Standard Chartered is considering reestablishing its private bank in Switzerland as part of the lender’s efforts to bulk up its offerings for wealthy customers https://t.co/ltcggnnvZp ...

Core Insights - First Western Financial, Inc. has appointed Alex McDougall as Regional President for its Arizona offices, bringing over 18 years of experience in private banking and wealth management [1][2] - McDougall previously held senior roles at JPMorgan and First Republic Bank, where he achieved significant growth in market share and deposits [1][2] - His appointment reflects First Western Trust's strategic investment in Arizona, emphasizing community engagement and support for local businesses [3][4] Company Strategy - First Western Trust aims to strengthen its presence in Arizona, a key growth market, by focusing on client service and community involvement [3][5] - The firm continues to support local entrepreneurs and nonprofit organizations through partnerships and philanthropy [4][5] - Leadership at First Western believes that exceptional client service and personal connection are critical differentiators in the banking industry [4] Leadership and Experience - Alex McDougall has received multiple industry accolades, including the President's Circle Award and Top Contributions to Banking Award, highlighting his ability to drive client satisfaction and business growth [2] - His leadership style aligns with First Western's philosophy of serving as trusted advisors, which is expected to enhance the firm's client-focused approach in Arizona [4][5] - McDougall holds a Business Administration degree and has served on various nonprofit boards, indicating a commitment to community service [5]

With a limited pool of seasoned private bankers to tap India’s booming wealth, one firm is bucking the trend by planning to hire dozens of new graduates https://t.co/7es1alzE5y ...

The real wealth test:Can you hold through the moments you most want to sell? ...

Oversea-Chinese Banking Corporation Ltd (SGX: O39), better known as OCBC, is another Singapore-headquartered bank that most of us are familiar with.What may not be as widely known is that OCBC is the oldest among the 3 local banks (DBS, UOB, and OCBC). It was formed in 1932 through the merger of 3 local banks, the earliest of which dates back to 1912.Today, OCBC operates more than 400 branches and representative offices across 19 countries and regions, with its core markets in Singapore, Malaysia, Indonesia ...

Core Insights - The "Beyond Wealth" study by First Citizens Wealth reveals that business owners and wealthy Americans are adapting their financial strategies to navigate economic challenges while maintaining optimism about their ventures [1][4] Group 1: Business Owners' Financial Strategies - A significant majority of business owners (66%) fund their operations through personal savings, with 40% relying on traditional bank loans [2] - Experienced entrepreneurs are more likely to utilize private equity or venture capital, with 38% of seasoned owners doing so compared to 18% of first-time owners [2] - Experienced owners are also reinvesting in their businesses at higher rates, focusing on long-term growth despite economic pressures [3] - Business owners are adjusting pricing strategies (34%), increasing marketing efforts (23%), and changing vendor relationships (22%) in response to economic challenges [3] Group 2: Business Exit Plans and Financial Confidence - Most business owners plan to exit through a sale, with family, business partners, or management as common successors, yet only 40% intend to retire post-exit [4] - There is a strong sense of control and optimism among business owners, with 54% expressing confidence in their financial situation, compared to 35% of wealthy non-owners [7] Group 3: Wealthy Americans' Financial Behavior - Wealthy Americans have diversified their sources of wealth, with "stock/options in company employed with" seeing the largest year-over-year increase [5] - Despite strong financial positions, over half of wealthy Americans feel stressed about finances, primarily due to inflation (62%) and stock market volatility (44%) [6] - Wealthy Americans are cutting back on discretionary spending, particularly on luxuries, in response to financial stressors [6] Group 4: Investment Trends Among Wealthy Americans - Most wealthy Americans focus on traditional assets like stocks and mutual funds, but there is a growing trend towards diversification, with 45% owning private equity and 35% owning cryptocurrencies [8] - Generational differences in investment preferences are evident, with Millennials favoring private equity and cryptocurrencies, while Boomers prefer more traditional savings methods [8]

So, we got some new data on how the wealthy are managing and maybe even spending some of their money. The one guy who knows more about money and how they spend it is here at the table. He's going to spend it for us, Robert Frank.He's got the details. >> Good to see you, Andrew. Welcome to back.Uh, only a third of millionaires in fact surveyed use a wealth adviser. And among those who do, many are planning a change. A survey by long angle, that's the network of high netw worth founders and executives, found ...

