Finance

FINRA's annual snapshot shows how the wealth industry is changing, from key business metrics and marketing trends to shifts in registration and a shrinking branch footprint.

The regional bank revealed plans Thursday to close most of its supermarket-based branches and replace about half of them with new, nearby standalone branches. The multiyear transition could attract $20 billion to $30 billion in low-cost deposits, executives said.

State Street executives said Thursday that one of its investment funds was selected as the default investment option for "Trump accounts."

A breakout month by the company's newly acquired investment banking subsidiary, BTIG, added nearly $100 million of revenue during the second quarter.

As the SEC pushes to widen access to private equity, private credit and other alternative investments, Morgan Stanley and Envestnet are among firms that already have funds no longer aimed exclusively at "accredited investors."

In its latest 2026 guidance, the Pittsburgh-based bank predicted an increase in income, but also an uptick in expenses. Much like JPMorganChase, which made a similar revision to its forecast this week, PNC views the two trends as inseparable.

"Ultimately, adoption and embedding in a company is going to be the differentiator for many firms on whether or not they're successful with AI," said BNY CEO Robin Vince.

The investment banking giant has a hefty amount of excess capital, some of which is being used to meet client demand. At the same time, the company is open to opportunities to do bolt-on acquisitions, CEO Ted Pick said.

Economists at the government-sponsored enterprise have been lowering their single-family origination volume estimates for several months.

The Buffalo-based company reported its first organic linked-quarter CRE loan growth since 2021, as well as a sharp increase in commercial-and-industrial lending activity.

Industry economists and analysts were predicting single digit quarter-to-quarter gains, but a trio of large banks had an over 30% rise in mortgage volume.

The global bank said it's ready to take advantage of opportunities to accelerate investments into its business, with an eye toward achieving longer-term, sustainable growth. Analysts had tough questions about the plans.

The company plans to use the funding to expand its global banking services, including using stablecoins for cross-border payments.

The well above-average advisor graduation numbers, paired with Merrill's recruiting efforts, suggest the wirehouse is serious about adding lots of talent.

For the banks involved in the record-shattering IPO, this year's second quarter was marked by a spike in investment banking income.

The San Francisco-based banking giant remains on track to hit its $50 billion spread income target for all of 2026, CEO Charlie Scharf told analysts.

JPMorganChase CEO Jamie Dimon declined to give specifics on when he will step down, saying the decision ultimately rests with the board of directors.

Michael Burry, a GSE investor and early predictor of the Great Financial Crisis, is eyeing the senior preferred liquidation preference and a 2028 deadline.

The volume of bankruptcy filings has been climbing, particularly among small businesses. But analysts note that the numbers are still below pre-pandemic levels.

In pitting AI agents against historic 60-40 portfolio results, JPMorgan found AI won every time. But researchers could not rule out the possibility that the systems could have essentially cheated.