Banking

Noah Kerner, CEO, Acorns and Suleman Din, Technology Editor, Financial Planning

Acorns, the mobile microinvesting company, wants to be known for helping customers manage saving and spending — and that's it, CEO Noah Kerner says.

The firm’s equity-trading business head Ted Pick, promoted to lead its division of investment bankers and traders, is one possible successor.

They want help with their money — and they don’t mind their own data being analyzed, JPMorgan’s Kelli Keough said at the In|Vest conference.

The firm has recruited 71 advisors so this year and opened branches in four states, according to a spokeswoman.

The app also allows clients to use the Zelle person-to-person payments service.

In an investor-backed power play, the tech startup wants wirehouses and banks to turn to it instead of traditional software providers as they make upgrades.

The Minneapolis bank is pitching the automated investment advice platform, a joint venture with a BlackRock unit, to a wide range of age groups, not just younger consumers.

The firm scaled back its investment bank after the financial crisis to reduce risk and focus on its large wealth-management business.

Banks and wirehouses have a head start on data, while RIAs face challenges, according to a new report.