JPMorgan Chase

Observing the day is one way wealth management firms are trying to respond to civil unrest.

The death of George Floyd in Minneapolis and other fatal police encounters now fueling protests nationwide have prompted executives from almost every major bank and investment firm to speak out.

The changes follow new leadership of the bank’s recently unified wealth management operations.

The policy shift involves a modest number of advisors in Texas as wealth managers also gear up for office reopenings.

Wells Fargo will temporarily stop accepting applications for home equity lines of credit, following a similar move by rival JPMorgan Chase.

About 5,500 large customers of the commercial banking business applied for funding. Nearly all of them got loans.

The nation's largest bank is temporarily reducing its exposure to the mortgage market amid rising unemployment and estimates that home prices could drop by 10%.

Phil Sieg, who has 35 years of industry experience, will help the bank’s advisors grow their practices.

Vanguard reclaimed its top spot in J.D. Power’s annual ranking of self-directed investor satisfaction. Charles Schwab retained its position as a leader among DIY investors.

Though hopeful for a second-half bounceback in the economy, JPMorgan Chase is prepared for 20% unemployment, lackluster GDP and losses in its loan portfolio that could reach tens of billions of dollars.

The damage hints at what’s to come when the rest of Wall Street reports results this week.

If the price declines enough, it can breach a barrier where the investor starts suffering one-for-one losses all the way to zero.

Firms are trying to maintain enough on-site staffing to ensure swift trading. Some workers feel they have to choose between keeping their jobs and risking their lives.

The coronavirus pandemic will lead to a major economic downturn and stress mirroring the meltdown that nearly brought down the U.S. financial system in 2008, JPMorgan's CEO said.

Stipulated agreements by BDs and advisors looking to fast-track the arbitration process are becoming increasingly common.

Bank tellers, call-center employees and support staff are part of the roughly 70% of American workers who don’t have the ability to work from home.

The company's bank tellers, call-center workers and support staff are part of the roughly 70% of American workers who don’t have the ability to work from home.

The affected system is typically used to process algorithmic trades from hedge funds and decides how and when to send trade requests to different venues.

The change means legions in New York, New Jersey and Connecticut who had been scheduled to rotate among sites will instead stay away from those offices until further notice.

The outage hit the group’s Morcom electronic trading platform, which employees use to place orders on behalf of wealthy clients.