Venture capital firm General Catalyst has helped launch a new wealth management firm led by former First Republic Bank executive Dave Breslin. The new firm, dubbed Catalytic Wealth Management, has also hired several former First Republic financial advisors. Breslin unveiled the new business in a LinkedIn post. He referred a reporter’s request... Free Registration Welcome to Barron’s Advisor! Our content is free but available only to wealth management professionals. To read this article,...

The Financial Planning Association’s board of directors elected Wealth Enhancement Group’s Paul Brahim as its 2024 president-elect. With more than 19,000 members, the FPA is among the nation’s largest and oldest professional associations for financial advisors. Brahim will begin his term as president-elect on Jan. 1, succeeding incoming 2024... Free Registration Welcome to Barron’s Advisor! Our content is free but available only to wealth management professionals. To read this article, please...

Banks have had an unusually rough year. Just how bad is evident in a new report from S&P Global Market Intelligence. Total deposits across U.S. banks fell 4.8%, or $872 billion, to $17.27 trillion as of June 30, according to S&P Global. The drop was the first in a data set that dates back to 1994. Among the top 15 deposit holders, Charles... Free Registration Welcome to Barron’s Advisor! Our content is free but available only to wealth management professionals. To read this article, please...

UBS said its Global Wealth Management unit brought in $16 billion in net new money, marking its highest second-quarter haul in more than a decade. The Swiss bank also posted Thursday a record $29 billion profit for the second quarter alongside fresh details about its acquisition of longtime rival Credit Suisse. UBS continues to operate Credit Suisse as a separate entity and its results were broken out separately. UBS plans to simplify its legal structures and merge the two businesses in...

Under CEO Peter Mallouk, Creative Planning has steadily grown into one of the nation’s largest registered investment advisory firms, ballooning from less than $100 million in assets in 2004 to $245 billion today. On Monday, the firm said it would buy the former United Capital business from Goldman Sachs in a deal that will pole vault Creative Planning forward in its quest to build a national RIA brand. The former United Capital business, now known as Goldman Sachs Personal Financial...