Goldman's stock traders posted their highest quarterly revenue haul on record, riding a wave of volatility triggered by an emerging global trade war, but revenue from the asset and wealth management business fell short of analyst expectations.

The company "started off the year with a meaningful renewal from Cambridge Investment Research," BNY's chief financial officer notes.

Like its rival Morgan Stanley, Wells Fargo saw a healthy increase in its AUM and wealth revenues before Trump's tariff policies sent investments reeling.

Executives at the Wall Street giant expressed optimism that clients will turn to it more for advice amid economic uncertainty.

Modern Wealth also takes on $1B in AUM through two acquisitions, and LPL hires a chief data, AI officer from JPMorgan.

Goldman Sachs, Bank of America, Wells Fargo and Truist are facing pressure from ISS, Glass Lewis and SOC Investment Group over their 2024 pay packages.

The deal, expected to close in the second half of the year, will bring in $16 billion in client assets and 110 advisors.

Meanwhile, former Charles Schwab CEO Walt Bettinger saw a 10% compensation increase for his final year on the job.

The JPMorgan Chase CEO voiced concerns about President Trump's tariffs, warning of potential economic instability, inflation and damage to international alliances.

Also this week, Raymond James recruits from Morgan Stanley, and Mercer Advisors and EP Wealth Advisors make big M&A deals.