Margarida Correia | May 20
Bank advisors producing $120,000 in revenue had an average payout of 20% last year; those producing more than $2 million averaged 41%.
Margarida Correia | May 17
Debralee Nelson, a recruit from J.P. Morgan Chase, will drum up business among ultra-high-net-worth clients in the New York Tri-State region.
Bloomberg | May 17
JPMorgan Chase & Co., Goldman Sachs Group Inc. and the world's largest banks won rollbacks in final Dodd-Frank Act rules that promise to transform the private swaps market by increasing competition.
Margarida Correia | May 16
Yves Cochez will manage the bank’s portfolio management team and set the overall direction of investment management for high-net-worth clients.
Margarida Correia | May 14
Amid intense competition for high-net-worth clients, the Private Client Reserve is ramping up its marketing efforts to differentiate itself from rivals.
Margarida Correia | May 13
The firm has hired four wealth sales directors in Los Angeles and Newport Beach to drum up business.
Robert Barba | May 13
There were a dozen critically undercapitalized banks at the end of the first quarter, according to Trepp, a data analysis firm in New York. Regulators are compelled to close banks when their capital gets that low. Several have failed in recent weeks, while one found a buyer.
Kevin Wack | May 13
First the good news about the wealth management fever that's sweeping the U.S. banking industry: there are real opportunities for banks that can adapt quickly. The bad news? Competition is fierce.
Brian Browdie | May 10
A former loan officer at Wilmington Trust in Delaware is facing jail time after pleading guilty this week to bank fraud.
Margarida Correia | May 09
Elise Fortin, Umpqua Private Bank’s newly appointed leader in Seattle, believes that Umpqua’s “high-touch” offerings will resonate well with business owners and Gen X investors.
Kate Berry | May 09
Many banks plan to add to their branch networks over the next few years even though all the evidence suggests that foot traffic is declining and that most banking transactions are now conducted online.
Matthew Leising | May 08
JPMorgan Chase & Co. named Erik Bisso to run the bank’s chief investment office for North America, filling a vacancy created last year when Irene Tse left to start a hedge fund.
Margarida Correia | May 08
Steve Felchle and Jason Ernst, formerly with Wells Fargo, bring the total number of financial advisors at USBI to 532, up from 480 in July 2008.
Margarida Correia | May 07
Steven Wieting, managing director and U.S. economist in Citi Research, will be responsible for formulating investment strategies for the business and its clients around the world.
Brian Browdie | May 07
Banks may be about to endure yet another cyberattack by hacktivist groups.
Margarida Correia | May 02
M&T generated $546 million in wealth management income in 2012, nearly three times the $187 million it produced prior to the acquisition of the trust company powerhouse.
Margarida Correia | May 01
The new trust office in Wilmington will provide personal trust services for high-net-worth clients with more than $1 million in investable assets.
Margarida Correia | May 01
Elise Fortin, a former executive of Wells Fargo Private Bank, will be responsible for leading Umpqua Private Bank’s expansion in the Puget Sound region.
Margarida Correai | Apr 30
Gerald Rixie, the former CFO of Calamos Family Partners, joined the Private Client Reserve as a wealth management consultant.
Margarida Correia | Apr 30
Madorie O’Hara, a former Citi Private Bank portfolio manager, will manage investment portfolios for Webster’s private banking clients. She will be based in Stamford, Conn.
Brian Browdie | Apr 29
Software makers Geezeo and Access Softek are teaming to offer money management tools that banks can deliver to customers via smartphones and other mobile devices.
Apr 26
The Wealth Management Division’s assets under management hit $7 billion; looking for $8 billion by end of 2014.
Penny Crosman | Apr 26
Jim Rohr says cybersecurity is one of the biggest issues banks face. The frequent distributed denial-of-service-attacks on banks' web servers that have occurred since September are doing more than disrupting service.
Margarida Correia | Apr 25
Revenue from insurance commissions generated $26.6 million for the Tupelo, Miss.-based financial holding company, up 15.1% from the same quarter a year ago.
Penny Crosman | Apr 24
Consumer advocate Jennifer Openshaw is launching a new company that offers advisors a platform in which to build social media communities, with some compliance features built in.
