Banking

From hedge funds to wealth managers, Wall Street has embraced artificial intelligence in search of an investing edge. Researchers are now asking what happens when more investors turn to similar AI models to find one: buying the same stocks, reacting to the same headlines, and sometimes making the same mistakes.

High-earning millennials and Gen-Zers now have two clearcut ways to pay down student debt — but with clarity comes a smaller margin of error.

There's a safe harbor for gift tax reporting, but the American Institute of CPAs recommends families educate themselves as the accounts go live July 4.

The North Carolina-based regional has recruited Michael Lyons to serve as CEO, starting Sept. 1. Lyons will replace Bill Rogers, who plans to retire in April 2027.

The One Big Beautiful Bill Act left depreciation recapture rules unchanged for income-producing properties, complicating the tax situation for real estate investors.

FIS regularly hears from RIAs and banks with wealth management departments about the need to have better mobile apps and other digital doorways to their services. A new partnership with InvestCloud is designed to provide just that.

At their institutional investor day, Charles Schwab executives say they see a huge opportunity in arranging securities-backed loans for firms in its RIA network.

The first U.S. bank to offer an exchange-traded product tied to bitcoin saw $34 million in trading on the first day.

The Minneapolis-based company plans to leverage the arrangement to draw more attention to its growing list of national business lines, transcending its regional reputation.

The bank is pushing wealth managers to use artificial intelligence embedded in Salesforce and Zoom to plan, summarize and follow up on client meetings.

Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.

Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.

Following similar glitches at Lloyds and the London Metal Exchange, a tech outage at UBS has renewed scrutiny on modern banking platforms.

Nasdaq announced its partnership with the crypto exchange as part of an initiative for 24/7 trading that is pending regulatory approval from the SEC.

The financial advisory firm initially sought an industrial loan charter back in 2020. It's the third company to receive the necessary approvals this year, joining General Motors and Ford.

The nation's largest bank said Monday that it will continue to invest in artificial intelligence, despite fears that the technology may harm lenders, and in private credit, despite concerns of cracks in asset quality.

The platforms, where bets are placed on everything from U.K. soccer teams to the price of bitcoin, are getting traction from investors and attention from regulators.

The tax shield on student loan forgiveness has expired. Here is how advisors can help clients lower their burdens.

Morningstar's study of this growing area of asset management suggests that 529 plan quality is rising, despite the research firm's lackluster grades for it.

The release coincides with a $6.25 billion donation from Michael Dell and his wife to kickstart the savings program.