AI notetakers and chatbots are taking over wealth management. The next frontier may be less glamorous.Regulatory compliance could become the next battlefield for advisors and offer significant cost savings for firms, which often pay millions of dollars to comply with federal and state regulations, as well as industry rules, each year. Much of those expenses cover risk officers and compliance teams. The new tools would only add to AI’s already significant impact on financial services; the fintech market, wh ...

Market Performance - Australia's share market approached its intraday record high, with the S&P/ASX200 gaining 85.2 points (0.95%) to 9,076.1 and the All Ordinaries rising 81.1 points (0.94%) to 9,386.5 [1] - The top 200 index surpassed its previous intraday record of 9,054 following higher-than-expected September unemployment figures at 4.5%, suggesting a potential interest rate cut by the Reserve Bank of Australia (RBA) in November [2] Sector Performance - Real estate stocks surged by 2.3%, with Stockland increasing by 4% due to sales growth in master-planned community sales during the September quarter [3] - Financials rallied by 1.8%, driven by strong performance from the big four banks [3] Company Highlights - AMP Limited's assets under management grew by 3.6% to $159.5 billion, leading to an 11% increase in its stock price to $1.96, the highest since 2020 [4] - Macquarie's stock rose over 4% to $227.94 after selling a network of 50 data centers to Nvidia-backed Aligned Data Centers for $US40 billion (A$62 billion) [4] Raw Materials and Energy - The raw materials sector increased by 0.5%, with profit-taking observed in rare earths stocks like Iluka (-7.3%) and Lynas (-3.4%) [5] - Gold prices reached a record high above $US4,227 (A$6,507) per ounce, boosting gold miners like Northern Star and Evolution, which surged over 2% [5][6] Consumer Sector - Consumer discretionary stocks rose by 1%, supported by a 12th consecutive month of higher household spending, indicating economic strength [7] - The Australian dollar traded at 64.87 US cents, a slight decrease from 65.19, following the morning's jobs data [7]

Core Insights - Wirehouses experienced year-over-year revenue increases in Q3, with major banks surpassing earnings estimates [1] - Merrill's wealth division reported $6.3 billion in revenue and $3.9 billion in asset management fees, reflecting increases of 10% and 12% year-over-year [2] - Morgan Stanley's total client assets reached $8.9 trillion, up from $7.7 trillion, moving closer to a target of $10 trillion [6] Merrill's Performance - Merrill added approximately 5,400 net new relationships in Q3, with 79% of these having assets over $500,000 [2] - The firm has seen a more than double increase in households with alternative investments over the past five years, with a 12% rise in advisor adoption since Q2 2024 [3] Alternative Investments and Cryptocurrency - Merrill's focus on alternative investments includes exploring sports franchises as a potential entry point for clients [3] - The firm is actively offering clients access to cryptocurrency ETFs, with products approved for wealthy clients since February 2024 [4] - Predictions suggest that by the end of 2025, all four major wirehouses will facilitate easy access to Bitcoin ETFs for advisors [5] Morgan Stanley's Financial Outlook - Morgan Stanley's CFO indicated a potential modest sequential gain in net interest income for Q4, despite expected Federal Reserve rate cuts [7] - The firm is attracting assets through fee-based flows, not solely relying on net new assets [7]

Core Insights - ESL Federal Credit Union has acquired Alesco Advisors, enhancing its wealth management and investment advisory business to over $10.8 billion in assets under advisement and $9.3 billion in assets under management [1] - Alesco Advisors, founded in 2000 by Jim Gould, will continue to operate under its name as a wholly-owned subsidiary of ESL [2][5] - The acquisition will introduce outsourced chief investment officer capabilities to ESL's offerings, while Alesco's employees are expected to retain their current roles [5] Company Expansion - ESL has been actively expanding its wealth management services, launching ESL Trust Services in 2017 to add estate planning capabilities [3] - In 2019, ESL Investment Services acquired Cooper/Haims Advisors, which had over $1 billion in assets under management and advisement, enhancing its tax and financial planning services [4] - In 2023, ESL Investment Services expanded its Retirement Plans group to offer a comprehensive suite of retirement plan consultant services [4]

