Technology Disruption Driving M&A in Wealth Management
The first wave of acquisitions was driven by incumbents in an effort to slow down client defection to new entrants.
Coders: The Business Partners You Didn’t Know You Had
The developers working behind the scenes on advisor technology represent the glorious underbelly of fintech you’ll likely never see, but depend on every day.
Top Portfolio Products: AssetMark, Fi360’s New Tools to Help Advisors With DOL Rule
In addition, Vestmark unveils a new robo platform and Envestnet to integrate with MoneyGuidePro.
Wells Fargo Probed for Criminal Identity Theft in California
Attorney general serves search warrant on lender; the bank says it’s cooperating, providing requested information.
Morgan Stanley’s Gorman on DOL: Choice for Clients ‘Is Critical’
Executives also say that the impact of this strategy has been included into margin targets for wealth management of 23-25%.
Gender Pay Gap in Financial Services Is One of the Widest
A lack of women in the financial services industry, and especially in executive roles, helps perpetuate the wage gap that exists.
Morgan Stanley Profits Surge, Top Estimates: Q3 Earnings
The wealth unit says its net income increased 11% year over year, while its pre-tax profit margin was 23%.
BofA Wealth Profits Jump 10%: Q3 Earnings
The unit is set to have a new leader in 2017, when it will no longer offer commission-based retirement accounts.
Schwab Profits Soar 33%, Beat Estimates: Q3 Earnings
The firm’s robo-offering now has $10.2 billion in assets, and its pre-tax profit margin topped 41% in the latest period.
Wells Fargo, Amid Turmoil, Beats Estimates: Q3 Earnings
After naming a new CEO this week in response to a scandal, Wells Fargo said its net income fell in the third quarter.