ABLE Accounts
In 2014, the Achieving a Better Life Experience (ABLE) Act was signed into law to enable and empower individuals with disabilities to save and invest without jeopardizing other benefits. The law began as a conversation between parents about inequalities their children with disabilities face. It became the first piece of legislation aimed at people with…
Read MoreWealth Among the Generations
America’s wealth is beginning to move from older generations to younger generations. For the sake of this blog, the Baby Boomers make up the older group, while Gen X, Millennials, and Gen Z make up the younger half. The latter approach their financial well-being differently than their parents and grandparents, sparking wealth advisors to reevaluate…
Read MoreBaaS: Banking as a Service
BaaS is a topic receiving more attention and making more headlines than ever before. In the first quarter of the year, two providers made different announcements that perfectly encapsulated the confusion surrounding the subject. Metropolitan Commercial Bank announced it will exit all BaaS relationships, with the process expected to be completed throughout 2024. Later the…
Read MoreEthical/Green Banking
In recent years, society as a whole has become more aware of making sustainable and eco-friendly choices. Banking isn’t the first industry people think about when making environmentally conscious decisions, but it provides funding for the industries that contribute to climate change. Banking is among the largest industries by revenue in the US; therefore, leaders…
Read MoreRetail Banks & Fintechs
As technology advances, everyday services like banking are in a constant state of innovation. The information age has transformed banking in the last several decades, making processes more efficient and less time-consuming. Each generation has its response to digital banking advances; younger generations adapt more quickly, and older generations take time to adjust but are…
Read MoreSME Dissatisfactions with Banking Customer Service
Customer satisfaction is a key foundation of business. Banking clients want to feel satisfied with the relationship and service from the financial institution holding their assets. However, studies show the opposite is the reality. A 2022 study released by J.D. Power showed that half of small and medium-sized businesses are considered financially unhealthy and don’t…
Read MoreOverdraft Study
Since Congress relaunched its initiative to overhaul overdraft protection offerings and the fees charged, many banks and credit unions are announcing changes to their overdraft fees and policies. Knowing this is a significant source of fee income, not to mention the public relations aspect, our team researched and compiled a report to help our clients…
Read More