Wealth management

In the days of diskettes, Quicken was an innovator. Now, the personal financial manager aims to reclaim its glory days as it targets the 35-and-older crowd.

Northern Trust on Tuesday promoted Michael O'Grady to president. O'Grady currently serves as head of corporate and institutional services at the Chicago-based custody bank, overseeing businesses such as asset servicing and investment management.

The digital-advice startup SigFig has now teamed up on robo-advisory offerings with Wells Fargo and UBS, while BlackRock's FutureAdvisor has lined up agreements with U.S. Bancorp, BBVA and others.

Midland States Bancorp in Effingham, Ill., has launched an efficiency push after a period of expansion that reached another milestone Thursday.

The bank's decision, announced Wednesday is an indication many in the industry believe the rule isn't going away, despite speculation that the incoming Trump administration could delay or kill it.

They are called HENRYs — high earners, not rich yet — and they have the potential to generate lucrative wealth-management and other fees for banks if they could just dial back their spending.

UBS is piloting a program with Alexa, Amazon's chatbot. Clients won't be able to ask Alexa about their portfolios yet, but they can ask questions about the economy.

Higher costs associated with its GE Asset Management acquisition, legal reserves and job cuts combined to reduce State Street's third-quarter profit.

The Center For Financial Services Innovation has released a framework it says is designed to spur safe data sharing between banks, fintechs and third-party data aggregators.

TD Ameritrade and its largest stakeholder, Toronto-Dominion Bank, agreed to buy Scottrade Financial for $4 billion, combining two of the largest online brokerages while expanding the U.S. operations of Canada's second-largest lender.

Bank of New York Mellon's ability to bring in new business for its massive custody business propelled its quarterly profit.

Northern Trust’s success in attracting new trust and investment management clients helped to boost its third-quarter profit.

The demographics of our country are changing. If businesses aren’t figuring out a way to change, too, they risk being left behind.

First Republic Bank in San Francisco said Thursday that its third-quarter profit climbed 27.4% from the same period last year, to $171.8 million, thanks to double-digit gains in both interest and fee income.

Funding of startups will cool overall, but venture capitalists anticipate growth in new areas of financial services that are ripe for innovation, including wealth management, insurance and back-office operations.

B of A's Merrill Lynch unit by early next year plans to join Charles Schwab, Fidelity Investments, BBVA Compass, U.S. Bancorp and others in offering clients a low-cost investing app and online service.

State Street on Wednesday appointed a new chief financial officer.

JPMorgan Chase's Thasunda Duckett has been named chief executive officer of consumer banking as part of one of the bank's periodic management reshufflings.

BNY Mellon's Karen Peetz tops the 25 Most Powerful Women in Banking list; the 25 Most Powerful Women in Finance list is led by Mary Callahan Erdoes at JPMorgan Chase; and Nandita Bakhshi at Bank of the West heads the 25 Women to Watch list.

Johnny Burris, an investment advisor, has been embroiled in a four-year dispute with the bank, his former employer, which he says pressured him to push his clients into the bank's own or favored investment products. JPMorgan, and now Finra, accuse Burris of causing the (three-figure) client loss and neglecting to make his superiors aware of the problem.