RJ and Makay

The wealth management industry is alive and well, and for many banks, wealth group results provide the heavy lifting as a percentage of total revenue.  First-quarter earnings at Wall Street firms with large advisor forces show that after two years of financial turmoil, the four major wirehouses have righted themselves and are poised to continue impressive growth.

UBS Wealth Management Americas, the U.S. retail arm of Swiss banking giant UBS AG, took in 8.4 billion in net new money the first quarter, compared with outflows of about $3 billion in the year ago period.