Dustin Hellams' job as a credit union advisor on an Air Force base gives him a full gamut of clientsfrom 19-year-old "kids" away from home for the first time to retirees.
The Swiss banks exit comes after a more than month-long review and as local firms expand in wealth management in a bid to tap the nations pension savers and rich investors.
The former leader of BISA's research arm and an ex-Comerica Bank wealth executive aim to help banks and credit unions compete more aggressively with wirehouses and independent firms.
Now that two of the biggest U.S. banks are convicted felons, the Justice Department appears to have proven the point it set out to make a year ago -- that it could deliver the harshest penalty possible against financial institutions without inflicting fatal wounds.
The acquisition will give Infinex increased scale as third-party broker-dealers struggle to offset rising regulatory and tech costs.
Three bank breakaways join two former colleagues who started the independent firm Standard Investment Advisors last year.
Abid Gilani, a Wells Fargo senior vice president, was one of the victims in the derailment of an Amtrak train outside of Philadelphia on Tuesday.
Bryan Carnahan, a former advisor at Huntington Bank, allegedly stole nearly $170,000 from a customer's brokerage account to cover investment losses in other customers' accounts.
Wells Fargo and other banks are testing the use of mobile devices to authenticate consumers in the drive-through lane. The pilot, designed to expedite service and improve security, serves as the latest example of a growing trend: preordering banking services via digital devices.
The SEC and other regulators are seeking information about the bank's use of proprietary products in its wealth management business, the company disclosed in a regulatory filing.
Wells Fargo was sued by Los Angeles for allegedly opening accounts and issuing credit cards without customers authorization as part of what the city called a fee-generating machine.
Richard Ohrn, a former broker with Chase and Wells Fargo in Boca Raton, Fla., was banned last week, 12 days after staging his disappearance at sea.
As more community banks switch to a universal banker model, they are also finding that it can take a year -- or more -- to properly train those employees.
The financial industry and the White House are gearing up for a fresh battle this spring over investment advice for retirement savings.
Banks' customer-satisfaction ratings are at a 10-year high, according to a new study by J.D. Power. The research firm identified the top-rated banks in each region, and found that the postmillennial generation has a thing for the megabanks.
Consider every encounter at work and in your community an opportunity to create a positive reputation for your business.
One factor prodding firms into quick adoption of Apple Watch apps is the fear of missing out on the latest technology.
The firm has named Rebecca Gumley director of new business development with the firm's financial institution recruiting team.
Truly effective managers help propel their advisors to higher levels of successheres how.
David Paul Santos, a broker with Pioneer Bank in Troy, N.Y., was tricked by a hacker into wiring funds he shouldn't haveand ended up paying the price.
Digital upstarts are out to steal traditional banks' customers by taking the hassle out of everything from account opening to borrowing. Its tough to compete with banks' resources and brand recognition, but these new mobile competitors are adamant that they can win on customer experience.
The settlement brings the total global fines for the scandal to about $9 billion, paid by a dozen firms. UBS paid $1.5 billion in 2012.
The wirehouse picked up the Blaustein Clancy Financial Group in New York.
Seven years after declaring a truce in a battle with large banks over tracking their insured deposits, the FDIC reopened the fight Tuesday with a new proposal that would take an even tougher stance.
Switzerland's second biggest bank beat analysts' estimates, posting a pre-tax profit of 636 million francs, about $666 million, in the first quarter.
Former Federal Reserve Board Chairman Paul Volcker proposed a massive shake-up of the U.S. financial regulatory system on Monday that would consolidate oversight into three super regulators.
Revenue from wealth and investment services dropped for the fifth consecutive quarter, swooning 10.7% to $7.9 million from $8.8 million a year ago.
First-quarter results from U.S. Bancorp and PNC Financial Services Group show banks have little choice but to wait until the Fed raises interest rates. They have cut expenses almost as far as they can go, and fee income is limited in how much it can offset narrower spread income.
But net income drops at Merrill Lynch and U.S. Trust, according to first quarter earnings.
While many banks prefer to be fast followers, RBC has a patent pending on mobile wallet technology. The goal is to secure a prominent place in customers' mobile wallets before it gets harder to do so.
