WealthManagment.com Daily Memo
 
Wealth Management Daily Memo

MARCH 27, 2023

INDUSTRY

First Citizens to Buy SVB After Biggest Bank Failure Since 2008

SVB Private Wealth, with about $16 billion in assets, is part of the First Citizens' "whole bank purchase" of Silicon Valley Bank.

FULL ARTICLE

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REGULATION AND COMPLIANCE

Georgia Advisor Pleads Guilty in $25M in Ponzi Scheme

John Woods pleaded to one count of wire fraud for a Ponzi scheme that stretched over 10 years, according to the DOJ; the fraud also resulted in Oppenheimer & Co. facing a $35 million fine from FINRA arbitrators.

FULL ARTICLE

WHITE PAPER

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REAL ESTATE

11 Takeaways from MSCI Real Assets’ February 2023 U.S. Capital Trends Report

Recent MSCI data shows trouble brewing in the capital markets even before this month’s bank failures.

FULL ARTICLE

INDUSTRY

Bank of America Trims Wealth Management Group Amid Industry Slump

Fewer than 200 staffers were offered different roles in other parts of the company while a handful, including some loan officers, were let go.

FULL ARTICLE

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