Wealth management

The custody bank's $485 million purchase of GE Asset Management is consistent with its plan to invest in higher-growth, higher-return business lines. But analysts say the deal won't move the needle enough to alleviate short-term pressure on top-line growth.

Banc of California in Irvine has agreed to sell its wholly owned investment adviser subsidiary, The Palisades Group.

The deal to buy TradeKing would allow the online-only bank to offer wealth-building products to its roughly 1.1 million depositors. The additional low-cost deposits could also help fund loan growth as it looks to expand beyond auto lending and into mortgages and credit cards.

Wealth management units have been a surefire source of fees for banks over the last few years, as low rates dragged down spread income. But a policy change will likely be a crucial test to the business model.

Wealth management revenue has been a bright spot on bank earnings for the last few years, but regulatory changes to the way advisers can charge for their services will likely dramatically change the business.

Ally Financial announced Tuesday that it had agreed to buy the online brokerage firm TradeKing Group for approximately $275 million. TradeKing, based in Fort Lauderdale, Fla., has roughly $4.5 billion in client assets.

More than half of all U.S. households have suffered a "financial shock" in the past five years. Some say mobile apps could help users brace for — and recover from — such setbacks.

HarborOne Bank is proving that financial education really can improve the bottom line.

State Street has agreed to buy General Electric's asset management unit for as much as $485 million.

Less than a year after investing in MX Technologies, USAA has partnered with the startup to provide personal financial management tools to its 11.4 million members.