Do you want to find the same (if not better) financial success as the “major players”? This means doing the work to make sure that you get the best return on your money as possible.
If you want to get the most out of your money, you need to follow the example of successful investors like Principal Peter L. Briger and make sure that you invest it in the right place. This doesn’t always mean figuring out which stocks or mutual funds to buy into. It can be as simple as ensuring that you’re using the right bank for your accounts. Here are some of the best banks you can use in 2013.
In spite of the troubles the bank has faced publicly over the last few years, this year Bank of America has been named the Best Bank for 2013 by Evercore. This is a sign that BofA is a bank in which you should invest for 2013. The bank’s stock price doubled in 2012 which is usually a warning sign, but top analysts believe that the institution still has room to grow and is worth looking into for people who want to invest in a new bank this year. Evercore is known for showing favor to Wells Fargo, but this year BofA has knocked Wells Fargo down a peg.
According to MSN Money, M&T Bank Corp is the best bank for people to invest in for the 2013 investment year. This is due in part to the fact that this Buffalo, NY based bank has shown a profit every quarter for the last thirty seven consecutive years. This makes it an ideal bank for conservative investors who understand that, in spite of popular news stories, the banking industry is still on shaky ground. Still, this is the only bank that didn’t cut its dividend during the banking crash of 2008.
Unfortunately, Morgan Stanley, arguably one of the biggest names in investment banking, does not seem to be facing such good projections this year. The bank has a (steady but) low income market share which will make it hard for the bank to compete against other “biggies” like JP Morgan and it has been given a terrible credit rating by Moody’s which might block potential investors from using the company to serve as a counter-party. The powers that be at Morgan Stanley are coming up with strategies to counteract the badness but there is a long way to go before the industry will consider them fully recovered.
These are just a few banking tips that you should keep in mind when you are looking for investment banks for 2013. This year promises to be a fantastic investment year—if you follow trustworthy sources and work with the companies that are best poised to serve you well.