When Apple releases its smartwatch next week, there will be apps available from at least five banks and four of them are community banks.
J.P. Morgan Private Bank and J.P. Morgan Securities generated $1.47 billion in first-quarter revenue, up 7% year-over-year.
Richard Ohrn, a former Chase and Wells Fargo broker accused of stealing money from customers, was discovered Sunday after staging his disappearance.
President Obama's nomination of a former community banker to fill one of two vacant seats on the Federal Reserve Board is in danger of withering on the vine as a number of concerns conspire to significantly slow the process.
Mounting yet another defense of JPMorgan Chase's size and scope, Chairman and CEO Jamie Dimon pointed out the fallibility of smaller banks in his annual letter to shareholders.
As it launches instant payments using Dwolla, BBVA Compass joins a growing list of banks that are seeking "internal disruption" by giving innovative tech companies access to their inner workings.
"Insurance and risk management services are an important aspect of our strategic plan to broaden the scope of services that we offer to our wealth, business and consumer clients," said Frank Leto, Bryn Mawr's president and CEO.
HMN Financial in Rochester, Minn., has agreed to buy certain assets and liabilities of Kasson State Bank.
Just months after the Supreme Court appeared to end the legal fight over swipe-fee rules, a new battle is brewing over the interplay between mobile payments like Apple Pay and the Durbin amendment.
John Horner will succeed Craig Delany, who announced his retirement last month.
The two advisors were banished from the industry late last month for allegedly stealing money from customers, joining nine others who have been barred by FINRA so far this year.
As growth in the region creates more millionaires, Citigroup is targeting a 10% increase in its Asian wealth assets under management this year.
The SEC furthered its investigation into whether senior asset-management executives at JPMorgan Chase developed a policy of improperly steering clients into investments for the firms own financial gain.
What makes a big producer as opposed to a small one? Why do some advisors grow quickly while others barely get by? Learn what's really behind success in this industry.
Alternative financial service providers that sell prepaid cards, bill pay, check cashing and other services to underbanked consumers are becoming more sophisticated with the ways they mine customer data.
Google's attempt to capture the "stickiest" part of many online banking relationships could eventually help put it at the financial center of the consumer's life.
Apple Pay, Samsung Pay and Google Wallet are among the mobile payment services vying for dominance. Here's what every banker needs to know to get a game plan in place.
The bank channel has improved its image as a career choice for advisors by offering a wider array of investments and easy referrals.
Facing a talent shortage, banks need young advisors more than ever and they're finding them before they even graduate college.
Banks are gravitating toward a new technology they think can help customers more easily open mobile accounts: allowing photographs from smartphones to help customers auto-fill portions of their application.
The trustees of the family claimed that the family matriarch received bad advice from the broker at the firm.
Claire Cockerton of U.K. trade group Innovate Finance explains how technology can rehabilitate the global banking industry's reputation and how London became a financial technology hub.
Former RBC Capital Markets managing director Mel Schonhorst achieved a measure of success after seven years trying to clear his name in a Texas investigation that cost him his job though he was never accused of anything.
The usefulness of in-store branches is a hotly debated topic in the banking industry. But some institutions are successfully landing customers -- and increasingly valuable deposits -- through such locations.
The $2.7 billion-asset Peapack-Gladstone in New Jersey said it will incorporate the firm into its private wealth management business.
Nicholas Kramer, an ex-Wells Fargo advisor, and Louis James Deeley, a former J.P. Morgan registered rep, were kicked out of the industry for alleged financial wrongdoing.
Alongside the requisite ATMs and tablet-bearing salespeople, a New York credit union has installed touchscreens where customers can visualize a path to realizing their financial goals. Wells Fargo is taking a similar approach to credit education online.
For several years regional banks have been furiously trying to boost fee income by beefing up in wealth management. But the cost of acquiring talent has made it hard for them to gain traction in this all-but saturated market.
Westamerica Bancorp. probably expected little trouble when it asked for regulatory permission to close a small branch in northern California. Wrong! Welcome to the world of online petitions and social media.
