Corporate finance

In what may be the firm's last earnings call before being acquired by private equity firm Clayton, Dubilier & Rice, CEO Rudy Adolf praised Focus' RIA partners.

The California TAMP's new producing advisors are hitting levels not seen since early 2022.

The downgrade shows rising concern about CI's debt, much of it incurred to pay for acquisitions of U.S. registered investment advisory firms.

The banking giant's asset and wealth management arm boasts more than $4.3 trillion of client assets.

The support firm for RIAs sees opportunities to position itself between buyers and sellers of firms.

BMO's acquisition of Bank of the West is delivering the firm its seventh recruiting or M&A move of at least $1 billion in 2023.

Despite a nearly flat advisor headcount, interest income and fees lifted the regional brokerage's results, and the wealth business still added $21.5 billion of net new assets.

Despite an earnings miss, the regional wealth firm said it was well-positioned to grow and retain customer cash, and made a pitch for advisors at less stable firms to hop aboard.

The firm also sees additional recruiting opportunities at banks and other financial institutions after attracting Comerica Bank's wealth program last month.

The bank said the advisors and associates who left had managed under 20% of wealth management assets, as of the end of the first quarter.

The San Francisco bank, on shaky ground after two regional peers failed last month, said that customers pulled more than 40% of their deposits last quarter. It's been forced to turn to more expensive sources of funding, which analysts said will squeeze its profitability.

The outflows and expected losses this year at key businesses such as wealth and investment banking highlight the risks for UBS of its planned integration over the next four years.

More than $12.6 billion flows into equity exchange-traded funds in April, the most since January.

The giant custodian's parent company, BNY Mellon, is working on how best to help it work together with its other businesses, CEO Robin Vince said.

Wealth management lifted the firm's bottom line, as the unit's revenues rose 11% over the past year and it hauled in assets across multiple channels.

In first appearance before GOP-controlled Financial Services Committee, SEC Chair brushes off criticism over regulation of digital assets.

Although the bank's wealth businesses logged strong organic growth for the quarter, revenue fell and hiring languished after two strong quarters of headcount gains under then-president Andy Sieg's leadership.

CEO David Solomon sees potential for business in the wake of a merger involving two of its rivals for business among the ultrawealthy, he told analysts.

The giant financial institution's performance during the first three months of 2023 is being closely watched by the wealth management industry.

The firm followed rival wirehouses that no longer share their exact number of brokers, which is a critical metric for industry recruiting trends.