Sanders Morris Harris posts earnings drop

Sanders Morris Harris Group Inc. posted a small drop in first-quarter earnings on an after-tax decline of $1.6 million in the income from its merchant portfolio and its ownership interest in limited partnerships net of minority interests.
MAY 10, 2007
By  Bloomberg
Sanders Morris Harris Group Inc. posted a small drop in first-quarter earnings on an after-tax decline of $1.6 million in the income from its merchant portfolio and its ownership interest in limited partnerships net of minority interests. The Houston-based financial services holding company posted quarter earnings of $2.7 million or $0.11 per share, compared to $2.8 million or $0.14 in the first quarter of 2006. Excluding the tax decline, earnings from continuing operations would have shown a 26% increase. The Asset/Wealth Management Division revenues rose 26% in the first quarter and pretax earnings of $23.7 million, compared to $18.6 million during the year-ago period. After-tax earnings from the company's ownership interests in limited partnerships net of minority interests declined to a loss of $115,000 from a gain of $720,000 during the first quarter of 2006. Furthermore, the company's merchant portfolio posted realized and unrealized after-tax losses of $165,000 during the first quarter of 2007, compared to gains of $605,000 last year. Sanders Harris Morris Group manages more than $13 billion in assets.

Latest News

The 2025 InvestmentNews Awards Excellence Awardees revealed
The 2025 InvestmentNews Awards Excellence Awardees revealed

From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.

Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty
Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty

Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.

Edward Jones joins the crowd to sell more alternative investments
Edward Jones joins the crowd to sell more alternative investments

“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.

Record RIA M&A activity marks strong start to 2025
Record RIA M&A activity marks strong start to 2025

Sellers shift focus: It's not about succession anymore.

IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients
IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients

Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.