Corporate finance

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.

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.

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

Canada's largest bank saw record increases in client assets and a healthy jump in its fee-based revenue. So why did its wealth profits drop 27%?

The Swiss firm reports strong asset inflows for the year but still struggles with low profit margins in the U.S.

Net income topped $1 billion in 2023 as the firm reached another record headcount and CEO Dan Arnold said there are "interesting questions" to answer about AI.

The firm credits its ability to recruit highly productive advisory teams for its strong fourth-quarter balance sheet.

The roughly 100 incoming financial advisors to the firm's Financial Institutions Group softened the impact of a regulatory charge of $30 million.

The St. Louis-based firm's earnings fell by 8.4% in last year's fourth quarter. But its wealth management business could not be stifled.

Industry recruiters see the changes as intended to make client assets and advisory teams "stickier" and to retain executive talent.

The firm's net income, client assets and advisor headcount all grew last year, according to a new SEC filing. But experts see trouble under the surface.

The megabank's Personal Financial Management transaction helped drive some record metrics in 2023 for its wealth and fund segment.

A turbulent 2023 led to fourth-quarter declines in net new assets, net income and banking deposits at the financial firm.

How the big firms compare with each other in their advisor headcounts, assets under management and other attributes.

The firm's wealth and investment unit contributed more than half of the Wall Street giant's profits and revenues for 2023.