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Citizens Financial Ties Up with SigFig for Digital Investing
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As part of its developing wealth-management platform, Citizens Financial Group, Inc. (CFG - Free Report) announced that it will provide its customers digital investing capabilities, starting next year. For this, the company has partnered with a leading wealth management technology provider, SigFig.
This follows Citizens’ continued series of digital investments to deepen relationship with customers and help them do their banking and investing, per their convenience.
Moreover, this new facility will enable its customers to quickly and easily identify investment strategies that can be funded with an existing bank or brokerage account. It is also expected to provide retirement strategies to customers at different stages of life.
Citizens Financial will integrate this digital investment service with its online banking platform. Further, this new service is expected to complement the tailored, advice-based services that its financial consultants currently provide.
John Bahnken, president of wealth management said, “These platforms also can be lower cost for clients that are comfortable doing some of the work themselves.” He further added, “I expect to continue to invest in things like digital, as well as advisory teams and subject-matter experts.”
Notably, as historically low interest rates continuously put pressure on lending margins, many regional banks have sought to improve technology and expand fee-rich businesses.
In its press release, the company mentioned that once an initial online assessment to determine goals and risk tolerance is complete, customers can utilize a free investment check-up that provides an assessment of their existing investments and specific investment recommendations on their portfolio.
As an alternative, the customers can also select a paid service to directly manage investments, optimize assets upon account opening and maintain investments over time.
Notably, Citizen Financial’s shares have gained nearly 31.3% year to date, significantly outperforming the 19.4% growth for the Zacks categorized Savings & Loan industry. This is probably because of the company’s continued organic growth, along with its focus on revenue and efficiency initiatives.
Currently, Citizens Financial carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the finance space include Farmers Capital Bank Corporation , Carolina Financial Corporation and Morgan Stanley (MS - Free Report) .
Farmers Capital has witnessed an upward earnings estimate revision of 8.3% for the current year in the past 60 days. Also, its share price is up 33.5% year to date. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Carolina also sports a Zacks Rank #1 and witnessed an upward earnings estimate revision of nearly 12.9% for the current year, over the past 60 days. Moreover, its share price is up 48.9% year to date.
Morgan Stanley carries a Zacks Rank #2 (Buy). It has witnessed an upward earnings estimate revision of 6.7% for the current year in the past 60 days and its share price has surged 32.5% year to date.
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Citizens Financial Ties Up with SigFig for Digital Investing
As part of its developing wealth-management platform, Citizens Financial Group, Inc. (CFG - Free Report) announced that it will provide its customers digital investing capabilities, starting next year. For this, the company has partnered with a leading wealth management technology provider, SigFig.
This follows Citizens’ continued series of digital investments to deepen relationship with customers and help them do their banking and investing, per their convenience.
Moreover, this new facility will enable its customers to quickly and easily identify investment strategies that can be funded with an existing bank or brokerage account. It is also expected to provide retirement strategies to customers at different stages of life.
Citizens Financial will integrate this digital investment service with its online banking platform. Further, this new service is expected to complement the tailored, advice-based services that its financial consultants currently provide.
John Bahnken, president of wealth management said, “These platforms also can be lower cost for clients that are comfortable doing some of the work themselves.” He further added, “I expect to continue to invest in things like digital, as well as advisory teams and subject-matter experts.”
Notably, as historically low interest rates continuously put pressure on lending margins, many regional banks have sought to improve technology and expand fee-rich businesses.
In its press release, the company mentioned that once an initial online assessment to determine goals and risk tolerance is complete, customers can utilize a free investment check-up that provides an assessment of their existing investments and specific investment recommendations on their portfolio.
As an alternative, the customers can also select a paid service to directly manage investments, optimize assets upon account opening and maintain investments over time.
Notably, Citizen Financial’s shares have gained nearly 31.3% year to date, significantly outperforming the 19.4% growth for the Zacks categorized Savings & Loan industry. This is probably because of the company’s continued organic growth, along with its focus on revenue and efficiency initiatives.
Currently, Citizens Financial carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the finance space include Farmers Capital Bank Corporation , Carolina Financial Corporation and Morgan Stanley (MS - Free Report) .
Farmers Capital has witnessed an upward earnings estimate revision of 8.3% for the current year in the past 60 days. Also, its share price is up 33.5% year to date. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Carolina also sports a Zacks Rank #1 and witnessed an upward earnings estimate revision of nearly 12.9% for the current year, over the past 60 days. Moreover, its share price is up 48.9% year to date.
Morgan Stanley carries a Zacks Rank #2 (Buy). It has witnessed an upward earnings estimate revision of 6.7% for the current year in the past 60 days and its share price has surged 32.5% year to date.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>.