Margarida Correia | Apr 24
The unit added about $3 billion in fee-based assets over the past few years, with sales going up about 74%.
Maria Aspan | Apr 24
Wells Fargo now gets a third of its fee revenue from its relatively small investment-management and brokerage businesses. Executive David Carroll explains how Wells is getting more business from its wealthy — but not too wealthy — customers and is seeking acquisitions in this market.
Margarida Correia | Apr 22
The firm has hired a former partner of William Blair & Co as a relationship manager and wealth planning strategist.
Joe Adler | Apr 22
Regulators seized two banks in Florida, and one in Kentucky, in a trio of failures Friday.
Margarida Correia | Apr 19
Robert Buzzelli was formerly Allegheny Valley Bank’s chief banking and wealth management officer.
Jackie Stewart | Apr 19
Beth Mooney, the chairman and CEO of KeyCorp (KEY), and other executives took several questions from analysts about their decision to sell Victory Capital Management this year.
Jackie Stewart | Apr 19
Establishing mentoring programs and better employee communication, drawing on the expertise of nonfinancial companies and holding special events aimed at women business owners are some of the ways banks can develop more women executives and clients.
Margarida Correia | Apr 18
Contango Capital Advisors is shooting for growth in AUM of up to 10 times within five to seven years, while also increasing profitability.
Kate Berry | Apr 18
But large banks have narrowed the gap as they have made a more concerted effort to better explain their fee structures to disgruntled customers.
Margarida Correia | Apr 17
Martim de Arantes Oliveira will be responsible for driving the growth of Ascent’s new office, which will open this summer.
Maria Aspan | Apr 17
Despite all the evidence, some bankers are still in denial over how much their industry is disliked and mistrusted these days. That became apparent again Tuesday, during a panel discussion with high-profile industry members and critics.
Mason Braswell | Apr 17
Bank of America’s wealth management division achieved record post-merger revenue, net income and AUM inflows.
Charles Stein | Apr 17
Bank of New York Mellon Corp., the world’s largest custody bank, reported a first-quarter loss after the U.S. Tax Court disallowed certain tax credits.
Margarida Correia | Apr 16
Doug Heding joined the Private Client Reserve as a private banking officer in Milwaukee; Kenan Aksoz joined as a wealth management consultant in Minneapolis.
Christopher Condon | Apr 16
Northern Trust, the third- biggest independent U.S. custody bank, said first-quarter profit rose 1.7 percent as stock-market gains boosted the value of assets the company oversees.
Margarida Correia | Apr 15
In the first quarter of 2013, wealth and investment services generated $7.8 million in revenue, up 7% from a year ago.
Donal Griffin | Apr 15
Revenue from trading bonds declined 3% to $4.6 billion, excluding adjustments, from the same period last year, Citigroup said. David Trone, an analyst with JMP Securities LLC, had estimated $3.2 billion. Moshe Orenbuch, a Credit Suisse Group AG analyst, predicted $4.2 billion.
Brian Browdie | Apr 15
Wells Fargo has rolled out a website to help customers, and eventually non-customers, meet their retirement savings goals.
Hung Tran | Apr 15
Northern Trust is touting the rapid growth of its’ defined contribution assets.
Andy Peters and Maria Aspan | Apr 15
JPMorgan Chase kicked off the first-quarter earnings season by announcing record profits, but the results did little to inspire investor confidence in bank earnings or diminish ongoing scrutiny of the bank's business and corporate structure.
Margarida Correia | Apr 12
Wells Fargo’s wealth, brokerage and retirement business units earned $337 million in the first quarter of 2013, up 14% from last year.
Charles Paikert | Apr 12
David Lamere, the highly-regarded wealth management executive who most recently was CEO of BNY Mellon Wealth Management, has resurfaced at Fidelity.
Donna Borak | Apr 12
President Obama met Thursday with chief executives from the largest U.S. banks, including Bank of America Corp., JPMorgan Chase & Co., Citigroup and Goldman Sachs, according to a White House official.
Margarida Correia | Apr 11
The programs generated a generous $521.6 million in income for the banks in 2012, the most they have ever produced in the five years that such data has been collected.
Lee Conrad | Apr 11
Licensed branch employees represent a significant opportunity that many banks have not tapped to its full potential, according to LPL's Rob Comfort.
