Forty merger and acquisition deals were completed by registered investment advisory firms in the first half of the year, the best first half ever in terms of deal volume, according to data from the Schwab Advisor Services unit of Charles Schwab Corp.

For as much press as the recent financial reform legislation received, most financial advisers appear unaware of its importance for their business and clients.

Financial advisers spend 23 hours a week on the Internet visiting industry and fund manager websites as well as social networking, a survey by kasina found.

The Tennessee bank said it has bought Professional Mortgage in Greenville, S.C., which services about $1.1 billion of commercial mortgage loans for 23 correspondent life company lenders.

The sale of the struggling Financial Freedom unit to an undisclosed buyer would continue CIT's strategy of shedding noncore business lines.

The Louisiana company also set aside funds to cover efforts to settle litigation tied to its mortgage business.

Contactless payments, staging and early wage access have built a permanent following and should be part of any alternative financial services mix, says DigitaMint's Marc Grens.

The uncertainty from the pandemic has made costs unpredictable, says Ally Lending's Hans Zandhuis.

Consumers will still prefer minimizing physical contact, while relying on digital payments and looking forward to adopting smarter methods that are secure, convenient, and less time-consuming, says Global Market Insights' Vinisha Joshi.