Demographics

U.S. Bank, Bank of the West and Bremer Bank have introduced new initiatives that assign the mass-affluent not just an advisor but a banker too – despite intense price competition from robos.

"There's a plethora of [private equity firms] sniffing around, and I think all the big firms are being pursued," says Brent Brodeski, CEO of Savant Capital Management.

In a bid to attract more mass-affluent clients, the bank is calling on bankers and advisors to work in teams.

The giant asset management company said it was acquiring robo advisor FutureAdvisor.

People just want to spend their money. Show them how to do it better without making it feel like accounting. That's all consumers really want out of PFM, says the president of mobile banking service Moven.

Concerns about China and turmoil in Greece, along with growing speculation about the Federal Reserve were leading factors in the decline in investor confidence, according to a Spectrem Group report.

We're a long way from building strong, interpersonal relationships with computers (the movie "Her" notwithstanding), which gives banks an advantage.

Robo startups are expected to reach $452 billion in AUM in five years, but incumbent firms will possess over $1 trillion in assets in the digital automated advice space.

Betterment CEO Jon Stein says his firm is adding 1,000 accounts a week to the tune of about 94,000 with a total of $2.3 billion AUM. Over 30% of assets come from clients age 50 and up, he adds.

Wealthfront CEO Adam Nash says “Silicon Valley optimism” will help reimagine and redefine financial services.

SEC Commissioner Kara Stein is worried that mutual fund sector is moving beyond the reach of the regulators.

Fidelity's custody unit is backing a deal in which a Mariner Holdings unit will pay 35 basis points for referrals of mass affluent customers.

At the urging of management, advisors and bankers now hold joint annual review meetings with customers in a coordinated quest to secure more of their business.

The additional revenue from President Obama's expected proposed tax increase would be used to fund programs to assist the middle-class; Plus, how to help a client who missed employer's matching 401(k) funds.

Older middle-class Americans in their 50s are more likely to lack confidence in their retirement preparedness, with almost half fearing they haven't saved enough.

Global private wealth will grow 40% to $369 trillion by 2019, with more than one quarter of the growth coming from emerging markets, according to Credit Suisse Group AG.

Only about 20% of the mass affluent market have a financial advisor, notes FutureAdvisor CEO Bo Lu, compared with around 60% of individuals with more than $1 million in investable assets.

Mass-affluent investors are a confused group, so advisors need to set clear expectations about the markets, as well as the help they can provide.

Many parents are not saving enough for their children thanks to their own unpaid student loan debts, according to new study from the CFP Board.

Many U.S. households are not adequately prepared for retirement, according to a new report from the Federal Reserve that found 31% of non-retired respondents indicating they have no retirement savings or pension, including 19% of those ages 55 to 64.