Results for "earnings"

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Focus Financial sees brisk activity in the M&A market for RIAs

May 9, 2019

Focus Financial Partners continues to see plenty of deal activity in the RIA space, reporting Thursday that it had 24 transactions that either closed or were pending so far in 2019. Focus, which became a publicly traded company last year, narrrowed...

LPL's recruiting starts the year where it left off in 2018

May 3, 2019

LPL Financial in the first quarter picked up where it left off in 2018, reporting after the market close Thursday that it added $7.1 billion in recruited asssets in the first three months of the year. That's more than one quarter of LPL's total...

UBS loses 166 advisers in its Americas unit over the past year

April 25, 2019

UBS lost 60 advisers in the first quarter compared with the previous quarter, pushing the total drop in adviser headcount over the past 12 months to 166, a 2.4% decline, the company reported Thursday. The firm's headcount, 6,790 at the end of...

UBS says wealthy clients add $22 billion in Q1

April 25, 2019

Rich Asians came to the rescue of UBS Group in the first quarter after CEO Sergio Ermotti's dire outlook on market conditions sent investors into shock and investment banking revenue plummeted. Wealthy clients in the Asia-Pacific region accounted...

TD Ameritrade cut marketing because 'fish weren't biting,' CEO says

April 24, 2019

TD Ameritrade Holding Corp. trimmed digital advertising spending because of a lack of interest from retail investors, according to chief executive Tim Hockey. The online broker and wealth manager keeps a base level of spending and needs to see...

FPA butts heads with Michael Kitces over $8 million in 'missing' funds

March 18, 2019

The Financial Planning Association was forced into scramble mode Friday after a blog post from Michael Kitces alleged that the FPA was responsible for nearly $8 million worth of "missing" revenue over the past decade. Mr. Kitces, partner and...

Fidelity profit hits record even as assets fall

February 21, 2019

Fidelity Investments posted record revenue and operating income in 2018 even as assets under management fell for the first time in seven years. The mutual fund giant reported outflows from its actively managed stock funds — once its most well-known...

Focus Financial rides RIA consolidation to 37 percent annual revenue growth

February 21, 2019

Seven months after taking Focus Financial Partners (FOCS) public, the chairman and chief executive of the RIA aggregator, Rudy Adolf, is singing the praises of the public equity markets. "The IPO is creating permanent capital to invest in our...

Q4 revenue strong at IBDs, online brokers despite market declines

February 13, 2019

Independent broker-dealers and retail brokerages were able to generate good revenue during the final quarter of 2018 despite the significant drops in the market, according to Moody's Investors Service. The market turbulence in December played...

Ameriprise reports higher fourth-quarter earnings despite market drop

January 31, 2019

Despite December's sinking stock market, Ameriprise Financial Inc. reported fourth quarter 2018 net income of $539 million, or $3.76 per diluted share, up from $177 million, or $1.15 a share, in the same period a year ago. Net revenue was nearly...

UBS saw decline in new client money in fourth quarter

January 22, 2019

As the market churned in the fourth quarter, UBS Group said on Tuesday that the amount of net new money in its wealth management business in the Americas declined by $3.6 billion in the final quarter of last year when compared with the same...

Morgan Stanley wealth management revenue falls 6% in fourth quarter

January 17, 2019

As the broad market churned and fell in the last three months of 2018, Morgan Stanley's wealth management group saw net revenue fall to $4.14 billion, a 6% decline from the same three months a year ago. In its earnings release, the company said...

BlackRock's assets fall below $6 trillion amid market turmoil

January 16, 2019

The brutal stock market took its toll on BlackRock Inc. in the fourth quarter as institutions withdrew money from the company, pushing assets down from their record level. The world's largest asset manager reported assets under management declined...

Big banks' CEOs face reckoning after stock sell-off

January 10, 2019

Sell first, ask questions later. That's been investors' approach to Wall Street banks of late, and it poses a challenge for the companies as they report fourth-quarter earnings next week. Bank chiefs' bullish views and near-record profits in...

Focus Financial Partners not afraid of market volatility

November 13, 2018

Stock market volatility is a plus for the Focus Financial Partners (FOCS) business model, according to chairman and CEO Rudy Adolf. "Volatility is actually a good thing because it shows the value of prudent financial advice," Mr. Adolf said...

LPL adds 125 advisers in third quarter

October 26, 2018

LPL Financial added 125 advisers in the quarter that ended Sept. 30, compared with a net loss of 18 advisers in the prior quarter and a loss of three advisers in the same quarter a year ago. In its earnings report, the company reported combined...

UBS CEO promises to boost wealth management profits

October 25, 2018

As UBS Group reported strong third-quarter results, CEO Sergio Ermotti pledged to drive wealth management profit higher and cut costs as he seeks to revive the bank's shares. The bank's net income for the third-quarter period beat the highest...

The market doesn't care about positive earnings

October 24, 2018

A quarter of the way through earnings season, the raw numbers look strong. The market doesn't care. You can see the apathy in the S&P 500, which fell 3.1%Wednesday, extending its October rout to 8.8%, making it the worst month since February...

Raymond James' growing adviser workforce pushes brokerage unit to record year

October 24, 2018

A record number of financial advisers helped push Raymond James Financial's Private Client Group to record revenues and profits, the company reported. The adviser ranks climbed to 7,813 at the end of the fiscal year ended Sept. 30, representing...

America's student loan debt crisis is about to worsen

October 17, 2018

While Wall Street and President Donald J. Trump tout news of a booming stock market and low unemployment, college students may be quick to roll their eyes. The improved economy has yet to result in higher wages for graduates already struggling...

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