Hanover’s Post

🛑 If your goal is to cross-sell while making less and having no say over how you serve your clients, #BofA is a good fit for you. 💼 If you want to do best by your clients, receive no sales quotas, keep more of your money, AND be in the driver's seat, go #independent. 🚀 We help #independent #businessowners execute their vision. #WhyIAA #financialadvisors #advisors #rias #wealthmanagement #banks  #independence https://bit.ly/3ItxvXn

🏦💸 Diving into a Finance Revolution: Uncover the intriguing story of PNC's bold move to transcend traditional limits. In a groundbreaking article, explore the compelling reasons behind why this #financial powerhouse is no longer content with the regional tag. From redefining its identity to embracing a broader vision, this shift is set to reshape the #industry landscape. Don't miss out on the #insights that could redefine your perspective on banking #innovation and the #future of finance. #FinanceInnovation #Banking #Transformation #IndustryDisruption #FinanceInsights #financialadvisor #wealthmanagement Signature Bank, First Republic, Wells Fargo, Wells Fargo Advisors, Goldman Sachs, Piper Sandler, RBC, RBC Wealth Management, RBC Capital Markets, Bank of America, JPMorgan Chase & Co., J.P. Morgan, Federal Deposit Insurance Corporation (FDIC), BBVA, M&T Bank, Read more: Yahoo Finance, David Hollerith https://lnkd.in/epMBARkF

💥Banking - mixed news in the press. Yesterday was news from Barclays that they plan to distribute as much as £9bn to shareholders over the next 3 years. During the week was news of 'ahead of expectation' profits from NatWest Group and the appointment of the new CEO. They have benefited from rising interest rates and the increasing difference between interest charged and interest paid. Metro Bank (UK) was in the press for missing it's planned growth in the north for which it was given £70m. It had been given £120m to create 300 jobs and open 15 new sites by the end of next year; however, this was a watered down version of the original plan. Four years ago it had to return £50m of the initial £120m. It currently has just 97 employees in the north. They did announce a new store in Chester which is reported to be creating 25 jobs. Interestingly the money given to Metro Bank was from a pot created by funds from RBS (now Natwest). It was distributed by the Banking Competition Remedies which has now been disbanded. Close Brothers appear to be in for a rough ride. Their share price had been falling based on a report by the FCA in to commissions on car finance. The expected dividend yield had hit 15% until the bank announced dividends were suspended. The share price has fallen over 50% in a week. They do expect to report £94m of adjusted operating profit in H1. The good news seem to mostly come from the benefit created by rising interest rates which has allowed lower rates to be paid to savers and higher rates to be charged to borrowers. This is a bone of contention for many but customers are willing to put up with it. All other businesses try to increase margins by getting better deals from suppliers and increasing returns from customers. #banking #business #finance

Spotlight On: Daniel R. Sheehan, President, Vista Bank 4 min read December 2023 — In an interview with #Invest:, Daniel Sheehan, president of Vista Bancshares, discussed the bank’s recent successes, key industry trends, and future strategies. He highlighted the #bank’s growth amid industry challenges, opportunities arising from capital migration, and the bank’s unique position in #PalmBeach County. READ MORE: https://lnkd.in/efWFZN-i

Portfolio ARM; Market Intelligence, VOE Tools; Bank of England & RESPA; CFPB Ruling Interview #banking #banks #banco #banca #banque #finance #finanzas #finanza

Markets: ANZ, Suncorp Bank deal could add 5pc to group profits, but integration risks around IT systems, etc, ANZ has faced some heat around slow turnaround times on mortgage apps so under spotlight spoke to Nathan Zaia, plus the notorious Westpac St.George Bank integration did not cover itself in glory, + Japan's Mitsui takes stake in Mirvac's 55 Pitt St, ahead US inflation & French elections sees democracies and markets go at it again https://lnkd.in/gTBTKCbN

