PaeGAG / Shutterstock Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Cash is king, right? Well, not always. Sometimes you can have so much cash sitting around in your bank account that it turns into a wealth-devouring demon. On average, American families had about $62,410 in their checking accounts, according to the Federal Reserve’s 2022 Survey of Consumer Finances (1). For most people, that balance is simply higher than it should be. Top Picks In ...

First Northern Bank Acquires Beacon Wealth StrategiesFeb 17, 2026 12:53 PM Eastern Standard Time# First Northern Bank Acquires Beacon Wealth StrategiesShare---DIXON, Calif.--([BUSINESS WIRE])--First Northern Advisors, a division of First Northern Bank, is pleased to announce the acquisition of Beacon Wealth Strategies, a well-respected independent financial advisory firm owned and operated by Tom Cicchini. This acquisition ensures the continued delivery of personalized wealth management services to Beacon W ...

Core Insights - Canaccord Genuity Group reported a significant increase in revenue and earnings for its fiscal 2026 third quarter, driven by favorable market conditions, particularly in the mining sector, amid record gold prices and strong demand for industrial metals [4][6] Financial Performance - Firm-wide revenue reached CAD 616 million for the quarter, marking a 37% year-over-year increase and a 16% sequential rise, representing the second-highest quarterly revenue on record [3][7] - Adjusted pre-tax net income was CAD 81 million, doubling from the prior-year period, resulting in an adjusted diluted EPS of CAD 0.36 [2][7] - Capital markets revenue rose 43% year-over-year to CAD 301 million, with Australia contributing nearly 50% of total investment banking revenues, primarily linked to natural resources [6][8] Wealth Management - Wealth management revenue was CAD 304 million, up 30% year-over-year, with adjusted pre-tax net income increasing by 57% to CAD 57 million [10] - The growth in wealth management was supported by a 32% rise in commissions and fees to CAD 240 million, mainly from Australia and Canada [11] Strategic Moves - The company completed the sale of its U.S. wholesale market-making business and acquired CRC-IB and Wilsons Advisory, enhancing its Australian wealth management scale [5][17] - A rights offering was initiated to reduce acquisition debt while maintaining control over the Australian business, with ownership expected to decline from 65% [16] Client Assets - Client assets reached a record CAD 145 billion, up 26% year-over-year, driven by market appreciation, acquisitions, and positive net flows [12] Cost Management - Non-compensation expenses decreased to CAD 152 million, representing 25% of revenue, with a focus on margin expansion [13] Outlook - The company anticipates some moderation in revenue levels but expects broadly supportive market conditions, particularly in Canadian capital markets and improving results in the U.S. and U.K. [18]

PNC Bank Targets the Mass Affluent With New Banking and Investing Service - Barron'sSkip to Main ContentThis copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.---# PNC Bank Targets the Mass Affluent With New Banking and Investing Service## The company plans to hire hundreds of f ...

Summary of Futu Holdings (FUTU) Conference Call Company Overview - **Company**: Futu Holdings (FUTU) - **Market Cap**: $21.1 billion - **Current Price**: $151.49 - **Target Price**: $213.39 - **Upside Potential**: 40.9% [1] Key Takeaways Industry and Market Position - **Client Growth**: Futu is optimistic about new client growth driven by the Hong Kong IPO market, new market launches, and market share gains in existing markets. The company plans to enter one to two new markets in 2026 [1][20]. - **Market Share**: In Hong Kong, Futu has approximately a 30% share in client accounts but only 1% to 2% in terms of assets under management (AUM), indicating significant room for growth [17]. Strategic Focus - **Client and AUM Growth**: The company aims to attract higher-net-worth clients and increase wallet share in established markets like Hong Kong. The average client asset balance in international markets has shown double-digit quarter-over-quarter growth [20][21]. - **Revenue Diversification**: Futu is diversifying its revenue streams beyond simple trading, focusing on higher-margin derivatives, wealth management, banking integration, and cryptocurrency [1][32]. Competitive Landscape - **Differentiation**: Futu differentiates itself through superior user experience and technology, targeting a specific niche among global peers rather than competing on price [1][17]. - **US Market Strategy**: Futu finds the US market attractive and aims to fill gaps between competitors like HOOD and IBKR by offering sophisticated user tools and a user-friendly experience [18]. Financial Performance and Projections - **Revenue Growth**: Projected revenue growth is significant, with estimates of HK$ 13,503.8 million for 2024, increasing to HK$ 29,132.9 million by 2027 [5]. - **Net Income Growth**: Expected net income growth of 27.0% in 2024, with a peak of 95.0% in 2025 [5]. - **Earnings Per Share (EPS)**: Projected EPS growth from HK$ 39.30 in 2024 to HK$ 102.51 by 2027 [5]. Risks and Challenges - **Rate-Cutting Impact**: Management believes that potential negative impacts from a rate-cutting cycle on interest income can be offset by higher trading volumes and growth in margin financing [1][32]. - **Client Acquisition Costs**: Futu views brand marketing as a continuous investment, with a low client churn rate of less than 1% over the past two quarters [26]. New Products and Initiatives - **Product Development**: Futu plans to focus on product development in 2026, particularly in banking integration and cryptocurrency, while maintaining a competitive commission rate in Asian markets [32][19]. - **Market Expansion**: The company is strategically selecting new markets based on investor interest in overseas allocations and the competitive landscape [27]. Conclusion Futu Holdings is positioned for significant growth in the coming years, with a strong focus on client acquisition, revenue diversification, and market expansion. The company's strategic initiatives and optimistic outlook on market conditions present a compelling investment opportunity, despite potential risks associated with market volatility and competition.