RT Anthony Pompliano 🌪 (@APompliano)Wealthy people have entire teams working for them to better understand their finances and help identify potential areas of improvement.The average person can't afford to hire the same team.So we built @cfosilvia to democratize access to the same intelligence and insights.The best part? Silvia is completely free to use.Anyone can sign up, connect their accounts, and Silvia will immediately get to work on your behalf.She can do complex calculations, predict how current even ...

Robinhood beat Wall Street expectations for the third quarter on Wednesday, extending a hot streak that has made it one of the biggest large-cap U.S. tech stocks this year.Here is how Robinhood's results compared to Wall Street estimates, according to analysts surveyed by LSEG:Earnings per share: 61cents vs. 53 cents expectedRevenue: $1.27 billion vs. $1.19 billion expectedRevenue doubled year-over-year, while net income climbed to $556 million, or 61 cents per share, up significantly from the same quarter ...

Financial Data and Key Metrics Changes - The company reported adjusted operating EPS of $2.45, reflecting a nearly 30% year-over-year increase, driven by earnings growth across all business segments [11] - Generated over $200 million in excess capital during the quarter, with year-to-date capital generation reaching approximately $600 million, positioning the company to exceed its $700 million full-year target [17][18] - Return on equity improved to 18%, with approximately $150 million of capital returned in the third quarter through share repurchases and dividends [17] Business Line Data and Key Metrics Changes - In the retirement segment, adjusted operating earnings reached $261 million, a 24% increase year-over-year, supported by strong organic defined contribution net inflows of approximately $30 billion year-to-date [11][12] - Investment management generated $62 million in adjusted operating earnings, a 13% year-over-year increase, with nearly $4 billion in net flows for the quarter, bringing year-to-date net flows to over $13 billion [13][14] - Employee benefits reported $47 million in adjusted operating earnings, primarily driven by favorable group life claims and prudent management of expenses [15] Market Data and Key Metrics Changes - The wealth management business experienced 20% year-over-year sales growth, with total client assets reaching approximately $35 billion [9] - The company serves nearly 20 million workplace customers, indicating a strong market presence and growth potential in the retirement and employee benefits sectors [10] Company Strategy and Development Direction - The company is focused on profitable growth across its diverse business lines, with strategic investments in wealth management and a disciplined approach to capital deployment [5][18] - Plans to continue investing in technology and advisor recruitment to enhance the wealth management segment, aiming for accelerated growth [9][32] - The company is committed to returning excess capital to shareholders while pursuing strategic M&A opportunities, particularly in retirement roll-ups [18][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering on full-year targets and advancing long-term strategy, citing strong execution and financial strength [20] - The company anticipates a return to target margins in the retirement segment as strategic investments in wealth management are made [12][15] - Management highlighted the importance of leveraging claims experience to inform underwriting and reserve levels for the stop-loss business [28] Other Important Information - The company resumed share repurchases during the quarter, with plans to repurchase an additional $100 million in the fourth quarter [17] - The launch of an integrated claims system for leave management is set for January 1, 2026, enhancing the employee benefits offering [15][61] Q&A Session Summary Question: Size of wealth management investment for 2026 - The company expects to use up to $75 million of excess capital on wealth management investments, primarily in technology and advisor recruitment [24][26] Question: Expectations for stop-loss margins in 2026 - Management indicated that reserve levels are firming up for the 2024 cohorts, with claims experience being leveraged for underwriting in 2026 [28] Question: Corporate expenses in Q3 and Q4 - Higher corporate expenses are attributed to strong performance-related compensation accruals, with expectations to return to a normal run rate next year [36] Question: Edward Jones partnership success - The partnership with Edward Jones is on track, with distribution agreements executed and technology connections being finalized for integration [80][82] Question: Blue Owl partnership plans - The Blue Owl partnership aims to access private investments and innovative solutions for retirement outcomes, with a rollout planned by the end of the year [84]