By Barron's Advisor Staff
Fridays have been rough trading days for bank, brokerage, and wealth management stocks lately. Last week's declines were linked to investor worries about disruption from artificial intelligence and troubles in private credit. The declines today were more about the impact of war in Iran, which is likely to lead to inflation as oil prices spike, and a terrible U.S. jobs report. Meanwhile, worries about the health of private credit continue to grow.
Among other most-read wealth management articles this week:
Robinhood's pricey new credit card . Robinhood began as a free stock-trading app. Now, it is launching a premium credit card that comes with a bevy of perks and an annual fee of $695. The new platinum card is just one of many other new features that Robinhood unveiled on Tuesday. Taken together, they show how the company is striving to achieve CEO Vlad Tenev's vision of becoming a one-stop shop for customers' every financial need. The company is rolling out new features and services to win affluent investors as well as gain wallet share with existing customers.
Hackers target wealth managers . "ShinyHunters" is the name of a hacking group known for infiltrating corporate systems and attempting to extort victims by threatening to expose sensitive information about clients and internal operations. Wealth management firms Mercer Global Advisors and Beacon Pointe appear to be among its latest victims. Cybersecurity experts advise targeted firms against paying ShinyHunters' ransom, as breached data remains compromised.
How to survive the crypto winter . Investors who bought Bitcoin in the past year have had a rough time of it, despite positive signs derived from the Trump administration's pro-digital-asset approach. Advisors with clients that own crypto should remind them of Bitcoin's history of rebounding after steep declines as well as other benefits. The goal, our columnist writes, is to help clients think long term about their crypto investments and prevent them from selling at a low point.
Iran's impact on investments . As the war in the Middle East rages on, stocks have sold off, oil prices have jumped, gold has surrendered gains, and Treasuries have fallen on inflation fears. Should U.S. investors derisk their portfolios? Buy energy stocks? Or should they sit tight and ride out the volatility? For this week's Barron's Advisor Big Q, we asked advisors what they're telling their clients right now. Wealth management strategists stress the importance of maintaining portfolio diversification and separating short-term headline shocks from long-term economic effects.
Morgan Stanley's big layoffs . Morgan Stanley has been distributing layoff notices to about 3% of its global workforce, or about 2,500 employees, according to a source familiar with the move. It's trimming a few private bankers, but most of the wealth management cuts will be felt in corporate offices. The layoffs were first reported by The Wall Street Journal.
Write to advisor.editors@barrons.com
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March 06, 2026 13:45 ET (18:45 GMT)
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