**Toronto-Dominion Bank (TD) Exceeds Expectations with Strong Performance in Capital-Markets Division** 📈💰 In a stunning display of financial strength, Toronto-Dominion Bank (TD) has outperformed analyst expectations with its remarkable performance in the capital-markets division. This accomplishment has resulted in adjusted earnings of C$2.04 per share for the fiscal second quarter, surpassing the average estimate of C$1.85. 🏛️📊 As Canada's second-largest lender, TD has experienced a significant boost in net income from its combined capital-markets unit. This achievement highlights the bank's ability to navigate through challenging market conditions and emerge victorious. The exceptional results further solidify TD's position as a top player in the industry. 🌟⚡ Investors who have chosen to include TD in their Health Savings Account (HSA) portfolios should be elated with this outstanding performance. TD's continued success showcases the potential for significant growth and profitability within the healthcare sector. ✨🏥 As an investment advisor dedicated to helping investors grow their HSA accounts, I strongly encourage everyone to take notice of TD's exceptional performance. Don't let the fear of missing out hold you back from potentially maximizing your returns. Act now and ensure that your HSA is optimized to secure your financial future. 💪🚀 #hsa #investing #healthcare #health #family #wellness

BREAKING NEWS: The big four bank NAB has revealed that it will welcome a new Group CEO on 2 April. CEO Ross McEwan is to retire from executive roles and Andrew Irvine will step up to take on the role as group CEO. Find out more on The Adviser Magazine: #Banking #bank #finance #appointment #CEO #moversandshakers

The ascendancy of People First Bank. The new name on the block is by no means a new kid on the block. Heritage Bank have a building society history dating back practically forever. Combined with the sober, respectful and spiritual legacy of People’s Choice Credit Union, People First are on a winner. Only a few banks will be around in the long run and the successor to People First Bank may well be one of them. Last but not least it is plain this mutual banking alliance means business. Peter Lock, the experienced ex-Westpac leader long ago recruited to lead Heritage into a banking wonderland is giving everything doable and much else besides a red hot go. Lock is a clued-in and disciplined operator. Moreover, the former Heritage CEO is an effective communicator, and always a pleasure to have a yarn mate. Steve Laidlaw, who runs the Adelaide end of the show will slide into Peter Lock’s place at the end of August. Like Lock, Laidlaw is a respected and proven leader. There is a tremendous amount of work to be done to integrate the two banks. By the sound of things People First Bank have all the pressing and priority matters under control and an abundance of other work to consider. Harsh truth is most bank mergers deliver little by way of long term value. At this early stage the People First Bank merged entity looks well-placed to turn out to be an exception. https://lnkd.in/gSu2Gjvd

Like a lot of Australian mum and dad investors, I own a handful of Commonwealth Bank shares. Mine mostly granted when I worked there for a few years managing a team of bankers. After some wobbles, when its C-suite became dominated by former management consultants who didn’t understand, it’s now a well run bank, with good people and very good core systems. Some friends I respect work there. It dominates #housing #mortgage banking in Australia. And is steadily chipping away at the #businessbanking franchise occupied by NAB and ANZ. But…. Where’s its growth trajectory moving forward? As John Addis writes today in Intelligent Investor (https://lnkd.in/gi9BNMvC): “Currently, the bank accounts for about 10% of the ASX 200 and trades on a price-to-earnings multiple that sits somewhere between Google's and Microsoft's. On a PER basis, it's the most expensive bank in the developed world. That's mad. The Magnificent Seven stocks are growing like topsy and have a great story to tell. In comparison, Commonwealth looks like a dying milk bar about to be turned into a car yard. I wish I could explain why but it's beyond me. When irrational expectations meet ludicrous valuations, seeking explanations misses the point—which is to stay away.” Like a lot of mums and dads out there - despite this advice - I’ll probably just sit on those shares. But maybe I won’t. Open question: where’s the growth in traditional banking? #financialservices