demand / volume
“Rates paid to clients on their cash balances are generally impacted by the level of short-term interest rates, as well as competitive industry dynamics and the demand for client cash.”
RJF 10-Q
Confirmed
Asset Management
8 names are moving together; 75% are participating in the current session.
1 observed Confirmed episode
Co-movement
Observed member paths adjusted against SPY. Shading marks the latest observation window.
Members
| TICKER | Company | Sector | Today | Observed activity |
|---|---|---|---|---|
| BAC | Bank of America Corporation | Financial Services | +0.8% | Group member |
| WFC | Wells Fargo & Company | Financial Services | +1.6% | Group member |
| JPM | JP Morgan Chase & Co. | Financial Services | +0.2% | Group member |
| SEIC | SEI Investments Company | Financial Services | +1.2% | 3/3 observed active sessions |
| RJF | Raymond James Financial, Inc. | Financial Services | +1.0% | 3/3 observed active sessions |
| AMP | Ameriprise Financial, Inc. | Financial Services | +1.0% | 3/3 observed active sessions |
| LNC | Lincoln National Corporation | Financial Services | +1.1% | Group member |
| LPLA | LPL Financial Holdings Inc. | Financial Services | +2.0% | 2/3 observed active sessions |
Why we believe this
Cohort
8 namesParticipation
75% this sessionObserved history
6 daily buildsFiling coverage
8/8 membersrestructuring affecting expense
“General and administrative expense decreased $28 million, or 1%, for 2025 compared to the prior year primarily reflecting ongoing benefits from our initiatives to enhance operational efficiency and effectiveness, as well as lower severance expenses, partially offset by higher performance fee compensation, higher volume-related expenses and investments for business growth.”
AMP 10-K
credit / rates affecting interest expense
“Net revenues decreased $14 million primarily due to the impact of incremental interest expense from the $1.5 billion of senior notes issued in September 2025, net of interest income on the reinvested proceeds, as well as the impact of decreases in short-term interest rates.”
RJF 10-Q
This identity theme becomes less useful if activity narrows to one or two names instead of remaining broad across the cohort.
Connected, outside the group
DLX
JPMsupplier · Current intraday read unavailable
Filing receipt · DLX / JPM
“Additionally, on August 6, 2025, we acquired certain assets of JPMorgan Chase Bank’s CheckMatch electronic check conveyance service business for cash payments totaling $…”
JPM · supplier
ASH
JPMcustomer · Not moving with the group now
Filing receipt · ASH / JPM
“Under this program, JP Morgan and its affiliates may purchase certain confirmed receivables directly from suppliers pursuant to the terms of a separate arrangement enter…”
JPM · customer
VRSK
JPMcustomer · Not moving with the group now
Filing receipt · VRSK / JPM
“As of March 31, 2026 and December 31, 2025 , a vast majority of our domestic cash and cash equivalents is with TD Bank, N.A.”
JPM · customer
BILL
JPMcustomer · Moving with the group now · 115 min observed
Filing receipt · BILL / JPM
“As of December 31, 2025, our partners included some of the most trusted brands in the financial services business, including more than 85 of the top 100 accounting firms…”
JPM · customer
GPGI
JPMcustomer · Moving with the group now · 115 min observed
Filing receipt · GPGI / JPM
“The company’s leading position is reinforced by long-standing customer relationships with leading bank issuers like American Express, JPMorgan Chase and Capital One, and…”
JPM · customer
History
2026-07-23 → 2026-07-313 observed active sessions · 75% of active names held across the episode