We get to build that relationship, start to earn some of their trust. That trust then pays off over time and over the investing journey of that client. There are certainly a lot of demographics that sit behind that as well, and a lot of movement every year from the ERISA world to the non-ERISA world, and from workplace into either taxable or non-taxable wealth. The numbers move up and down a bit every year, but it’s short of $1 trillion that moves from one to the other. That’s where, in just a plain-va ...

🚨 BREAKING: AI FEARS PUMMEL WEALTH MANAGEMENT STOCKS: SCHWAB DROPS 7%, RAYMOND JAMES CRASHES 9%The selloff was triggered by fintech startup Altruist launching an AI powered tax planning tool that automates personalized strategies.$SCHW fell 7.4%, @RaymondJames -8.8% (worst day since March 2020), LPL Financial -8.3%, @MorganStanley -4%, Ameriprise -7%.@CharlesSchwab CEO Rick Wurster called the selloff "disappointing and surprising," arguing AI will enhance advisors, not replace them.At $95.50, $SCHW now trad ...

Shares of wealth management stocks tumbled after AI startup Altruist released a tax planning tool, Hazel. Altruist CEO Jason Wenk explains what makes his company’s tools different from traditional software. He joins Caroline Hyde and Ed Ludlow on “Bloomberg Tech.” -------- Like this video? Subscribe to Bloomberg Technology on YouTube: https://www.youtube.com/channel/UCrM7B7SL_g1edFOnmj-SDKg Watch the latest full episodes of "Bloomberg Technology" with Caroline Hyde and Ed Ludlow here: https://www.youtube.co ...

Core Insights - Artificial intelligence (AI) is transitioning from a growth driver for technology stocks to a disruptor in traditional financial services, impacting market expectations for wealth management firms globally [1] - Major wealth management and brokerage stocks have experienced significant declines as investors assess the implications of new AI tools that automate tasks previously performed by human advisors [1] Stock Performance - The Charles Schwab Corp. (SCHW) has decreased by 10.9%, LPL Financial Holdings Inc. (LPLA) by 13.8%, and Raymond James Financial Inc. (RJF) by 8.8% in recent trading days [2] - Other firms such as Lazard and Stifel Financial have also seen declines of nearly 4% and 4.9%, respectively, while banks with substantial wealth management exposure, including JPMorgan Chase (JPM), Bank of America (BAC), and Wells Fargo, have dropped more than 4% [2] Trigger for Stock Selloff - The stock market reaction was initiated by the launch of an AI-powered tax planning tool by U.S. fintech startup Altruist, which is integrated into its Hazel platform [3] - This tool can process client data to generate personalized tax strategies and financial insights that previously required extensive manual work from advisors [3] Investor Concerns - Investors view the AI tool as a potential threat to traditional revenue streams in wealth advisory, particularly in fee-based services like tax planning and portfolio strategy [4] - The ability to commoditize and scale complex financial advice rapidly raises concerns about the erosion of fee margins and business models for existing firms [4] Shift in Market Focus - The market's focus has shifted from beneficiaries of the AI boom to those who might be displaced by it, affecting asset management and private capital firms [5][6] - Executives from firms like Blackstone and Apollo Global Management have attempted to reassure stakeholders that AI is unlikely to undermine their businesses, but skepticism remains prevalent [6] Reassessment of Risks - The initial optimism surrounding AI is evolving into a reassessment of risks, as investors consider the potential for AI to compress margins and alter business models [7] - The recent selloff in wealth management stocks signifies a turning point in how investors perceive AI risk within financial services [8] Implications for Wealth Management - The declines in shares of firms like Schwab, LPL Financial, and Raymond James reflect fears that AI could diminish advisory fees and disrupt established operating models [8][9] - While it is too early to label AI as an existential threat to human-led wealth advice, the rapid advancement of tools like Altruist's Hazel platform necessitates a reevaluation of defensible areas within the value chain [10] - Success for incumbents will likely hinge on the effective integration of AI into client service, compliance, and portfolio construction, where trust and judgment remain essential [10]

It's shaping up to be another tough week for the tech sector. US stocks slid lower on Thursday, with the S&P 500 on track to notch its third straight day of losses as investors continued to dump tech and software holdings and rotate into other areas of the market.Major indexes were up earlier in the day, but tumbled more than 1% around noon. The iShares Expanded Tech-Software Sector ETF, which recently entered a bear market and endured brutal selling last week, dropped another 3%. Here's where major index ...

