Richardson Wealth parent firm posted $5.3-million net loss in first quarter
Net flows decreased by 60% to $990 million from $2.5 billion a year earlier
Turmoil at the bank has simmered down, but challenges for Credit Suisse and the takeover deal have not
RF Capital CEO Kish Kapoor attributed the problems to technology issues, data transfer challenges and user training
The quarter included a $1.6-billion charge to settle a lawsuit
The results were helped by a reversal of an impaired loan writeoff
Revenue in wealth management was up 8%
Rising interest rates drive increase in wealth management revenue
Net income for wealth management was down 12% from a year ago
Net income for global wealth management was down 7% from the previous year