Wealth management

ModernFi Raises $18.7M Series A to Power Deposit Growth at Community and Regional Banks

Retrieved on: 
Tuesday, January 23, 2024
Professional Services, Technology, Finance, Software, Fintech, Banking, Entrepreneurship, Huntington Bancshares, Wealth management, DeVita, Face, API, Citigroup, Insurance, Organizational founder, Bertolotti, Andreessen Horowitz, Behavior, MIT, First Horizon Bank, Doctor of Philosophy, Columbia University, General partnership, Friction, Transformation

Faced with higher interest rates and stress in the sector, banks have been seeking new, innovative options that can drive deposits.

Key Points: 
  • Faced with higher interest rates and stress in the sector, banks have been seeking new, innovative options that can drive deposits.
  • Faced with a rapidly evolving deposit landscape, banks across the country have turned to ModernFi to help manage their funding.
  • "In the face of unprecedented deposit outflows and extraordinary banking events, ModernFi's deposit network delivers critical stability and control over deposit management.
  • With their strategic position and track record, we're confident ModernFi will further catalyze growth and provide crucial support to American banks."

$1.6 Billion Advisor Team Joins UBS Private Wealth Management in Northbrook, IL

Retrieved on: 
Friday, January 19, 2024
Asset Management, Professional Services, Finance, UBS, Wealth management, Certification, Fairfield University, University, Michigan State University, Wealth, Adviser

UBS Private Wealth Management announced today that an eight-person financial advisor team, Hammond Fay Bush & Associates , has joined the firm in Northbrook, Illinois.

Key Points: 
  • UBS Private Wealth Management announced today that an eight-person financial advisor team, Hammond Fay Bush & Associates , has joined the firm in Northbrook, Illinois.
  • “We’re excited to welcome Jack, Susan, Brian and their team to UBS,” said Michael Gatewood, Chicago Market Executive at UBS Private Wealth Management.
  • Brian Fay joins UBS as a Financial Advisor and has a decade of experience working in the financial services industry.
  • He earned his bachelor’s degree from the University of Arizona and holds the Certified Private Wealth Advisor® (CPWA®) designation.

Wedbush Securities Welcomes Patricia Hirata and Nobue Weber as Newest Wealth Management duo in Pasadena, CA

Retrieved on: 
Friday, January 19, 2024
Personal Finance, Finance, Consulting, Banking, Professional Services, Multimedia, Wealth management, Security (finance), EVP, U.S. Bancorp, Management

Wedbush Securities , a prominent diversified independent financial services provider, welcomes Patricia Hirata and Nobue Weber to its esteemed Wealth Management team.

Key Points: 
  • Wedbush Securities , a prominent diversified independent financial services provider, welcomes Patricia Hirata and Nobue Weber to its esteemed Wealth Management team.
  • The duo will be based in the firm’s Pasadena office, further expanding Wedbush's presence in the greater Pasadena area.
  • View the full release here: https://www.businesswire.com/news/home/20240119131269/en/
    Wedbush Securities Welcomes Patricia Hirata to its Wealth Management team (Photo: Business Wire)
    In a strategic transition from U.S. Bank to Wedbush, Hirata, a former top producer at the Little Tokyo branch, and Weber, who served as a private banker and associate, join forces to create an impactful wealth management duo.
  • Chris Mone, EVP and Head of Wealth Management, shared, "Bringing Patricia and Nobue on board is a tactical move for Wedbush.

Bailard Achieves B Corp Certification, Recognizing Commitment to Values-Driven Practices

Retrieved on: 
Thursday, January 18, 2024
Consulting, Asset Management, Professional Services, Finance, Culture, B Corporation (certification), CFA, Certification, Wealth management, Management

Bailard, Inc. , an independent wealth and asset management firm, proudly announces its recent certification as a B Corporation™ (B Corp™).

Key Points: 
  • Bailard, Inc. , an independent wealth and asset management firm, proudly announces its recent certification as a B Corporation™ (B Corp™).
  • This achievement marks a significant stride in the firm’s dedication to values-driven practices that benefit its clients and employees, and the community.
  • CEO Sonya Mughal, CFA, emphasized, “Choosing to pursue B Corp Certification was a natural step for Bailard; it aligns seamlessly with the values that have guided us for decades.
  • Learn more about our B Corp journey at www.bailard.com/bcorp and discover how we’re redefining excellence in financial services.

Comerica Bank's California Index's Growth Stalled in the Fall

Retrieved on: 
Monday, January 22, 2024
Comerica, House, Wealth management, Multimedia, Housing, Commercial bank, Retail, CMA, Pressure, Archive, Golden State, GDP, Publication, Unemployment, Atmosphere

Employment rose by 34,500, but the pace of job growth year-to-date has been roughly half of 2022's.

Key Points: 
  • Employment rose by 34,500, but the pace of job growth year-to-date has been roughly half of 2022's.
  • California's real GDP grew robustly in the first three quarters of 2023 following modest 0.7% annual growth in 2022.
  • But Comerica's California Index suggests the Golden State's economy likely lost momentum in the fall amid headwinds to housing, high interest rates, persistent inflation, and slowing consumer spending.
  • The Comerica California Economic Activity Index is a monthly composite indicator of state economic activity.

Comerica Bank's Texas Index Rose in October

Retrieved on: 
Monday, January 22, 2024
Comerica, Wealth management, Employment, Multimedia, Housing, Commercial bank, Retail, CMA, Archive, GDP, Publication, Growth

DALLAS, Jan. 22, 2024 /PRNewswire/ -- The Comerica Texas Economic Activity Index increased by 5.3% annualized in the three months through October and was up 2.2% from a year earlier.

