US Bancorp venture uses $2.6-trillion running start in bid to become the supermarket-of-fund-supermarkets -- with analysts seeing threat to Pershing and other clearing giants
Using DOL rule as spur, the Minneapolis bank conjoins with hundreds of small IBDs with tantalizing promise of placing them on the same footing as the biggest self-clearing firms
Related Moves
UBS bets its 'wealth' future on ex-Schwabbie Naureen Hassan, a corporate digital A-lister, who analysts give a fighting chance to transcend PaineWebber's ossified culture
Still a $2-billion cash-flow cow, the Swiss bank's 6,000-broker, US-based wirehouse is milking aging broker relationships with aging investors but needs a new kind of human presence, empathy, mindset and smarts to draw in Gen Z.
July 16, 2022 at 1:35 AM
Wealthfront's unlikely tapping of Sheila Bair and Tom Curry signals likely push to gain a bank charter, analysts say
The Redwood City robo-advisor's addition of two renowned former chief banking regulators brings legitimacy and guidance that could lead to a margin-fattening bank charter and help solve the robo-advisor's problem of high client acquisition costs.
