Several factors — the growth of the U.S. economy and asset prices, generational transitions and changing values — are reshaping the wealth management and financial advice sectors. More individuals and families are falling into the high-net-worth (investable assets of over $3 million) and ultra-high-net-worth (assets of over $30 million) than ever before. How are banks positioned to capitalize on this evolving marketplace? On the latest episode of the ABA Banking Journal Podcast, ABA's Mark Benskin — a veteran of the wealth management sector with experience at several banks — discusses:

• The structural shift in the wealth management business, including the rise of Registered Investment Advisors that serve HNW and UNHW clients.
• The mix of services — estate planning, tax planning, asset protection and charitable planning — that clients are seeking from their advisors.
• Evolving revenue models for wealth management and the pursuit of scale.
• The strategic question for banks of building versus "renting" infrastructure.
• How banks are positioned to break down institutional silos that hinder full-service client engagement.

• Learn more about the ABA Wealth and Trust Schools.

In recent years, credit union business lending and the number of credit unions that exceed the statutory cap on member business lending have shot up sharply. What risks do these trends pose to safety and soundness and financial stability? On the latest episode of the ABA Banking Journal Podcast, ABA's Dan Brown and John Vermillion discuss their recent research on the subject. Not only does outsized credit union commercial activity steers these not-for-profit cooperatives away from their statutory mission, it also increases their exposure to an asset class where they — and their regulator — have traditionally lacked experience and expertise.

Sponsor banking, or banking as a service, is a unique opportunity for banks — but it requires strategy, discipline and a laser focus on risk. On the latest episode of the ABA Banking Journal Podcast, Amanda Swoverland, president of Hatch Bank, discusses her bank's strategy in BaaS. Among other topics, Swoverland talks about:

• Hatch Bank's evolution as a sponsor bank focused on embedded lending and card issuance.
• How boards of directors and bank management teams can evaluate strategy for sponsor banking.
• The importance and scope of due diligence with fintech partners.
• A recently announced partnership with a fintech firm that provides private student loans focused on upperclassmen and grad students who are approaching completion of their degrees.
• Her career journey from enterprise risk management in banking through leading compliance for a fintech startup to president of a bank.
• The experiences she brought from fintech into her newest banking role.

• Register for ABA's Risk and Compliance Conference.