News Topic: High net worth

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The San Francisco bank is also bulking up in Florida and Wyoming, no-tax states where many of its affluent clients have retired or have second homes. ... Read full article

Hood's comments mark an unusual turn for an industry famous for its bipartisanship. ... Read full article

A decade into her role as head of JPMorgan Chase's asset management arm, Erdoes continues to deliver strong results for the nation's largest banking company. ... Read full article

How is the Pennsylvania bank trying to differentiate itself in wealth management? By assembling a team of private bankers to cater to the complex needs of high-net-worth clients. ... Read full article

"If you gathered the U.S.-based senior counsels of the major Chinese banks operating in the United States," said Joseph Loffredo, assistant general manager and chief financial officer at the New York branch of China Merchants Bank, ... Read full article

Billionaire CEO Jamie Dimon is OK with tax hikes on the rich, as long as the revenue goes where he thinks it'll do the most good. ... Read full article

The company also expanded the responsibilities of Chief Administrative Officer Andrea Smith. ... Read full article

The Swiss banking giant has been accused of helping wealthy French clients hide assets from tax authorities. ... Read full article

Clarfeld Financial Advisors will become a division of Citizens Bank Wealth Management. ... Read full article

The senator wants the Fed to retain its asset cap on Wells Fargo until the CEO is fired; industry groups call on regulators to reconsider or scrap plans to modify Volcker Rule. ... Read full article

The firms' profit reports this week showed they're increasingly rushing into the booming market for lending to high-net-worth individuals. So far, it's paying off: Morgan Stanley has tripled those loans in the past five years, while Goldman ... Read full article

Under Erdoes, the megabank's asset management unit posted record revenue and net income in 2017 as client assets hit an all-time high. ... Read full article

Perimeter security is broken, says Amber Baldet, former head of blockchain at JPMorgan Chase and founder of fintech startup Clovyr. ... Read full article

Digital advice is still in its early days, says SigFig CEO Mike Sha. ... Read full article

Apps aimed at the very wealthy have lagged behind those for other groups, but there's interest in developing them, especially ones that track total net worth. ... Read full article

Needs of wealthy clients are 'a lot more complex,' says Kraleigh Woodford, managing director and head of digital client experience at UBS Wealth Management. ... Read full article

New financial products may be exciting for wealth managers — but one group of people isn't benefitting, warns Neesha Hathi, the chief digital officer for Charles Schwab. ... Read full article