Wealth management

A handful of banks and fintech companies are letting bank customers connect via chat bots on platforms like Slack of Facebook messenger. Some say this is the next big thing, while others say the technology still has a ways to go.

Changes in consumer behavior – including a growing distrust of financial advisers – are driving the rise of robo advisers, says Gauthier Vincent, a consultant with Deloitte.

Hedgeable sees the peer-to-peer business and personal loans as an alternative to fixed-income investments that are traditionally offered through exchange-traded funds.

State Street's cost-cutting plan began to pay dividends, as the Boston company's second-quarter profit rose sharply on lower expenses.

Though several banks have begun automating financial advice for smaller investors, some are also providing more personalized services — such as counseling family members who have suddenly inherited a fortune.

People's United Financial in Bridgeport, Conn., has agreed to buy a New York wealth-management firm.

Morgan Stanley outlined its plans for deploying automated advice tools, with executives emphasizing that it was only a part of its digital strategy.

Costs from a lawsuit settlement, the modification of some customers' contracts and employee severance costs combined to push down second-quarter profit at Northern Trust in Chicago.

Propel Venture Partners, the venture capital firm backed by BBVA, led a $7 million investment round in Guideline, a fintech startup focused on 401(k)s.

The investment banking firm's GS Bank unit has added a large number of consumer deposits since spring, but its success hasn't been cheap.

The three custody banks had been projected to post weak second-quarter results because of a lull in foreign exchange trading. Then Brexit happened, and everything changed.

Wells Fargo plans to pilot a digital advice platform in early 2017, according to a high-ranking executive at the wirehouse.

Bank of America, the second-biggest U.S. bank by assets, said second-quarter profit fell 21% as it took an accounting charge and posted a decline in wealth management revenue.

The U.K.'s mobile-first Starling Bank has received a banking license from the Financial Conduct Authority and Prudential Regulation Authority.

The rules, meant to deter crimes like money laundering, offer banks and others a rare chance to gather valuable information that helps create personalized experiences millennials want.

BancAlliance, a consortium of more than 200 community banks, is partnering with the digital wealth management firm Personal Capital.

Banks are experimenting with apps and mobile features that are available to everyone as they search for new ways to connect with potential customers.

Although intended to protect investors from market volatility, a decision by Betterment to temporarily suspend trading the morning after the British referendum has the wealth management industry wondering aloud if the robo-adviser harmed its reputation instead.

Huntington Bancshares named FirstMerit executive Sandra Pierce as senior vice president of its private-client group. Pierce will report to CEO Stephen Steinour and oversee the lender's wealth management, private bank, national settlements and retirement businesses.

The bank is rolling out a new digital advice offering that pairs robo technology with financial advisers, most of whom have the CFP designation.