Union Bancaire Privée (UBP) has made senior leadership changes in its Middle East operations, naming Fahd Iqbal as head of investment services in Dubai, according to a press release posted on Zawya. Operating out of Dubai, Iqbal will be responsible for embedding the Global Investment Committee’s investment approach locally. He will report to UBP Dubai office senior executive officer Arfat Qayyum. Iqbal previously served as chief investment officer for the Middle East at UBS and has held positions at Cr ...

Core Viewpoint - Morgan Stanley has demonstrated strong financial performance and stock growth, significantly outperforming the broader market and sector indices over the past year [2][3][6]. Company Overview - Morgan Stanley, with a market capitalization of $290.5 billion, operates as a global financial holding company, providing a diverse range of services including capital raising, financial advisory, investment products, lending, and wealth management across various regions [1]. Stock Performance - Over the past 52 weeks, Morgan Stanley's stock has increased by 31.1%, compared to a 14.3% return from the S&P 500 Index, and has risen 2.2% year-to-date, while the S&P 500 has gained 1.4% [2]. - The company's shares have also outperformed the State Street Financial Select Sector SPDR ETF, which rose by 4% during the same period [3]. Financial Results - In Q4 2025, Morgan Stanley reported earnings per share (EPS) of $2.68 and net revenues of $17.89 billion, both exceeding forecasts. Investment banking revenue surged by 47% to $2.41 billion, driven by a 93% increase in debt underwriting revenue to $785 million, as global M&A activity reached over $5.1 trillion [6]. - Wealth management revenue rose by 13% to $8.43 billion, contributing to a record total annual revenue of $70.65 billion [6]. Future Projections - Analysts project an 8.4% year-over-year growth in EPS for the fiscal year ending December 2026, reaching $11.07. The company has a strong earnings surprise history, having beaten consensus estimates in the last four quarters [7]. - The consensus rating among 27 analysts is a "Moderate Buy," with 10 "Strong Buy" ratings, three "Moderate Buy" ratings, and 14 "Holds" [7]. Analyst Ratings - The current analyst sentiment is more bullish than three months ago, with eight "Strong Buy" ratings. Wolfe Research analyst Steven Chubak has raised the price target for Morgan Stanley to $211 with an "Outperform" rating [8].

