Wealth management

UBS plans higher fees to push rich clients out of costly cash


The company and its global peers have seen their profitability hurt by half a decade of negative interest rates, which effectively make banks pay for holding clients’ cash.


CIT sells wealth management business to FirstSun Capital


CIT inherited the business with its purchase earlier this year of Mutual of Omaha Bank.


Bryn Mawr Bank shuts down investment advisory business


The Pennsylvania bank incurred $2.3 million in expenses in second quarter after winding down unit BMT Investment Advisers.


Why Signature Bank is pressing ahead with West Coast expansion


The New York commercial bank says geographic diversification is a long-term necessity and that the interplay of its private banking and commercial banking businesses has helped it withstand the economic shock of the coronavirus.


Financial services industry struggles to emerge from lockdown


Our third monthly survey found almost six out of 10 employers report that their plans for the return to work are stymied by uncertainty — specifically, a lack of clarity on the right timing, and persistent questions about how to provide a safe environment for their employees.


Banks continue to embrace robo advisers (even if customers don’t)


Citizens Bank and Citigroup are among the financial institutions plugging away at a service that has gained little traction among customers.


Wells Fargo hires another JPMorgan alum to head wealth management


Barry Sommers, a former head of wealth management at the New York bank, is the latest high-level hire by Wells CEO Charlie Scharf.


Banks say they’re gaining on fintechs during pandemic


In wealth management and consumer lending, banks are starting to win back clients they had been losing to startups.


How businesses are surviving the pandemic


Our second monthly survey found a smooth transition to remote work and digital customer access channels — but technology issues still arose. The pandemic has highlighted the importance of having a strong digital presence across all retail sectors, including financial services.


QCR records impairment charge tied to planned advisory group sale


The Illinois company will sell Bates Cos. to an undisclosed buyer less than two years after buying the wealth management firm.