Let’s dig into the relative performance of Invesco (NYSE: IVZ) and its peers as we unravel the now-completed Q1 custody bank earnings season.

Custody banks safeguard financial assets and provide services like settlement, accounting, and regulatory compliance for institutional investors. Growth opportunities stem from increasing global assets under custody, demand for data analytics, and blockchain technology adoption for settlement efficiency. Challenges include fee pressure from large clients, substantial technology investment requirements, and competition from both traditional players and fintech firms entering the space.

The 16 custody bank stocks we track reported a strong Q1. As a group, revenues beat analysts’ consensus estimates by 2.5%.

Thankfully, share prices of the companies have been resilient as they are up 7.6% on average since the latest earnings results.

Invesco (NYSE: IVZ)

With roots dating back to 1935 when it pioneered the first mutual fund with an objective of capital growth, Invesco (NYSE: IVZ) is a global asset management firm that offers investment solutions across equities, fixed income, alternatives, and multi-asset strategies.

Invesco reported revenues of $1.26 billion, up 14% year on year. This print was in line with analysts’ expectations, but overall, it was a mixed quarter for the company with AUM and EPS in line with analysts’ estimates.

Interestingly, the stock is up 6.1% since reporting and currently trades at $27.04.

Read our full report on Invesco here, it’s free.

Best Q1: Franklin Resources (NYSE: BEN)

Operating under the widely recognized Franklin Templeton brand since 1947, Franklin Resources (NYSE: BEN) is a global investment management organization that offers financial services and solutions to individuals, institutions, and wealth advisors worldwide.

Franklin Resources reported revenues of $2.29 billion, up 8.7% year on year, outperforming analysts’ expectations by 11.8%. The business had an incredible quarter with a beat of analysts’ EPS and AUM estimates.

The market seems happy with the results as the stock is up 23.6% since reporting. It currently trades at $34.09.

Is now the time to buy Franklin Resources? Access our full analysis of the earnings results here, it’s free.

Slowest Q1: Hamilton Lane (NASDAQ: HLNE)

With over $100 billion in assets under management and supervision, Hamilton Lane (NASDAQ: HLNE) is an investment management firm that specializes in private markets, offering advisory services and fund solutions to institutional and private wealth investors.

Hamilton Lane reported revenues of $193.6 million, down 2.2% year on year, falling short of analysts’ expectations by 3.4%. It was a slower quarter, leaving some shareholders looking for more.

Hamilton Lane delivered the slowest revenue growth in the group. As expected, the stock is down 7.3% since the results and currently trades at $78.86.

Read our full analysis of Hamilton Lane’s results here.

Voya Financial (NYSE: VOYA)

Originally spun off from Dutch financial giant ING in 2013 and rebranded with a name suggesting "voyage," Voya Financial (NYSE: VOYA) provides workplace benefits and savings solutions to U.S. employers, helping their employees achieve better financial outcomes through retirement plans and insurance products.

Voya Financial reported revenues of $1.93 billion, up 2.3% year on year. This print surpassed analysts’ expectations by 15.4%. It was a stunning quarter as it also put up a beat of analysts’ EPS estimates.

Voya Financial pulled off the biggest analyst estimate beat among its peers. The stock is up 13.6% since reporting and currently trades at $94.39.

Read our full, actionable report on Voya Financial here, it’s free.

BNY (NYSE: BNY)

Tracing its roots back to 1784 when it was founded by Alexander Hamilton, BNY (NYSE: BNY) is a global financial institution that provides asset servicing, wealth management, and investment services to institutions, corporations, and high-net-worth individuals.

BNY reported revenues of $5.41 billion, up 13.8% year on year. This number beat analysts’ expectations by 4.3%. Overall, it was an exceptional quarter as it also recorded a beat of analysts’ EPS estimates.

The stock is up 11.4% since reporting and currently trades at $147.00.

Read our full, actionable report on BNY here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand-wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

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