From time to time American Banker cites analysts employed by TowerGroup. References in our pages to Tower typically also name its parent company, MasterCard Inc., but how we identify Tower sometimes varies and therefore merits clarification. TowerGroup is a wholly owned but independently operated subsidiary of MasterCard. According to Tower, MasterCard has no influence on its coverage of the industry or the opinions its analysts express.
In a constantly changing industry, clearing and custody fees defy generalizations. The largest independent broker-dealers present financial advisors with the choice of working with a "self-clearing" firm or one that outsources those essential services.
The printable PDF includes rankings based on the firms' 2025 revenue as well as the number of financial advisors, compensation, total client account assets and more.
Morningstar finds that active investment managers beat low-cost passive index trackers only 27% of the time over a 12-month stretch.
Account titling and beneficiary designations could contradict what clients write in their wills, undermining estate planning. Advisors can help keep these current.
In the latest example of lenders rolling back their hybrid work policies, the nation's second-largest bank will soon require its employees to choose nonconsecutive days to work from home.
HomeTrust Bancshares, which has been eyeing Virginia as part of its growth strategy, plans to acquire the formerly troubled Blue Ridge Bancshares in an all-stock transaction.