Group 1: Major Deals and Mergers - Cerity Partners has agreed to merge with Verus Investments, which has $1.2 trillion in institutional advisory assets, potentially making it one of the largest deals of the year [1] Group 2: Company Expansions - The Bahnsen Group has opened its 11th office in Silicon Valley, hiring financial advisor Sean Buxton to lead the new location, which is its first physical office in Northern California [3][4] - The Bahnsen Group has achieved a 31% organic annual growth rate since its launch in April 2015 [3] - Savvy Advisors has acquired the Colorado Wealth Group, which has approximately $300 million in assets under management, contributing to Savvy's growth rate of 4.5x over the past year, with total AUM nearing $5 billion [7]

Core Viewpoint - The artificial intelligence (AI) landscape is becoming increasingly volatile, shifting from a broad market uplift to specific stock declines, particularly affecting technology and related sectors [1][2]. Group 1: Market Dynamics - Enthusiasm for AI has driven a bull market in the U.S., particularly benefiting technology companies and those involved in data center infrastructure [2]. - Concerns regarding AI's disruptive potential are causing investors to reassess valuations in various industries, including software and wealth management [3]. - Major companies like Amazon and Microsoft are facing pressure on their share prices due to scrutiny over their significant AI capital expenditures [4]. Group 2: Stock Performance - The S&P 500 software and services index has seen a decline of 15% since the end of January 2026, influenced by AI-related news [4]. - Shares of U.S. brokerages and insurance companies have dropped significantly, with firms like LPL Financial and Charles Schwab each falling by at least 7% following the introduction of AI features by competitors [5]. - Microsoft shares are down 16% and Amazon over 11% this year, reflecting concerns about their high capital spending on AI [7]. Group 3: Investment Opportunities - Some investors view the current market as a buying opportunity, with the forward price-to-earnings ratio for the software and services index falling to 22.7 times, the lowest in nearly three years [9]. - JPMorgan equity strategists recommend increasing exposure to higher-quality, "AI-resilient" software companies, suggesting a potential rebound in the market [9]. - Economic "moats" are highlighted as a means for investors to identify strong companies amidst the volatility, as indiscriminate selling creates investable opportunities [9]. Group 4: Future Outlook - The S&P 500 is projected to see earnings rise over 14% in 2026, with expectations of further interest rate easing by the Federal Reserve [11]. - However, AI-driven volatility is complicating stock selection, with S&P 500 constituents that are down averaging a 10.6% decline, compared to a 5.9% decline for the same period last year [12].

摩根士丹利表示，近期欧洲财富管理公司人工智能相关的抛售潮似乎有些过度，这些公司将能够利用人 工智能技术提高生产力，并特别提到Fineco是人工智能的潜在受益者之一。 分析师补充说，对于瑞银（"低配"评级）和宝盛（"低配"评级）而言，人工智能新闻导致股价走弱 还"为时尚早"，因为"人情味"对于客户关系管理仍然至关重要，尤其对于高净值客户而言。 责任编辑：李桐 分析师Marina Massuti和Giulia Aurora Miotto表示，人工智能将通过把"日常客户接待和行政任务"自动 化，帮助财富管理机构在不使用额外资源的情况下接触到更多客户，包括资产没那么多的客户。 分析师补充说，对于瑞银（"低配"评级）和宝盛（"低配"评级）而言，人工智能新闻导致股价走弱 还"为时尚早"，因为"人情味"对于客户关系管理仍然至关重要，尤其对于高净值客户而言。 他们表示，市场反应体现出投资者日益担忧人工智能工具对金融咨询费用和竞争的影响，Fineco（"超 配"评级）有望获益于人工智能，股价波动过大，该银行目前对技术、专有数据和"一站式"服务的运 用。 责任编辑：李桐 分析师Marina Massuti和Giulia Auro ...

Morgan Stanley Wealth Chief Jed Finn Explains the Company's 3-Part AI Strategy - 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.---# Morgan Stanley Wealth Management Chief Jed Finn Explains the Company's 3-Part AI Strategy## The head of the co ...

4Q25 IFS earnings presentation is.com.pe 2025 k ey messages 1 3 Solid performance across businesses +49 % YoY FY25 net profit 1,943 FY25 Net income IFS S/ mn 4 Strengthening primary banking relationships +11% +14% YoY retail primary banking customers 5 Insurance delivering solid double -digit growth + YoY written Higher -yielding loans continue positive trend +8 % YoY Improving risk - adjusted NIM 2.3 % CoR banking FY25 3.7 % FY25 Risk-adjusted NIM 3.1% Cost of funds FY25 61 premiums % WM continues to deliv ...