By Tatiana Bautzer and Manya Saini (Reuters) -Morgan Stanley’s first-quarter profit beat estimates on Tuesday, fueled by a resurgence in investment banking and growth in wealth management, sending shares up 3.7%. Investment banking revenue climbed 16% from a year earlier. Fixed-income underwriting did well for a second quarter in row, driven by higher bond issuance.
Collaboration marks PFG’s first partnership with a credit union in Idaho, serving as third-party RIA. PHOENIX, April 09, 2024–(BUSINESS WIRE)–Priority Financial Group (PFG), a third-party registered investment advisor (TP-RIA) serving financial advisors and financial institutions, announced a strategic relationship with Idaho Central Credit Union (ICCU), a premier credit union in Idaho and Washington with approximately
Traditional wealth management services often involve face-to-face interactions with financial advisors, extensive paperwork and opaque fee structures, making the process daunting for many potential investors. However, the digital age has brought about significant shifts in consumer expectations and demands, prompting the industry to adapt and innovate to remain relevant. Enter open banking — a concept
WINNIPEG, MB, April 3, 2024 /CNW/ – IGM Financial Inc. (IGM) (TSX: IGM) today reported total assets under management and advisement of $252.2 billion at March 31, 2024, compared with $247.5 billion at February 29, 2024, and $234.1 billion at March 31, 2023(1). Assets under management and advisement are shown in Table 2. Total consolidated net
Citigroup will expand its wealth management business in the Greater Bay Area and rest of Asia from its base in Hong Kong, according to its global wealth head. The US banking group remains committed to Hong Kong and China despite selling its mainland wealth business to HSBC in October, Andy Sieg said after visiting a
We should be asking much deeper questions now than simply about whether and when another stock market bubble burst might come. We should be re-examining the role of private and public sectors in allocating financial resources to the global economy. Failure to do this could result in a dramatic rise in tax rates around the
Welcome back to “Ask an Advisor,” the advice column where real financial professionals answer questions from real people. The topic can be anything in the world of finance, from retirement to taxes to wealth management — or even advice on advising. Last week, after years of resistance, the SEC approved the spot bitcoin ETF. Specifically,
Morgan Stanley was boosted by its wealth management unit as the ongoing deal drought has taken its toll on Wall Street’s dealmakers. The lender’s wealth management business added net new assets of $282bn in 2023, growing 7%, according to results published on 16 January. Investment banking revenue, meanwhile, tanked from 13% to $4.6bn as deal activity has remained in
The anticipated US interest-rate cuts, the Hong Kong government’s measures to attract family offices and the coming investment migration scheme will attract investors to yuan-denominated assets this year, according to a senior executive at Standard Chartered Bank. The lender, one of the three note-issuing banks in the city, believes the Federal Reserve will start cutting
For long-term wealth creation in India, investing in mutual funds through SIPs (Systematic Investment Plans) has become one of the most prevalent and successful strategies. SIPs give investors the ability to systematically accumulate wealth by allowing them to invest a certain amount into the mutual funds of their choice at frequent intervals, usually every month.