High net worth

A decade into her role as head of JPMorgan Chase's asset management arm, Erdoes continues to deliver strong results for the nation's largest banking company.

How is the Pennsylvania bank trying to differentiate itself in wealth management? By assembling a team of private bankers to cater to the complex needs of high-net-worth clients.

"If you gathered the U.S.-based senior counsels of the major Chinese banks operating in the United States," said Joseph Loffredo, assistant general manager and chief financial officer at the New York branch of China Merchants Bank, "you'd find one outlier, a lady about half the age of most of the others."

A handful of institutions are dipping a toe into a niche lending market that saw sales level off precipitously in the wake of the Great Recession.

Billionaire CEO Jamie Dimon is OK with tax hikes on the rich, as long as the revenue goes where he thinks it'll do the most good.

The changes affected Dean Athanasia, Thong Nguyen, Katy Knox and Andy Sieg. The company also gave more responsibility to Chief Administrative Officer Andrea Smith.

The Swiss banking giant has been accused of helping wealthy French clients hide assets from tax authorities.

Clarfeld Financial Advisors will become a division of Citizens Bank Wealth Management.

The senator wants the Fed to retain its asset cap on Wells Fargo until the CEO is fired; industry groups call on regulators to reconsider or scrap plans to modify Volcker Rule.

The firms' profit reports this week showed they're increasingly rushing into the booming market for lending to high-net-worth individuals. So far, it's paying off: Morgan Stanley has tripled those loans in the past five years, while Goldman Sachs is expanding overseas.

Under Erdoes, the megabank's asset and wealth management unit posted record revenue and net income in 2017, even as it navigates a lot of disruption.

Perimeter security is broken, says Amber Baldet, former head of blockchain at JPMorgan Chase and founder of fintech startup Clovyr.

Digital advice is still in its early days, says SigFig CEO Mike Sha.

Apps aimed at the very wealthy have lagged behind those for other groups, but there's interest in developing them, especially ones that track total net worth.

Needs of wealthy clients are "a lot more complex," says Kraleigh Woodford, managing director and head of digital client experience at UBS Wealth Management.

New financial products may be exciting for wealth managers — but one group of people isn't benefitting, warns Neesha Hathi, the chief digital officer for Charles Schwab.

Data about client behavior will drive better user experiences.

People welcome help managing their money, and they don’t mind their own data being analyzed, as long as the result is easy-to-digest information and recommendations they can act upon, JPMorgan’s Kelli Keough said at the In|Vest conference.

There are serious consequences for firms that do not embrace the latest tech tools, says Kelli Keough, the global head of digital wealth management for JPMorgan Chase.

Even as women make up an increasing share of potential clients in the private wealth sector, only a small percentage of financial institutions are reaching out to them.