Margarida Correia | Apr 10
Jonathan Gabriel, the former COO of MDS Bankmart, once the largest third-party marketing firm for banks, has joined Kehrer Saltzman & Associates as a senior associate.
Heather Landy | Apr 10
There are only a few dozen banks with assets of $20 billion to $350 billion. In this regulatory climate, these regional banks in the middle of the size spectrum look very much like the industry's new sweet spot.
Victoria Finkle | Apr 10
Sen. Bernie Sanders, I-Vt., and Rep. Brad Sherman, D-Calif., reintroduced legislation Tuesday to break up the largest financial institutions. The bill was light on details, however, and did not spell out how a breakup should be done.
Hung Tran | Apr 09
Ultimus Fund Solutions has added David Carson to its senior management team as Director of Client Strategies to manage the series trust product line
Charles Paikert | Apr 08
A rebranding of the businesses is likely, Benevides told Financial Planning, as he “actively works” to unify the UHNW group. “It makes sense,” he said. “We’re one team and we want to leverage the strength each unit brings to the table in a way that gives us greater depth in all categories.”
Bob Van Voris | Apr 05
Bank of America Corp.’s $2.4 billion settlement with investors who lost money as a result of the bank’s acquisition of Merrill Lynch & Co. was approved by a federal judge.
Lee Conrad | Apr 05
Those who do use advisors are scrutinizing the guidance they get and realizing that true value is more than just investment returns.
Michael J. Moore | Apr 05
Goldman Sachs Group Inc., the fifth- largest U.S. bank by assets, said Stephen Friedman will retire from its board of directors on May 22.
Kathleen Hunter and Cheyenne Hopkins | Apr 04
Senator Charles Schumer has shown no shortage of ambition. So the New York Democrat’s silence about his possible interest in taking over as chairman of the Banking Committee worries large banks.
Margarida Correia | Apr 03
Cetera will provide the Fort Wayne, Ind.-based community bank with wealth management services, solutions and support.
Hugh Son | Apr 03
(Bloomberg) Bank of America Corp. Chief Executive Officer Brian T. Moynihan has summoned more than 100 of his regional leaders to a private meeting today where they’ll be pushed to boost the lender’s flagging revenue, said two people with direct knowledge of the project.
Hung Tran | Apr 03
Asset managers have taken notice of the the proliferation of alternative mutual funds in the retail and institutional channels and have changed their game plan accordingly.
Margarida Correia | Apr 02
The bank hired a new wealth management advisor, trust officer and senior portfolio manager in the Minneapolis office of the Private Client Reserve.
Brian Browdie | Apr 02
The Federal Deposit Insurance Corp. took enforcement actions against four banks last month tied to inadequate capital, compliance shortcomings and other matters, according to a series of orders released Friday.
Apr 01
Venu Krishnamurthy, managing director and president of Citigold Wealth Management, discusses his seven years in the securities business.
Rachel Witkowski | Apr 01
An expanded database of complaints that consumers have filed against large financial institutions went public Thursday, but the debate over whether the new treasure trove of information helps or hurt banks is just beginning.
David Glovin | Apr 01
Banks including Bank of America Corp., Barclays Plc and JPMorgan Chase & Co. won dismissal of antitrust lawsuits by plaintiffs claiming they were harmed by the rigging of the London interbank offered rate.
Penny Crosman | Mar 28
Vendors of social media compliance software are expecting a nice boost from the FFIEC's complex new rule proposal.
Charles Paikert | Mar 27
Dallas should be a dream market for independent advisors. But unlike the San Francisco, it has not been as hospitable to independent wealth management firms.
Hugh Son | Mar 27
Brian T. Moynihan, who endured record losses and public thrashings while cleaning up Bank of America Corp.’s mortgage mess, said he wouldn’t mind being chief executive officer of the lender forever.
Brian Browdie | Mar 27
Wells Fargo weathered a cyberattack on Tuesday that left some of the company's customers unable to log in to their accounts.
Margarida Correia | Mar 25
Michael Cabanas, a former managing director at Fiduciary Trust International, will be responsible for sales in the firm’s Southeast US region.
