Free investment education and testing for risk tolerance are among the ways financial firms can better reach underserved consumers, former SEC chief Jay Clayton and Operation HOPE’s John Hope Bryant say.
Peapack-Gladstone in New Jersey has more than doubled its assets under management in the last six years, taking advantage of buyouts of its smaller rivals as it aims to become less dependent on net interest income.
Flourish, a fund backed by Pierre and Pam Omidyar, invests in startups that address social and financial inequities yet (key caveat) are still promising moneymakers, a top official of the fund explains.
BMO Wealth Management aims to modernize its investment service and give advisers better equipment. Others offering automated advice solutions include UBS, Wells Fargo and JPMorgan.
