Pre-tax earnings for A.G. Edwards in the quarter ending November 30, 2006, have risen nearly 65 percent to $124 million vs. the same period a year earlier. Its number of financial consultants has declined slightly in the past 12 months to about 6,600.
"Our third-quarter performance maintained the year-over-year trends of steady client-asset growth and solid earnings growth," says Robert L. Bagby, chairman and CEO.
"Along with these results, we are pleased to announce the Office of Thrift Supervision has approved the expansion of powers of A.G. Edwards Trust Company FSB, which will be able to accept clients' cash deposits from our FDIC-insured bank deposit program. We believe this program and other recent initiatives reinforce our commitment to enhance the value we provide our clients while developing new revenue streams to enhance value for our shareholders."
Janet Levaux is the managing editor of Research; reach her at firstname.lastname@example.org.