The asset and wealth division helped drive the results, posting its highest quarterly revenue in two years on a gain tied to the sale of its Personal Financial Management unit.
'We’ve made significant investments the last few years across our franchise to better serve our customers, and help drive growth,' says Wells CFO Mike Santomassimo.
'In 2023, a record number of existing Bank of America clients became Merrill clients,' says Eric Schimpf, president and co-head of Merrill Wealth Management. 'We can and will do more here.'
The agreement with federal prosecutors ends a years-long investigation and allows the bank to avoid criminal charges.
The bank said the windfall may continue this year; its earnings also included a $2.9B charge for an FDIC special assessment related to last year's bank failures.
Nascent secondary market is expected to see record pace of activity as investors seek liquidity.
'Financial advisors don’t understand bitcoin,' one senior executive notes. 'It's a disaster waiting to happen.'
Wall Street firm believes that while 1.5% of cuts is probably correct, there could be more easing needed.
BridgePort Financial Solutions can provide smaller RIAs with support in areas such as technology, practice management and outsourcing.
Finra reveals it's keeping tabs on salespeople and financial advisors who are involved in the marketing and sale of digital assets.
Why hedge fund managers, advisory firms and other financial services firms are basking in the sun in Miami.
Total compensation for the IBD's CEO hit $34.9 million in the company's fiscal year ended Sept. 30.
The Cypress Group will operate out of RBC’s office in Wilmington, North Carolina.
'Ninety-nine percent of the time, lending to customers or borrowing from them is a bad idea.'
Zachary Fiandt will align with Financial Partners Inc.
Wall Street stalwart gained from regional bank collapses but can it maintain momentum?
Finra hits LPL, Interactive Brokers with fines as 2023 closes.
Genstar Capital made its original investment in the firm in 2018.
But what will the ultimate asking price for Osaic be as the firm moves toward an IPO?
Louis Goff and others had been charged with raising $2.1 million from investors in a fraud from 2019 and 2020.
