Wealth management

On the wealth management side, Morgan Stanley posted $4.41 billion of revenue, which was 2% higher than last year and blew away analysts’ estimates for a 9% decline.

While some firms have been successful at leveraging technology to scale sales and marketing processes, others have failed.

Wealth Enhancement Group has also grown organically by more than $1 billion each of the past two years.

James Gorman dismissed any speculation after the unit posted record revenue and pretax profit in the second quarter.

Dynasty CEO Shirl Penney sees it as an option down the road.

A search for returns in less liquid assets may blur the transparency of real portfolio value.

Smaller RIAs want to follow Schwab’s lead. Will the model boost diversity and attract younger clients?

Aaron Schaben and Teri Shepherd are named co-presidents of the wealth firm.

Despite an environment of, “Hey, go figure it out,” there are ways advisors can properly prepare clients, In|Vest attendees are told.

The beleaguered bank has suffered from attrition since a fake accounts scandal rocked the firm in 2016.

Clients “want to participate, they want to co-create,” In|Vest conference attendees are told.

The SEC’s 564-page rule shows the new disclosure could prove time-consuming, even vexing, for firms.

The decision marks a shift for firm, which has largely ridden its equity-fund offerings.

The highest priorities are “ease of use” and speed, E-Trade’s CEO tells attendees at the In|Vest conference.

The group cited "confusion" among certified planners sparked by passage of the SEC's less-strict Regulation Best Interest.

With 7 million accounts and more than $400 billion in assets, Karl Roessner’s firm can be selective as it expands into wealth management.

Lower costs are “pushing down what has been the economic model of our industry,” the Schwab EVP says at the In|Vest conference.

The advice industry’s current structure is “dumb” and in need of fixing, according to Betterment CEO Jon Stein.

The transition is expected to take place within the next 12 to 18 months, however the firm says it will still manage the products’ underlying investments.

Overall donations to charity organizations fell by 1.7%, while total individual giving decreased by 1.1%, the first drop since 2013.