Morgan Stanley analyst says forecasts have set the stage for surprises.
Geopolitics and higher rates are weighing on sentiment.
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'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.
The firm has also hired a new CIO as it scales up its operations.
$1T asset manager has also promoted Americas real estate head to a global role.
People moves are gathering pace as the new year gets underway.
Strategists say an early rate cut could be delayed if prices keep rising.
Haven demand is growing as investors fear escalating tensions.
Nascent secondary market is expected to see record pace of activity as investors seek liquidity.
The biggest takeaway from the December CPI report could be that the Federal Reserve is done raising rates, rather than the timing or number of its cuts.
'Financial advisors don’t understand bitcoin,' one senior executive notes. 'It's a disaster waiting to happen.'
It's the firm's first announced deal of 2024 following 12 last year.
Founders say the Avise Financial platform puts ownership back in the hands of advisors.
Wall Street firm believes that while 1.5% of cuts is probably correct, there could be more easing needed.
