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Lower revenue from asset and wealth management hurts Goldman earnings
The losses, which led to the bank's largest earnings miss in a decade, reflected a major slide in revenue from equity investments, Goldman said.
Wealth management shines at Morgan Stanley
The firm posted record net revenue in wealth management last year, in contrast to investment banking, where it saw a 49% decline in revenue during the fourth quarter.
Retirees skipping meals to stretch plummeting savings, survey says
The combination of rising prices and a falling stock market have worsened the retirement crisis, with 37% of retirees surveyed saying they have no savings at all.
Commonwealth recruits $1 billion team from Edward Jones
Temple, Texas-based Cedarwood Financial Partners specializes in retirement planning services.
First Shair Foundation grant winner envisions practice with multigenerational reach
With an assist from the Lucy Shair Foundation, Valerie Rivera aims to serve clients who are the first in their families to rise to the professional class.
Nominations for DEI awards are now open!
The sixth annual recognition program aims to tell the stories of individuals and firms that implement and advocate for diversity and inclusion within the financial advisory industry.
BNY Mellon to cut about 3% of staff
The bank says costs will be a top priority this year; it also says it's still committed to its digital assets strategy despite the turmoil in crypto markets.
Fierce opponent of DOL fiduciary rule and defender of Reg BI to chair House subcommittee
Rep. Ann Wagner, R-Mo., will lead the House Financial Service Subcommittee on Capital Markets, which oversees the SEC and works on policies related to investor protection and capital formation.
Fintech Bytes: Riskalyze lands AE Wealth; 55ip partners with Frontier; Advisor360 acquires wealthtech
Plus Brad Weber gets Savvy, iCapital adds 100 to its tech team, and Richr launches an advisory service.
Wells Fargo Advisors ended 2022 with stable advisor head count
Advisors at Wells Fargo have been under a cloud since 2016, when the bank's fake-account scandal erupted.
BlackRock invests in Human Interest to expand 401(k) business
The asset manager will make a minority investment in Human Interest, as well as leading a financing round to support the next phase of the company’s growth.
Fidelity tracks M&A trend of more deals involving smaller RIAs
A new report on 2022 dealmaking shows a growing number of acquisitions of firms with less than $500 million under management.
Merrill still hanging ‘Help Wanted’ sign for advisors in 2023
The wealth management franchise at Bank of America continued to perform well in 2022 despite the stock market sell-off.
Court orders Sugarman to pay $10.2 million for role in defrauding Native American tribe
Sugarman and his partner, Jason Galanis, used the proceeds from the sale of tribal bonds to acquire foreign insurance companies.
Fed policy puts bonds on front burner as advisors see myriad ways to capture yield
Coming off a horrific year for bonds, the table has been set for both simple and creative fixed-income opportunities.
Goldman’s Joe Duran reveals roots of money life on Goop
In an episode of the lifestyle podcast, the head of Goldman Sachs Personal Financial Management listed some tenets of financial advice he's used in his career and talked about ways his life has informed his work with money.
Plan sponsors, advisors concerned about the economy, study shows
But the two groups are almost evenly split on the outlook for inflation in the coming year, according to a study by Ubiquity.
Team managing $300 million at Securities America joins LPL
Vancouver, Washington-based advisors Eric Fenton and Rodney Wangler founded their firm in 2001.
Move past fintech buzzwords toward a proactive wealth management future
The industry absolutely loves these terms, but jargon obfuscates, intentionally or not, what the product actually does.
Captrust expands Nashville footprint with $2.3 billion deal
TrustCore marks Captrust's second acquisition in Nashville and the firm's 63rd deal since 2006.
