Earnings

Displaying 823 results

Topic

Ameriprise makes headway in bank broker market, Cracchiolo says

The firm entered the bank broker business four years ago when it bought Investment Professionals Inc.

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UBS wealth management notches another strong quarter

Meanwhile, the investment bank announced plans to launch a digital wealth manager in the U.S. next year targeting affluent clientele.

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Wirehouse CEOs muse about RIAs and competition

James Gorman of Morgan Stanley and Charlie Scharf of Wells Fargo both took time during their earnings conference calls to share some thoughts about their RIA competitors.

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Schwab posts record earnings as retail trading powers on

Customers added 1.2 million retail brokerage accounts during the third quarter, almost double the number added in the year-ago period.

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Goldman Sachs traders deliver surprise surge

The firm's trading operation posted a 23% increase in revenue, while its consumer and wealth management business pulled in $2.02 billion, up 16% from a year earlier.

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Merrill ramps up adviser training after record revenues in Q3

The new adviser development program is up and running with 750 advisers. Some of the new recruits could be already licensed to sell securities, but don't have a background in financial advice, according to the company.

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Morgan Stanley adds record assets, buys retirement plan firm

The wirehouse made yet another acquisition in the wealth management space last month, this time a retirement plan company with $43 billion in assets.

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First Republic recruiting slows in Q3

After recruiting seven teams of advisers in the first half of the year, the bank added just one team over the summer, executives of the firm said on an earnings call.

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JPMorgan bankers notch record quarter for M&A

Fees from advising on deals almost tripled in the third quarter, crushing analysts’ estimates and helping to push the bank’s net income to $11.7 billion.

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Robinhood tumbles after slowdown warning clouds crypto boom

The online brokerage said that a significant portion of its second-quarter revenue was fueled by virtual currencies, primarily Dogecoin, and predicted it would see lower revenue during the third quarter.

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Envestnet bolsters $315 billion AUM with expanded services

The leading TAMP by assets is racking up the number of advisers on its platform and new accounts are opening at a faster pace than prior quarters, said CEO Bill Crager in an earnings call.

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Head count drops at Blucora’s Avantax, but revenue per adviser rises

Revenue per Avantax adviser for 2020 totaled $111,000, at the low end of the independent brokerage and RIA business for large enterprises.

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LPL drives assets to $1.1 trillion in Q2

The largest independent brokerage was firing on all fronts for the three months that ended in June, including recruiting advisers, bringing in net new assets and completing previously announced deals to purchase advisers.

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AssetMark posts $84 billion in AUM under new CEO

AssetMark reported a 33.8% increase in AUM following a recent pivot to offer products tailored to registered investment advisers.

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Raymond James sees boost to adviser recruiting

The company's success in 2021 in recruiting advisers comes at a delicate time as the financial advice industry tries to figure out the best way to return to the office amid the Covid-19 pandemic.

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UBS wealth management boosts assets as adviser head count slips

UBS in the Americas appears to be focusing on recruiting giant teams of private banking advisers as it continues to see experienced advisers walk to competitors.

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UBS assets and fee income surge in Q2

The wealth management business saw $25 billion of inflows of net new fee-generating assets across all regions and also made $7 billion in net new loans to rich clients in the quarter.

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Wells Fargo Advisors head count sinks 9.8% annually

Wells Fargo & Co. is revamping its wealth management franchise and such changes often lead to a reduction of the number of financial advisers at large enterprises.

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Merrill Lynch adviser head count drops as self-directed investing soars

Merrill Lynch reported a 6% dip in adviser head count and said that 80,000 clients are now using its self-directed investing platform.

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Goldman Sachs advisory revenues skyrocket 83% year over year

The firm's investment banking business, including financial advisory, helped propel second-quarter revenues.