Margarida Correia | Mar 25
Projections call for a 1.9% economic growth rate, below the 2.2% average growth in the first three years of recovery since the Great Recession: TD Economics.
Margarida Correia | Mar 22
Anne Copeland, the newly appointed head of Private Wealth Management, anticipates a “good bit of organic growth” from one of the most basic of business activities.
Margarida Correia | Mar 22
In 2012, banks sold $1.6 billion in life insurance premium, the second highest annual production level ever in the bank channel.
Penny Crosman | Mar 22
ING Direct CIO Charaka Kithulegoda says the only problem with allowing users access to online banking through Facebook is the perceived stigma.
Margarida Correia | Mar 21
In 2012, banks sold $29.6 billion in annuities, down 20% from 2011. Fixed annuities fell 33% to $11.9 billion, while variable annuities slipped 10% to $17.7 billion.
Donna Borak | Mar 21
Federal Reserve Board Chairman Ben Bernanke on Wednesday said regulators would take additional steps to eliminate the problem of "too big to fail" if current efforts fall short.
Margarida Correia | Mar 19
The Pasadena-Calif.-based bank decided to move its program because of Cetera’s technology platform, product menu, reporting capabilities and the training it provides advisors.
Chris Cummings | Mar 19
U.S. Bancorp has agreed to purchase Deutsche Bank's municipal bond trustee business, which has about $57 billion of assets under administration and 1,100 trust and agency contracts.
Maria Aspan | Mar 18
Wells Fargo CEO John Stumpf said banks are no longer "too big to fail," and admonished fellow bankers to accept the existence of the Consumer Financial Protection Bureau.
Maria Aspan | Mar 15
The anger against the country's biggest banks is ready to boil over, Harris Simmons, the chairman and chief executive of Zions Bancorp., warned Wednesday.
Margarida Correia | Mar 14
Umpqua Private Bank plans to add 20 to 25 private bank advisors over the next five years, a move it anticipates will help grow the business to more than 10 times its current size.
Lee Conrad | Mar 14
The system isn’t falling apart, but clients in their 60s have more personal concerns at heart—and you need to be able to answer their questions.
Chris Cummings | Mar 14
Bank holding companies saw a dip in wealth management income in the first three quarters of 2012, a new study says.
Margarida Correia | Mar 13
Ty Schlobohm and Mark Ambrose joined as private client advisors, while Mark Broderick joined as a private client consultant.
Samantha Allen | Mar 12
Program managers and bank advisors may not agree on everything, but most likely they see eye-to-eye on one thing: the desire to increase an advisor’s production.
Samantha Allen | Mar 12
Why is branding so important and how can you build a stronger brand?
Lee Conrad | Mar 12
The self-directed channel hasn’t been as bad as expected for traditional advisors. And there may even be some opportunity left.
Lee Conrad | Mar 12
Few bank executives could state a clear and comprehensive wealth strategy. And most had trouble identifying something about their wealth management efforts that was unique.
Lee Conrad | Mar 11
Banks need to keep their customers in mind as just one constituency when designing their compensation plans for advisors
Margarida Correia | Mar 11
Paul Springmeyer joined the bank’s Private Client Reserve unit as a senior portfolio manager and John Ostrand joined as a trust officer.
Samantha Allen | Mar 11
What does it take to be a successful advisor? And how do you prove your worth to clients?
Lee Conrad | Mar 11
The two Monday morning sessions at the Bank Insurance & Securities Association’s annual conference were billed as “Market Perspectives” and they lived up to the name.
Penny Crosman | Mar 11
In the two months since its launch, the iPad app has been downloaded by a half million Wells Fargo customers, who have rated it just under four stars. What's unique about the app is that it lets customers manage consumer, small business and Wells Fargo Advisors brokerage accounts in one place.
Lee Conrad | Mar 10
If there was a theme to the opening sessions of the Bank Insurance & Securities Association’s annual conference in Florida on Sunday, it could be characterized as moderation.
Margarida Correia | Mar 08
The New York Hudson Valley thrift seeks to make wealth management an important core business line and not just a tertiary line.
Dave Lindorff | Mar 07
Zinder notes that there are 200,000 financial advisors, but that only about 1,000 or so are producing $1 million a year. What are they doing that you’re not?
