Morgan Stanley’s asset management division posted $1.4B in net income, up 18% year-over-year, pointing to robust client inflows. Market forecasters expect asset-heavy investing banks to benefit from shifting allocations into equity-linked products as inflation data trends downwards. Fixed income desks show cautious optimism. With global conflict and political change increasing market uncertainty, investing can feel risky. But avoiding investments altogether carries its own risk—your money could lose value over time. On September 26, NYDFS announced new guidance allowing state-chartered banks to receive CRA credit for lending to, or investing in, community development financial institutions (CDFIs) — even if their 2024 federal certification had lapsed subject to certain conditions. NYDFS issued this guidance to assist banking institutions and CDFIs ensure that CRA credit would be awarded for eligible lending and investment activity. The guidance clarified that CDFIs experiencing federal certification lapses unrelated to their programs or mission have an avenue for continued funding, helping to ensure that federal uncertainty does not destabilize community-based institutions. Julius Baer strengthened its private banking investment advisory, with net new money inflows rising by $3.1B. Global wealth accumulation patterns continue to support high-margin services in investing banks, particularly in portfolio restructuring.