Major financial institutions reported mixed fourth-quarter earnings. Bank of America saw record income in its wealth unit, while Wells Fargo’s stock fell 5%. Despite misses, executives are focused on growing wealth management segments. Wells Fargo attributed some shortcomings to a $1.95 trillion asset cap removed by the Federal Reserve in June 2025. Bank of America’s wealth management unit reported a 20% increase in net income year over year. JPMorgan’s asset and wealth management unit performed strongly, with assets under management climbing 18% year over year. Wealthfront’s first earnings report showed a slowing in asset flows last month, leading to a 14% stock tumble, but net income for the quarter was up 3% year over year.

Read more at Yahoo Finance: Wall Street Reports a Mixed Earnings Bag in Q4