Irene Park | Mar 07
What's State Street Global Advisor's next big destination for expanding its retirement business?
Margarida Correia | Mar 06
Robert Stevenson, a 14-year veteran of Northern Trust Co., will provide high-net-worth clients with integrated investment services.
Alan Kline | Mar 06
There's still a wide disparity between what buyers are willing to pay and what sellers are willing to accept, and the U.S. Bancorp CEO does not see that gap closing any time soon.
Joe Adler | Mar 05
What will the next big legislation look like? We asked academics, analysts and former top regulators to weigh in.
Margarida Correia | Mar 04
Anne Copeland, an executive vice president of the bank’s Wealth Management Group since April 2012, will lead Regions’ efforts to provide banking, trust, and investment management services to affluent and high-net-worth individuals.
Mary Wisniewski | Mar 04
On the heels of getting recognized for its social media marketing content, Regions Bank dishes on what material has worked best for it and what it plans to do next in the socialsphere.
Brian Browdie | Mar 04
JPMorgan Chase has fired back at attempts by representatives of the former Lehman Brothers to link its collapse with the so-called Whale.
Mar 01
Karen Wimbish, head of retail retirement at Wells Fargo discusses her 16 years in the securities business.
Margarida Correia | Mar 01
The $825 million community bank has selected Infinex Financial Group as its new broker dealer.
Victoria Finkle | Mar 01
Observers say it's unlikely Congress will be able to strike a deal to stop across-the-board budget cuts from going into effect, raising concerns for bankers and regulators alike.
Jackie Stewart | Mar 01
A growing number of community banks are experimenting with traveling employees and student part-timers to cut branch expenses.
Margarida Correia | Feb 28
David Mook, a 29-year veteran of JP Morgan Chase, will lead U.S. Bank’s private banking services, focusing on the needs of high-net-worth and ultra-high-net-worth clients and family-owned businesses.
Margarida Correia | Feb 27
Julie Castle will succeed George Feiger as CEO of Contango Capital Advisors, Zions’ wealth management subsidiary.
Margarida Correia | Feb 27
Banks earned $5.47 billion in insurance brokerage fee income in the first three quarters of 2012, down 7.1% from the year before.
Joe Adler | Feb 27
The Federal Deposit Insurance Corp.'s Quarterly Banking Profile described an industry gaining health, but it still faces several key challenges to maintaining growth.
Joe Adler | Feb 27
Banks and thrifts earned $34.7 billion in the fourth quarter to close out 2012 with the second biggest full-year profit ever, the Federal Deposit Insurance Corp. said Tuesday.
Margarida Correia | Feb 25
U.S. Bank wants to take the business of serving the ultra-wealthy to a higher, “experiential level.”
Elizabeth Dexheimer | Feb 22
Big banks are struggling to find the best way to compensate their chief executive officers, said Sallie L. Krawcheck, former head of wealth management for Bank of America Corp.
Robert Barba | Feb 22
KeyCorp's decision to sell Victory Management puzzled some, who asked why jettison a fee-based business and whether it might buy or sell some branches.
Margarida Correia | Feb 21
In 2012, almost seven in ten advisors (69%) operated in a team-oriented structure, up from 61% in 2011.
Matt Ackermann | Feb 21
KeyCorp will sell its investment management arm, Victory Capital Management and its broker dealer affiliate, Victory Capital Advisers, to a group led by Victory’s senior management.
Maria Aspan | Feb 21
After 10 years of helping to build up expectations at PNC, Bill Demchak will have to surpass them after he becomes CEO this spring.
Sean Sposito | Feb 21
Social media is great for marketing. For customer authentication, not so much.
Brian Browdie | Feb 21
JPMorgan Chase is facing another call from institutional investors to separate the roles of chairman and chief executive.
Margarida Correia | Feb 20
Frankfort, Ky.-based Commonwealth Credit Union, the largest of the three, has $929 million in assets. L&N Federal CU and Glendale Area Schools Federal CU have $786 million and $324 million in assets, respectively.
Victoria Finkle | Feb 19
In her first extensive interview since becoming the lead Democrat on the House banking panel, Rep. Maxine Waters says she has learned a lot from watching former Rep. Barney Frank's leadership and will strive to emulate his example.
