Balancing personalized client service and scaling
Independent Registered Investment Advisors (RIAs) face numerous challenges in their industry, but advisors who have firsthand experience highlight one particular obstacle: finding a balance between offering personalized service and meeting the demands of growth. According to Financial Planning’s latest Financial Advisor Confidence Outlook (FACO) survey, one-third of advisors identified “personalized client service vs. scaling efficiency” […]
When my kids grow up, I’m moving to Miami
The Shift of Hedge Fund Managers to Miami: A Closer Look In recent years, there has been speculation about New York hedge fund managers potentially moving their operations to Miami. While this shift has not happened overnight, industry experts suggest that it may be a matter of time before we see a significant migration. The […]
DFCC Bank agrees to purchase Standard Chartered’s Sri Lankan operations
DFCC Bank Acquires Standard Chartered Bank’s Wealth and Retail Banking Businesses in Sri Lanka In a significant development in the Sri Lankan banking sector, DFCC Bank has entered into a binding business sale agreement to acquire Standard Chartered Bank’s (SCB) wealth and retail banking businesses in the country. The deal, which is financed solely from […]
Synapse bankruptcy dismissed, CFPB may start paying victims
Synapse Bankruptcy Dismissal: Questions Surface Over Victim Compensation The recent dismissal of the Synapse Financial Technologies’ bankruptcy case has raised eyebrows across the finance industry, with queries about the reimbursement of victims taking center stage. The case was dismissed by Judge Martin Barash, in response to a request from bankruptcy trustee Jelena McWilliams. McWilliams, a […]
UBS loses a $6B team, gains Morgan Stanley recruiting head
UBS Loses $6 Billion Team to Start RIA, Hires New Recruiting Head from Morgan Stanley Amid continued advisor defections, UBS has lost a team with billions in client assets that’s left to start an RIA with offices in Boston and Los Angeles while pulling a new recruiting head from Morgan Stanley. Denis Cleary and Greg […]
These banks rely on their cultures to navigate thorny issues
The importance of a values statement For most companies, the most basic expression of their culture comes through a values statement. Virtually all banks have such statements, but their significance runs much deeper than a mere check-the-box exercise, BankIowa Marketing Director Josh Fleming told American Banker. The $821 million-asset BankIowa’s purpose, vision and values statement […]
Blue Ridge, which erred with fintechs, exits consent order
Virginia’s Community Bank, Blue Ridge, Overcomes Challenges With Fintech Partnerships The banking industry is no stranger to the challenges and opportunities posed by the rise of fintech. One such example comes from Blue Ridge Bankshares, a community bank based in Richmond, Virginia. After a troubled stint with fintech partnerships, the bank has now been released […]
Finzly brings agentic AI to back-end payments processing
Agentic AI Streamlines Back-End Payment Operations in Banks and Credit Unions Financial institutions are continually exploring new ways to leverage artificial intelligence (AI) to improve their operations. One such innovation is the introduction of agentic AI to back-end payment processing. Finzly, a fintech company based in Charlotte, North Carolina, is leading this wave of technological […]
RIAs are divided on advice-only flat fee structures
Financial planners have long relied on assets under management (AUM) fees as the foundation of their businesses. But as more independent RIAs enter the market, alternative fee models are gaining traction. Among the most popular are advice-only, flat-fee arrangements, where advisors charge by the hour or month instead of basing their income on client portfolios. […]
Synapse bankruptcy case tossed | Banking Dive
Synapse Financial Technologies Bankruptcy Case Dismissed After 19 months of legal proceedings, a judge made a significant decision regarding Synapse Financial Technologies’ Chapter 11 bankruptcy case. The judge, Martin Barash, granted bankruptcy trustee Jelena McWilliams’ request to dismiss the case in June, citing Synapse’s lack of funds to repay creditors and the failure to find […]