AI ROI estimates tend to leave one thing out
The first two articles in this series addressed what banks should measure and how. This final article asks what people often get wrong in calculating AI ROI.
IBKR’s custody pitch to RIAs focuses on low fees, growth potential
Interactive Brokers, also known by its hot ticker symbol of IBKR, shares much more fee information than most custodians, without revealing much in the way of its scale among RIAs. Can it gain greater reach in a competitive channel?
Q3 agency MBS lags targets as home equity, non-QM gain ground
BTIG is predicting mortgage origination volume for loanDepot, PennyMac Financial Services, Rithm, Rocket Cos., and UWM Holdings combined will be 5% lower than the industry consensus for the third quarter.
Alabama bank rejects activists’ ‘unreasonable’ demands
For months, United Bancorporation of Alabama avoided a public clash with two unhappy shareholders. But after the duo demanded seats on the board of directors, the bank finally clapped back.
Why advisors should talk about client ‘health portfolios’
Financial advisors would be wise to treat “health span” like an investment portfolio to better prepare clients to afford and enjoy longer retirements, a researcher said.
FDIC won’t have to return $1.71 billion to SVB creditors
A federal judge found SVB Financial’s management negligently prioritized yield over safety, allowing the Federal Deposit Insurance Corp. to retain the deposits after the bank’s 2023 collapse.
Banks flash ‘exit signals’ to advisors as they push further upstream
Justin Duke’s move from BNY Wealth to Simon Quick Advisors shows how higher fees, rising asset minimums and tighter client constraints are pushing some bank advisors toward RIAs.
Bessent says Treasury ‘not doing QE’ with buybacks
Treasury Secretary Scott Bessent said the agency’s long-dated Treasury bond buybacks are intended to improve liquidity on the long-dated end of the market rather than influence monetary policy.
Block seeks national trust charter to offer crypto custody
The payments fintech announced that it has applied for a national trust bank charter from the OCC for both bitcoin and stablecoin custody.
Don’t let last-minute changes scuttle the CLARITY Act
The section of the bill addressing stablecoin rewards is the product of a hard-won bipartisan compromise. Efforts to reword it would not only create confusion, but would seriously endanger its passage.