Margarida Correia | Feb 19
Bruce Stewart will lead the team in Boston and handle all Boston-related investment business.
Margarida Correia | Feb 15
The new program streamlines reporting for clients and provides them with more concrete action plans to help them achieve their financial goals.
Maria Aspan | Feb 15
PNC Financial Services Group will promote William Demchak to be its next chief executive, awarding him a long-expected inheritance from current CEO James Rohr.
Margarida Correia | Feb 14
Mary Justice joined the Private Client Reserve as the unit’s greater Seattle market leader from Marsh Inc.
Margarida Correia | Feb 14
Fewer investors across all age groups are using traditional advisors as their primary advice provider, with the decline most pronounced among investors under 50.
Brian Browdie | Feb 14
The banking industry and outside observers weighed in Wednesday on a White House order that aims to bolster protection of the nation's critical infrastructure against cyberattack.
Lee Conrad | Feb 13
The number of health savings accounts and high-deductible accounts has increased to 13.5 million
Lee Conrad | Feb 12
Affinity says the relationship should help it grow and increase productivity
Margarida Correia | Feb 11
Only 11% of households cite referrals as the reason for beginning relationships with advisors, according to Cerulli Associates.
Bailey Reutzel | Feb 10
Unlike the soon-to-be-discontinued Facebook Credits, the new Amazon Coins have a ready marketplace with consumers and merchants.
Margarida Correia | Feb 07
Since it launched the program in January 2007, the New Jersey community bank has accumulated $96 million in AUM, and it’s on track to hit $100 million in the next couple of months.
Jackie Stewart | Feb 06
Community banks are starting to regain some traction when it comes to bringing in fees from deposit accounts.
The Federal Reserve Board dealt banks a setback in July 2010 with Regulation E, requiring customer permission for enrollment in overdraft programs. It wasespecially harsh on smaller banks, which have historically struggled with noninterest income. …
Lee Conrad | Feb 05
Many financial advisors lack the skills to address basic issues like setting realistic expectations or educating investors on what retirement even involves
Margarida Correia | Feb 04
Luke Palacio will join Citi Private Bank as managing director and regional market manager for the South East region on March 18. He will look to expand the firm’s presence throughout South Florida beyond Miami, Boca Raton and Palm Beach.
Margarida Correia | Feb 04
The Naples office of The Private Client Reserve is expanding its services, adding new advisors and relocating to a larger office space in the upscale neighborhood of Mercato.
Margarida Correia | Jan 31
Umpqua Bank, a community bank based in Roseburg, Ore., will expand its private banking business into Seattle and San Francisco, where it believes its “high-touch banking products and investment services” will be a good fit.
Margarida Correia | Jan 31
In the fourth quarter, fees and commissions from trust services generated $22.0 million, a 23% increase from $17.9 million a year earlier.
Margarida Correia | Jan 30
The bank has been investing heavily in the wealth management business in terms of hiring and training staff as well as new technology.
Dave Lindorff | Jan 29
Dan Dillard launched a video effort that’s on the verge of reaching thousands of clients beyond his book of business. Here’s the second part of his story.
Dave Lindorff | Jan 29
Advisor Dan Dillard launched a video effort that’s on the verge of reaching thousands of clients beyond his book of business. Here’s part-1 of his story.
Lee Conrad | Jan 28
A lack of benefits for employees at small businesses is not exactly new, but the numbers are getting worse.
John Adams | Jan 28
Dodd-Frank and Basel III mandated stress testing will require substantial data management changes and investments by bank IT shops. Compliance experts say getting the data infrastructure in order now can go a long way toward easing pain in the future.
Margarida Correia | Jan 25
In 2012, revenue from wealth management services reached $29.8 million, a 37.5% increase from 2011.
Margarida Correia | Jan 23
The transaction involves approximately 3,000 accounts and $1.7 billion in assets under administration, which represent non-target business for Citi Private Bank’s trust business.
Mary Wisniewski | Jan 23
New research from Javelin Strategy & Research highlights banking-related trends among Generation Y.
Hung Tran | Jan 23
Brett Meili joined U.S. Bancorp Fund Services as legal counsel to provide support for the organizations’ growing alternative investment products and services.