Summary of Futu Holdings (FUTU) Conference Call Company Overview - **Company**: Futu Holdings (FUTU) - **Market Cap**: $22.7 billion - **Industry**: China Brokers & Asset Management - **Current Price**: $162.57 - **Target Price**: $213.39 (implying 31.3% upside) [1] Key Points 1. Positive Market Outlook and Client Growth - FUTU is upgraded to a Buy rating based on a favorable capital market outlook and a re-evaluation of client growth and turnover rates [1] - Forecasts indicate FUTU will add 802,000 and 659,000 new paying clients in 2026E and 2027E, representing growth of 24% and 16% respectively [2][18] 2. Competitive Advantages - FUTU's competitive edge lies in its low-fee structure and high client retention rate of 98%, which is significantly higher than traditional financial institutions [3][54] - Compared to peers like TIGR, East Money, IBKR, and HOOD, FUTU has a higher Return on Equity (ROE) and operational efficiency [3] 3. Revenue and Profitability Projections - Revenue projections for 2026E are revised to HK$25.7 billion, up from HK$21.5 billion, with net income expected to reach HK$12 billion [1][5] - Interest income constitutes 40% of revenue, with limited impact from potential Fed rate cuts estimated to reduce revenue by approximately HK$435 million or 2% [4] 4. Digital Assets and Future Growth - FUTU is expanding into digital assets, currently offering retail crypto trading, which is expected to attract new clients and increase Assets Under Management (AUM) [16][68] - AUM is projected to grow from HK$1,313 billion in 2025E to HK$1,858 billion by 2027E, with a CAGR of 19% [25][30] 5. Market Share Expansion - FUTU's market share in Singapore is estimated at 12% of the population aged 15-64, and 30% in Hong Kong, expected to reach 47% by 2027 [24][37] - The company has successfully captured market share during downturns, demonstrating strong product competitiveness [24] 6. Client Acquisition Costs and Cash Flow - FUTU has sufficient cash flow to support high Customer Acquisition Costs (CAC) for new client acquisition, which is crucial for market share expansion [35][39] - The average CAC has shown improvement, indicating effective client growth strategies [20] 7. Competitive Landscape - FUTU faces competition from traditional financial institutions and large fintech companies like Ant Group, but its strong brand and client retention mitigate potential risks [56][58] - The company is positioned to capture clients from traditional players, with a focus on enhancing its wealth management capabilities [58] 8. Future Product Diversification - FUTU plans to introduce more diversified products and services, including enhancements in wealth management and a comprehensive crypto service platform [68][69] - The expansion into new markets such as the US, Japan, Malaysia, and Australia is expected to drive further growth [71] Financial Highlights - **Revenue Growth**: Expected to grow from HK$13.5 billion in 2024 to HK$29.1 billion in 2027E [5] - **Net Income Growth**: Projected to increase from HK$5.4 billion in 2024 to HK$14.3 billion in 2027E, with a net income growth rate of 27% in 2025E [5] - **EPS**: Expected to rise from HK$39.30 in 2024 to HK$102.51 in 2027E [5] Conclusion Futu Holdings is positioned for significant growth driven by a favorable market outlook, strong client acquisition strategies, and competitive advantages in the brokerage space. The company's focus on digital assets and market expansion will likely enhance its profitability and market share in the coming years.

Core Viewpoint - Northern Trust has appointed Katie Pries as the Country Executive for Northern Trust Asset Servicing in Canada, highlighting the strategic importance of the Canadian market for the company [1][5]. Group 1: Leadership and Management - Katie Pries will oversee the growth and management of Northern Trust's business in Canada, including client and regulatory relationships, and will serve on the Canadian Management Committee [2]. - Pries has a strong background, having previously served as president and CEO of Northern Trust Canada and in various senior roles since joining the company in 1989 [3][4]. Group 2: Market Importance - Canada is a key market for Northern Trust, with over 150 clients across 10 provinces and three territories, and the company has over 30 years of experience in providing asset servicing solutions tailored to institutional investors [5]. - Northern Trust Canada leverages its deep understanding of the local market to offer valuable insights and strategic perspectives to its clients [5]. Group 3: Company Overview - Northern Trust Corporation is a leading provider of wealth management, asset servicing, asset management, and banking services, with a global presence and significant assets under custody/administration of US$18.7 trillion and assets under management of US$1.8 trillion as of December 31, 2025 [6].

Core Insights - UBS announced that four financial advisor teams in its Southeast region have been ranked 1 in their respective cities on the Forbes Best-in-State Wealth Management Teams list for 2026 [1][2] - The ranking highlights the performance of over 6,100 teams that collectively manage $8.3 trillion in assets, based on qualitative and quantitative criteria [2] Company Overview - UBS is a leading global wealth manager and the top universal bank in Switzerland, managing $6.1 trillion in invested assets as of Q4 2024 following the acquisition of Credit Suisse [3] - The firm operates in more than 50 markets worldwide and is listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE) [3]