An ex Wells Fargo rep allegedly improperly obtained almost $100,000 from a bank trust account, while a former First Brokerage America broker forged a notary's seal and signature on customer documents.
While managed account programs are projected to grow significantly, many advisors are not confident in their platform's ability to meet their needs due to the difficulty in integrating data firmwide.
The new service will go beyond just job openings--it also will show how many advisors work in a certain area so applicants can hone their searches.
The finance industry faces a steep, uphill battle in trying to convince the Consumer Financial Protection Bureau that the long-standing use of arbitration agreements is beneficial for consumers.
The Consumer Financial Protection Bureau's second arbitration study indicates the bureau's intent to regulate financial institutions' inclusion of clauses that prevent customers from suing.
The bank has partnered with Morningstar's HelloWallet to offer customers financial health scores and a suite of digital tools meant to provide financial advice at a time when branch transactions are on a decline.
Banks can "dot the i's" by focusing on investments and insurance for their customers.
BofA and its Merrill Lynch unit were sued by two former advisor trainees who claim they weren't paid overtime for 10-hour days, long nights and weekend work.
Community and regional banks should be subjected to simpler rules than very large banks, the chairman and CEO of the Buffalo, N.Y., company said. In fact, size is the wrong determinant for risk-based regulation, he said.
Banks and credits unions have only about one-third of the total advisors they need to provide "a really good client experience," says executive at BISA's 2015 annual convention.
The move highlights a broader shift in the way large regional banks are running their wealth management businesses.
Tricia Denise Willis was expelled from the brokerage industry for allegedly swiping $17,400 from a bank customer.
While Generation Y may seem uninterested in what advisors do, they may be the answer to the shortage of talent in the industry.
Veris Wealth Partners, an RIA specializing in sustainable investing, recruited the advisor, who was managing $500 million as a portfolio manager.
To court young talent, banks are reimagining their ads for positions like call center agents and video tellers as YouTube clips. They are also finding ways to make applications easier to fill out on mobile devices.
Bankers at the National Municipal Bond Summit said they believe new bond issuance will increase, especially in the high-yield senior living and charter school sectors.
Revenue from investment services at the typical bank and credit union increased just 6% in 2014, falling far short of bank management expectations.
Frank Epinger will oversee the firm's downtown Los Angeles, Century City, Newport Beach and Santa Barbara offices.
Whenever a comparison has come up in past conversations, big banks usually get the nod due to better technology, name recognition or higher pay grids. But small banks have a lot of fans too.
Advisors who work for larger institutions tend to cover fewer branches, which allows them to focus on service and increase production.
Big banks have a lot to offer advisors, including name-brand recognition and often superior
technology. But the smaller banks have their own set of perks, such as less bureaucracy and the chance to spend more time with family.
Jack Hartings is a vocal proponent of reduced regulation for small banks. But the CEO of Peoples Bank in Ohio wants Washington to force other industries to share the burden of improving cybersecurity and cleaning up after breaches.
The Northeast has always been a competitive market for deposit gathering. Loan growth and the potential for rising interests are forcing banks in the region to find new ways to bring in low-cost liquidity.
As their interest income dwindles, banks are looking to bulk up their wealth management businesses in a bid to boost their fee-based revenue.
The firm agreed to pay $2.6 billion to settle probes into its creation and sale of residential mortgage-backed securities.
A French prosecutor recommended charges for complicity in tax fraud and aggravated money laundering tied to a trust overseen by the firm's office on the island country.
Wealth-management profits fell 2.1% to C$230 million, after recording C$27 million in restructuring costs for its U.S. and international operations, while insurance earnings rose 18% to C$185 million.
While many of the fundamentals of bank programs haven't changed much, the products, technology and sophistication of advisors and clients alike have increased exponentially.
JPMorgan Chase, the biggest U.S. lender, is closing more than 5% of its branches as the firm cuts costs and as more consumers use digital devices to bank.
The megabank's commitment to its branches stands out in an industry where customers are shifting more of their banking activity to mobile devices and PCs, and where banks take an increasingly ruthless look at branch performance numbers.
