final quarter. But its wealth management unit was another story.
January 12
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The firm's wealth management co-head said that recent changes to its pay grid have been favorably received.
January 12
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In a change that may affect financial advisors and tax professionals' clients, the agency reversed course on a position it took seven years earlier.
January 12
