Schwab and Big Banks Slide as Vanguard’s Altruist Deal Raises AI Threat in Wealth Management
Vanguard’s reported $4B–$4.6B Altruist deal revived fears that AI will disrupt brokerage custody and idle client cash that funds broker profits.
Vanguard’s reported $4B–$4.6B Altruist deal revived fears that AI will disrupt brokerage custody and idle client cash that funds broker profits.
Strong wealth inflows, higher dividend, and $20B buyback program announced.
Morgan Stanley crushed Q1 2026 earnings with a $5.6B profit (+30%) and record $20.6B revenue, beating expectations, driven by strong trading, banking, and client inflows amid market volatility.
Apollo Global limits withdrawals to 5% in Apollo Debt Solutions after 11.2% redemption requests hit private credit funds amid investor anxiety.
Morgan Stanley and Cliffwater limit redemptions on major private credit funds after record withdrawal requests in Q1 2026, signaling investor concerns over liquidity and loan quality in the $1.8T market.
Morgan Stanley (MS) reports stellar Q4 2025 results with debt underwriting revenue jumping 93%, record annual profits, and $122.3B in new wealth assets.