Core Insights - Orion has launched Tailored Allocation Portfolios, integrating direct indexing services with third-party model portfolios to enhance investment strategies for advisors and clients [1][5] Group 1: Product Offering - Tailored Allocation Portfolios combine Orion's direct indexing with model portfolios from First Trust Advisors, Janus Henderson, and Russell Investments, with plans for additional third-party managers in the future [1] - The portfolios are designed for investors with concentrated positions, legacy holdings, or unique tax situations, allowing advisors to transition assets into ETF and mutual fund-based models using proprietary tax-transition technology [2] Group 2: Cost Structure - There are no additional costs for advisors or investors, as participating asset managers fund the platform [3] Group 3: Market Demand - A report from Cerulli Associates indicates that tax harvesting and ETF integration are highly valued by advisors in portfolio construction [4] - Broadbridge Financial Solutions reported a 5.5% increase in model assets among RIAs in the first quarter, reaching $883.5 billion, highlighting strong demand for such investment products [4] Group 4: Strategic Vision - Orion's president emphasized the importance of personalizing portfolios to meet clients' goals and tax needs while maintaining cost efficiency and simplicity [5] - The Tailored Allocation Portfolios aim to provide tax efficiency, risk management, customization, and scalable automation, aligning with Orion's vision for impactful, tech-enabled investment management [5] - The portfolios were soft-launched in August 2025 and are now available across various Orion advisor platforms [5]

LIVE Bank of America Profit Soars 23%, Continuing Sector's Strong Start to Earnings Season Last Updated: 25 min ago Morgan Stanley Wealth Unit Shines in Buoyant Stock Market By Andrew Welsch The bull market is doing wonders for the wealth management industry as clients put more money in their accounts and conduct more trades. For evidence, look no further than Morgan Stanley. The company is one of the nation's largest wealth managers, with thousands of financial advisors and self- directed brokerage E*Trade ...

The investment firm owned by the family behind Chanel is acquiring a stake in Rockefeller Capital Management, valuing the wealth adviser at $6.6 billion https://t.co/IGTyBf0A5j ...

Core Insights - CAIS, a New York City-based alternative investment platform, has expanded partnerships with Envestnet, Orion, and Vestmark to enhance the management of public and private assets for users [1][3] Group 1: Partnerships and Integrations - The new partnerships will allow users to manage the full lifecycle of alternative investments, reducing operational friction in onboarding, trade processing, fund administration, and custodial connectivity [4] - The integration with Envestnet will provide advisors a single platform to source, allocate, and oversee alternative investments, transforming portfolio management across asset classes [5] - Orion Wealth Management emphasizes that collaboration with CAIS will streamline the integration of public and private investments, enhancing efficiency and transparency for clients [5] - Vestmark's integration with CAIS aims to create a modern foundation for advisors to build diversified portfolios and operate more efficiently [5] Group 2: Industry Context and Trends - The announcement follows CAIS's earlier capability to integrate with third-party TAMPs and managed account platforms, indicating a trend towards expanding access to private markets [2][3] - The industry is witnessing a convergence of technology and alternative investments, which is redefining wealth management practices [5]

Core Insights - LPL Financial LLC has welcomed financial advisors Stephen Carleton and Tom Niles to its employee advisor channel, Linsco by LPL Financial, where they will launch Paddock and Pine Wealth Partners, managing approximately $330 million in advisory, brokerage, and retirement plan assets [1][12] Group 1: Team Background and Expertise - The team, based in Saratoga Springs, N.Y., has nearly 55 years of combined experience and has collaborated for 10 years, focusing on delivering tailored financial strategies [2] - Carleton specializes in serving high-net-worth individuals and families, while Niles focuses on pre-retirees and wealth growth strategies, providing comprehensive advice on pensions and long-term financial planning [2][3] Group 2: Reasons for Joining LPL Financial - Carleton and Niles sought more autonomy and flexibility in their business operations, prompting their move to LPL Financial's Linsco model [4] - LPL's integrated wealth management platform and robust business resources, including dedicated marketing and specialized service teams, were significant factors in their decision [5][6] Group 3: Advisor Independence and Support - Niles emphasized LPL's considerable size and broad scope, which provide extensive technology and resources to support advisors, aligning with his vision for Paddock and Pine Wealth Partners [6] - Carleton was attracted to LPL's commitment to advisor independence and its focus on aligning client interests with financial goals, avoiding conflicts of interest [7][8] Group 4: LPL Financial Overview - LPL Financial Holdings Inc. is one of the fastest-growing wealth management firms in the U.S., supporting over 29,000 financial advisors and managing approximately $1.9 trillion in brokerage and advisory assets for around 7 million Americans [9][10]

India-based wealth management technology platform Dezerv has raised Rs3.5bn ($39.4m) in a Series C financing round. The company intends to use the new funds to improve the overall client experience and solidify its operational base. The fresh capital infusion has increased the company's total funding to more than Rs8.5bn. The all-primary funding round saw the participation of current investors, with Premji Invest and Accel’s Global Growth Fund jointly leading the round, alongside Elevation Capital and Z ...