Bank of America sees net income drop a third in 2020
Bank of America reported a net income of $17.9bn in 2020, a 34% drop from the $27.4bn earned in 2019. Furthermore, net income for Q4 2020 also fell, from $7bn...
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Robo-advice for sophisticated investors: We are not quite there yet
Demand from investors for automated or robo investment services has been on the rise globally. But to fully infiltrate the…
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BNY Mellon profit plunges in Q4 2020
BNY Mellon has reported a 50% slump in net income and a 20% decrease in total revenue in Q4 2020. However, the firm registered growth…
AJ Bell Investments announce 100% increase in annual AuM
AJ Bell Investments’ has debuted its first reporting of assets under management (AuM) for the quarter ending 31 December 2020, standing at a £1bn ($1.3bn).…
Wealth manager Covenant closes One Advocate Group takeover
San Antonio, Texas-based wealth management firm Covenant Multifamily Offices has expanded its presence in its home market by concluding the…
Germany’s wealthpilot receives investment boost to fuel expansion
German fintech wealthpilot, which provides consumer financial data aggregation software for the wealth management industry, has secured €8m investment in…
BlackRock files documents to add Bitcoin Futures to two funds
US-based asset manager BlackRock has filed prospectus documents with Securities and Exchange Commission (SEC) to add Bitcoin futures as eligible…
Morgan Stanley profit surges in Q4 2020 on trading boost
Morgan Stanley has reported a 51% jump in net income in Q4 2020, driven by robust investment banking and wealth management…
Expert Commentary & Analysis
View MoreCybersecurity poses increased concern amid COVID-19 outbreak
Cybersecurity will become more of an issue to financial services institutions thanks to the increased usage of digital channels, as COVID-19 necessitates continued lockdowns and social distancing mandates. Implementing additional…
COVID-19: UK wealth managers must focus equity investors on the long term
The coronavirus pandemic has been the catalyst for global stock markets to crash. Declines in the FTSE 100 are mirroring the 2008 financial crash and wealth managers will be put…
Australia’s COVID-19 recession will heavily impact banks
The medical effects of COVID-19 on Australia are still building, with caseloads rising and likely to continue doing so for some time. GlobalData examines the effects of the global financial…
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Optimism over global economic recovery hits a low as May ends: Poll analysis
The global economic growth in 2020 has been eclipsed since the Covid-19 pandemic outbreak causing fears of looming unemployment and recession in a number of…
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IN ASSOCIATION WITH SMARTSTREAM Whether it is familiar through movies, books, conferences or real-world applications, we are all acquainted with the concept of artificial intelligence…
Julius Baer rolls out digital assets service
Swiss private banking group Julius Baer, in association with crypto-bank SEBA, has launched its digital assets service. The pair collaborated…
Northern Trust delves deeper into blockchain with BondEvalue tie-up
American asset manager Northern Trust has struck a partnership to offer asset servicing and digital solutions to the blockchain-powered bond trading…
Forward thinking robo-advisors go back to basics
Increased competition within the online wealth management, or robo-advice, industry is ongoing. The cutthroat climate has now led another robo-advisor…
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COVID-19: Despite the virus, Italy’s retail wealth is remarkably stable
The economy in Italy has been shrinking for several years, having a negative impact on the country’s savings and investment market, now Covid-19 is affecting retail wealth. However, Italian investors’…