Steven J. Dunkelberg was barred for allegedly swiping nearly $5,000 from a bank customer's account. He's the third rep to be ousted from the industry this year.
The fight over the Dodd-Frank threshold for enhanced regulations is the first big legislative battle for a loose coalition of regional banks.
The fiscal 2016 budget includes proposals to limit the value of itemized tax deductions for IRAs and 401(k)s and other expenses to 28%.
The group has expanded into Seattle, following entries into New York, San Francisco and Los Angeles.
Bradley Birkenfeld, the former UBS Group banker who won a $104 million whistle-blower award after serving time in prison for tax conspiracy, won a U.S. judges permission to testify in France in a separate probe of the Swiss bank.
The board left his salary unchanged at $1.5 million and he received no cash bonus, a person with knowledge of the decisions said.
A recent research paper found that community banks' assets, along with market share in most types of commercial lending, have fallen since the Dodd-Frank Act was passed. The report is giving advocates of smaller institutions more data to rally around.
Branch closings draw big headlines, but several large banks are entering new markets or bulking up in underrepresented cities by adding branches and hiring lenders. Bank of America, for instance, is planning a retail push in Denver and Minneapolis.
John Houston, managing director of Raymond James Financial Institutions Division, shares his views.
No one can agree on what the Fed will do with interest rates. In the meantime, the banking industry's more-conservative players are devoting more resources toward hoarding low-cost deposits and purging shorter-term borrowings.
Smaller banks must find ways to embrace new and disruptive ways of doing business to compete with bigger institutions and nonbanks, say industry experts.
The firm has made lending and deposits a greater part of its strategy as it seeks to generate more revenue from brokerage clients.
It's a mortgage on top of a mortgage, and at least one lender is making these loans again through brokers.
The bureau is raising concerns about the transparency and clarity of reverse mortgages based on more than a thousand complaints it received about the product.
High-net-worth unit of one of industry's biggest bank programs gets new leader in Terry Jenkins.
New hire will split his time between two community banks that Wintrust's holding company owns in the greater Chicago area.
The senior regional vice president will oversee new bank and credit union clients for Cetera in the eastern part of the U.S.
An SEC fine of a Pennsylvania bank over an accounting matter from more than five years ago raises questions about how long community banks should be on guard about challenges to their conduct during the financial crisis.
The three join a growing roster of J.P. Morgan alumni suspended and fined by FINRA since January.
Jan Hendrickson, former managing director and a founder of a venture capital firm, will grow the bank's ultrahigh-net-worth wealth management business in Seattle.
FINRA finally threw the book at a former J.P. Morgan registered rep who it claims issued unauthorized ATM cards as part of scheme to loot money from customer bank accounts.
Brendan Freeman was named regional wealth executive for Mid-America and will oversee Regions Private Wealth Management teams serving clients in nine states.
Fake identity fraud is growing, due to the plentiful array of consumer account and card data available in the wake of massive data breaches. It's a crime banks find almost impossible to detect and deter
FINRA banned a rep for allegedly forging a customer's signature on bank withdrawal slips, a move that allowed the customer's sister to steal $3,900 from the customer's account. Two others were suspended for relatively minor infractions.
City National's sale to RBC bestows new wealth on two men who have served as Hollywood's private bankers since Steven Spielberg filmed "Jaws."
BB&T and KeyCorp's quarterly results showed how more diversified regional banks can turn to their insurance sales, investment banking and other fee generators for backup until interest rates improve. Whereas the smaller Huntington Bancshares needed strong loan growth in a quarter (and year) when fees fell.
Royal Bank of Canada sold its U.S. retail bank a few years ago to PNC. The company is back with a targeted play: City National, a Los Angeles bank that has built its business targeting the rich and working with Hollywood.
Royal Bank of Canada is ready to take another shot at U.S. banking, agreeing to buy City National in Los Angeles.
Two advisors left Barclays to join regional bank First Republic.
The president used his annual speech before Congress to defend Dodd-Frank while pleading that lawmakers pass cybersecurity legislation.
The Birmingham, Ala.-based bank generated $91 million in fourth-quarter revenue from its brokerage, trust and insurance services operations, up 8.3% year-over-year.
