The wealth management business is in a race to engage today’s diverse asset management customers. Top wealth management executive Gunjan Kedia explains what U.S. Bank is doing to better serve women in the marketplace amid sweeping demographic changes.
The American Bankers Association wrote to the Internal Revenue Service last week seeking relief from certain aspects of the new IRS’ application process for obtaining an Employer Identification Number for trusts and estates of descendants.
U.S. birth and marriage rates—and the life expectancy of its young people—are falling. How should banks respond to America’s demographic disaster?
As part of its ongoing actions to implement regulatory relief identified by the decennial Economic Growth and Regulatory Paperwork Reduction Act review, the OCC today proposed several rule changes and sought comments on prospective changes sought by ABA during the EGRPRA feedback process.
In an effort to increase access to capital markets, the Securities and Exchange Commission today proposed updating the test for an “accredited investor” to include individuals’ qualifications based on professional knowledge, experience or certifications, as well as expanding the list of entities that may qualify.
Consumers are less satisfied with their wealth management mobile apps than they are with retail banking or credit card apps, but when wealth firms provide an outstanding mobile experience, clients are more likely to sign up for additional products and services, according to a J.D. Power study released today.
In a comment letter to the Department of Labor today, ABA expressed support for a recent proposal that would modernize retirement disclosures by facilitating the use of electronic delivery for participant notices and disclosures.
The long-anticipated transfer of wealth to Gen-Xers and millennials has begun. How can banks position themselves to succeed with these clients? Insights from a recent ABA survey offer some clues.
Nearly 15% of Americans—more than 34 million people—are serving as caregivers for adults over 50. In November, recognized as National Family Caregiver Month, the ABA Banking Journal Podcast examines how banks can support caregivers in their mission while protecting the privacy and safety of the bank customers receiving care.
With an estimated $68 trillion set to change hands by 2030, a new report released by ABA today delves into how that wealth transfer will affect wealth management practices.