Key Points: 
  • DALLAS, Jan. 22, 2024 /PRNewswire/ -- The Comerica Texas Economic Activity Index increased by 5.3% annualized in the three months through October and was up 2.2% from a year earlier.
  • Also indicating a softer job market, continuing jobless claims rose again and were above 100,000 for the fourteenth consecutive month.
  • The Comerica Texas Economic Activity Index is a monthly composite indicator of state economic activity.
  • To filter out month-to-month volatility in the index components, the index is calculated from the three-month moving averages of its components.

Comerica Bank's Michigan Index Rebounded in October Despite the UAW Strike

Retrieved on: 
Monday, January 22, 2024
Comerica, Wealth management, Employment, Automotive industry, United Auto Workers, Multimedia, Electricity, Housing, Commercial bank, Retail, CMA, EV, Archive, GDP, Publication, Unemployment

The Michigan labor market is likely to recover to its pre-strike condition in early 2024, since the strike ended before 2023's critical holiday shopping season.

Key Points: 
  • The Michigan labor market is likely to recover to its pre-strike condition in early 2024, since the strike ended before 2023's critical holiday shopping season.
  • The timeliest data on auto production, which are not yet incorporated into the index, largely rebounded to pre-strike levels in late 2023.
  • The Comerica Michigan Economic Activity Index is a monthly composite indicator of state economic activity.
  • To filter out month-to-month volatility in the index components, the index is calculated from the three-month moving averages of its components.

Pontera Announces Partnership with Commonwealth Financial Network to Help Its Advisors Better Manage Clients' Wealth

Retrieved on: 
Wednesday, January 17, 2024
Senior, Commonwealth, ISO, Wealth management, Zoom, Growth, Partnership, ICONIQ, Airbnb, SOC, Financial adviser, Uber

Through this partnership, Commonwealth's affiliated advisors can seamlessly and securely manage clients' retirement plan assets via Pontera, further enhancing their ability to support their clients' long-term financial planning goals.

Key Points: 
  • Through this partnership, Commonwealth's affiliated advisors can seamlessly and securely manage clients' retirement plan assets via Pontera, further enhancing their ability to support their clients' long-term financial planning goals.
  • "Pontera's innovative solution enables Commonwealth's investment advisors to serve the needs of their clients as holistic wealth managers.
  • We're excited to build out this partnership to support advisors who make an even greater impact on their clients' financial well-being," said Karen McColl , Senior Vice President of Wealth Management at Commonwealth.
  • "We are thrilled about this partnership with Commonwealth, a real titan in the wealth management industry," said David Goldman , Chief Business Officer of Pontera.

Miracle Mile Advisors Opens Seattle Office, Expanding Advisor Recruitment and Equity Ownership Growth Strategy

Retrieved on: 
Wednesday, January 17, 2024
Strategic planning, RIA, Wealth management, Pacific Northwest, RIAS, Growth

LOS ANGELES, Jan. 17, 2024 /PRNewswire/ -- Miracle Mile Advisors ("Miracle Mile" or "the firm") – a national, award-winning and independent registered investment adviser (RIA) offering highly customized, holistic wealth management to high-net-worth clients across the nation – today announced the opening of its Seattle office. The move represents the expansion of its ongoing financial advisor recruitment initiative to a sixth location nationwide.

Key Points: 
  • LOS ANGELES, Jan. 17, 2024 /PRNewswire/ -- Miracle Mile Advisors ("Miracle Mile" or "the firm") – a national, award-winning and independent registered investment adviser (RIA) offering highly customized, holistic wealth management to high-net-worth clients across the nation – today announced the opening of its Seattle office.
  • The move represents the expansion of its ongoing financial advisor recruitment initiative to a sixth location nationwide.
  • Consistently recognized as one of the industry's fastest-growing RIAs, Miracle Mile has over $5 billion in client assets and over 25 advisors.
  • Miracle Mile aims to grow the firm through the recruitment of financial advisors while enabling all Miracle Mile advisors to become equity holders in the firm.

Rockefeller Global Family Office Expands Northern Division with the Addition of Axiom Wealth Partners of Grand Rapids, MI

Retrieved on: 
Friday, January 12, 2024
Finance, Consulting, Banking, Professional Services, Asset Management, Wealth management, Culture, Rockefeller Capital Management, Vice, Investment

Rockefeller Global Family Office, the wealth management division of Rockefeller Capital Management (“Rockefeller”), today announced its continued expansion of its Northern Division with the addition of Axiom Wealth Partners, based in Grand Rapids, MI.

Key Points: 
  • Rockefeller Global Family Office, the wealth management division of Rockefeller Capital Management (“Rockefeller”), today announced its continued expansion of its Northern Division with the addition of Axiom Wealth Partners, based in Grand Rapids, MI.
  • Axiom Wealth Partners is led by Managing Directors and Private Advisors Jeffrey Towner, David Lund, Brett Howell, and Craig Sharp.
  • The 26-person group joins the firm from Merrill Lynch Wealth Management and will report to Brett Thelander, Northern Divisional Director of Rockefeller Global Family Office.
  • “Axiom Wealth Partners is a highly accomplished team of professionals with a reputation for excellence and integrity that aligns perfectly the Rockefeller brand and culture,” said Christopher Dupuy, President of Rockefeller Global Family Office.