Customer alleged that broker made unsuitable recommendations of mutual funds, structured products and equities that set him back more than $125,000.
The bank's brokerage services generated $64 million in fourth-quarter revenue, up 12% year-over-year.
The $47 million year-over-year decline was due to foregone revenue resulting from the sale of asset management firm RidgeWorth Capital Management in the second quarter of 2014.
Citigroup plans to shed 60 branches as part of its ongoing restructuring, a number of which are said to be in California. It shopped some of the California branches last year, and it may again try to sell some of them.
Bank of America's expenses still far exceed those of JPMorgan Chase and Wells Fargo, so analysts were clearly disappointed Thursday when CEO Brian Moynihan failed to outline any specific plans for further lowering overhead.
Analysts attribute the spate of municipal bankruptcies since 2011 to the aftereffects of the 2008 credit crisis and Great Recession, as well as changing attitudes about debt.
Dan Overbey, president of BISA, and president and CEO of Atlantic Capital Advisors, outlines his top three issues regarding long-term training for bank advisors.
A new push by President Obama to tighten cybersecurity at banks and other businesses could help light a fire under some firms that have historically been slower to react in the wake of a data breach and help financial institutions dealing with a tangle of confusing state laws.
The Federal Deposit Insurance Corp. is attempting to clarify its policy regarding brokered deposits after a persistent flood of inquiries from bank and others about what meets the definition.
The firm will offer advisors expanded trust services and support with multi-generational family planning.
Talking about dementia is one of the hardest conversations advisors will ever have with their clients, says David Gutzke, a wealth management advisor for U.S. Bank. Listen to some of his tips for helping clients and their families with this difficult issue.
Banks are expected to start rolling out digital wealth management offerings this year that could attract young clients who favor a mix of technology and personal advice.
Investors' demands that the country's biggest bank produce better earnings amid costlier regulations are prompting fresh cries to break up JPMorgan Chase.
The firm was sanctioned for failing to review the incoming and outgoing email correspondence of its registered reps.
Predictions by several municipal experts forecast a 2015 that runs the gamut from a flattening yield curve to increased issuance on the heels of a surprisingly strong year of performance in 2014.
Here are 21 simple steps to make 2015 a great year for you, your clients and your business.
After a 10-year stretch with CUSO, Oregon's biggest credit union has switched its investment services program to Raymond James.
Credit Suisse Group was ordered to face a $10 billion lawsuit by New Yorks attorney general accusing the Swiss bank of fraud in the sales of mortgage-backed securities before the 2008 financial crisis.
In-store branches are easier and less expensive to start, but they're also easier to eliminate when banks need to cut costs.
Standard & Poor's gave an investment-grade A-minus rating to a series of bonds Detroit recently sold as part of its exit from bankruptcy.
ATM company Diebold has put together a mini-branch prototype that features artificial intelligence, voice recognition and video tellers.
Oil at $50 per barrel will almost definitely create problems for banks in oil-producing regions as well as Wall Street financial institutions that finance the sector. Analysts already forecast the price of crude will fall that low the only other question is how long it might last.
The president's decision to bolster ties with the island nation will likely give banks relief from sanctions, as well as expanded opportunities for money transfers and the financing of U.S. exports.
JPMorgan Chases asset-management unit promoted Robert Stark to head of strategic relationships, replacing Lee Beck, who left for BlackRock last month.
Monterey Credit Union could be the first credit union to convert since mid-2013. Management hopes the move will allow it to make more small-business loans, while providing greater access to capital.
Lebenthal picked up an RIA that oversees $250 million in assets, as well as a team of two advisors in New York.
Deutsche Bank was accused of using underfunded shell companies to evade U.S. taxes in a government lawsuit seeking $190 million in taxes, penalties and interest.
This year saw a number of mega teams with outsized AUMs switching firms. Here are the biggest recruiting moves of 2014.
Optimism about business growth and a rising sense of alarm at security breaches are shaping U.S. banks' tech spending plans for 2015.
The wirehouse brought over five advisors from UBS and Citi Personal Wealth Management.