Feb. 13 at 8:51 PM
Investors punished wealth management stocks this week amid AI concerns. Charles Schwab, LPL Financial, and peers fell after Altruist launched a new AI tax planning tool seen as potentially disruptive.
Precious metals retreated after President Donald Trump nominated Kevin Warsh as Fed chair, though long-term fundamentals remain intact.
Robinhood Robinhood shares dropped nearly 50% from all-time highs due to weak crypto prices and earnings pressure.
Schwab embraces AI, highlighting its minority stake in Wealth. com to streamline estate planning. Morgan Stanley Morgan Stanley rolls out AI tools to handle routine tasks, freeing advisors to focus on clients.
Advisor Nancy Daoud of Ameriprise Financial Services emphasized technology’s impact on asset allocation, alternative investments, and retirement strategies.
$SCHW $HOOD $MS