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After a mixed quarter for the firm's wealth unit, CEO Ron Kruszewski predicted that the Fed may cut rates zero or just once or even hike them in 2024.
April 24
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The number of experienced financial advisor recruits fell in the first quarter, but Ameriprise's overall headcount and its profits are on the rise.
April 23
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During first-quarter earnings calls, top executives of mega firms like Goldman Sachs, Morgan Stanley and Citigroup talked about how they're testing AI and high-tech tools.
April 18
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The Providence, Rhode Island, company is having discussions with private wealth management teams elsewhere as it seeks to expand its fledgling private bank. In just three months, private banking deposits doubled to $2.4 billion.
April 17
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Pershing reported higher revenue in Q1 after a rough last year when clients fled due to First Republic's failure. Parent BNY Mellon's CEO Robin Vince said he feels 'very good' about Pershing.
April 16
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The Bank of America wealth management subsidiary joins Morgan Stanley and Wells Fargo in no longer divulging how many financial planners it has on the payroll.
April 16
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Morgan Stanley CEO Ted Pick downplayed the importance of government investigations into potential money laundering issues involving wealth management clients. "We've been focused on our client on-boarding and monitoring processes for a good while," he said.
April 16
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The firm's wealth management business saw strong new assets inflows in the first quarter, particularly from its business catering to family offices.
April 16
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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.
April 15
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Executives say the results show the wisdom of the firm's deliberate decision to focus on high net worth clients.
April 15
