Wealth management

The San Francisco bank announced the hiring of a nine-member team led by Merrill Lynch veterans Harold Reinstein and Michael Nelson. First Republic reported 26.4% growth in wealth management revenue during the second quarter.

Officials say the decision to call off the acquisition, first announced in January, was mutual.

The Charlotte, North Carolina, bank is one of several that have embedded automated investing in their online and mobile banking, alongside access to human advisors.

Meg Carpenter, founder and CEO of FiComm partners, discusses the difficulties RIAs have in marketing themselves, the ways in which these entrepreneurs can build on their strengths to reach clients, and how to harness technology to boost their own profiles.

The state's lottery program has begun referring the 30,000 people a year who buy winning tickets to credit unions for financial advice.

Net income at the Toronto-based bank dipped by double digits during the fiscal third quarter. But the company's U.S. operations, including City National Bank in Los Angeles, fared better.

Credit Suisse Group is shifting resources in the pursuit of business from a broader range of rich clients, as the lender focuses more on wealth management amid cuts to its troubled investment bank. 

With financial literacy apps, scholarships and college-team sponsorships, credit unions are fighting for market share among students.

The House passed the legislative package, which includes an excise tax on stock buybacks, in a 220-207 vote.

BlackRock is offering its first-ever investment product directly in bitcoin, marking a significant move into crypto markets by the world's largest asset manager.