Wealth management

The managing director of a multifamily office shares the tech that reduces drudgery and amplifies empathy — and an easy screen to help advisors steer clear of the dreaded "AI ick."

Amid geopolitical uncertainty and fears of a trade war, family offices also show a preference in investing in developed markets.

Governor Greg Abbott proclaimed Texas the "financial capital of America" at the Texas Bankers Association's annual convention; Columbus, Ohio-based Northwest Bank named Chad Ballard chief information officer; Deutsche Bank terminated some staff as a result of its client relationship with convicted sex offender Jeffrey Epstein; and more in this week's banking news roundup.

Head of Schwab Advisor Services Jonathan Beatty maintains there's more than enough wealth management business for everyone to share. But at least one critic says Schwab is clearly seeking a bigger piece of the pie.

The crypto industry thought it could do trust better than the banks, found out it couldn't and realized it needs rules to guarantee trust.

Cryptocurrency companies have rushed to apply for national trust charters from the Office of the Comptroller of the Currency during the second Trump administration after remaining on the sidelines for years. Experts say the trust charters offer them scale, Fed access and legitimacy without the full regulatory burden of traditional banks.

Jason Co is out to prove that advisors can serve Asian Americans effectively and profitably. His FAANetwork is the result.

Jim Gold of Steward Partners thinks impending advisor retirements will continue driving smaller RIAs into M&A deals with big acquirers — even as AI turns many investors into "do-it-yourselfers."

Berkshire Hathaway is narrowing its bank exposure, and sitting on a mountain of money. That says something about the market.

Amerant Bancorp in Coral Gables, Florida, appointed Carlos Iafigliola its permanent president and CEO; Morton Community Bank in Illinois reached a deal to buy a three-branch franchise in the Land of Lincoln; Bank First in Manitowoc, Wisconsin, agreed to acquire PSB Holdings; and more in this week's banking news roundup.

Justin Brownlee started an RIA targeting energy, oil and gas employees. His hyperspecific marketing tactics have helped grow the firm into a thriving niche.

Fidelity Institutional Wealth Management Services faces competitive threats in an era of ETFs and multicustodian advisory practices. But it has big advantages.

According to a recent survey by Janus Henderson, 79% of clients said they would be upset to learn an advisor used AI without telling them.

Firms with big recruiting loan balances are often the ones with the most success hiring advisors from industry rivals. But the numbers also suggest they're offering increasingly generous deals.

Select ChatGPT users can now connect their bank accounts to the AI-powered chatbot for personal money management advice based on their financial history.

Allowing clients to surrender or lapse life insurance policies before gauging value on the secondary market amounts to a fiduciary fail, argues Cole Hallman of Citizens Life Group.

NASAA's proposal would align state laws with the SEC's marketing rule, eliminating concerns advisors have about running afoul of more local laws as they accept testimonials and reviews.

Marketing experts say that advisory practices trying to grow organically must be thoughtful about the button that offers website visitors a meeting — or they could lose the prospect altogether.

Stephan Feldgoise and Joshua Schiffrin will join Goldman Sachs' management committee; Fidelity Investments is dismissing about 800 personnel as it restructures its technology and product-delivery teams; Citi has hired JPMorgan's André Ross as its country officer and banking head for South Africa; and more in this week's banking news roundup.

Wealth head Andy Sieg sees bank-based advisors as key to securing more of the $3 trillion its U.S. banking customers hold elsewhere. But he's also looking to AI.