LPL Adds 223 Advisors as Profits Drop 13%
In a repeat from last quarter, LPL Financial reported that quarterly profits were down although revenues were up.
UBS Wealth Results Up in Americas; Down Worldwide After Facebook Flop
Wealth Management-Americas posts a 28% jump in profits as net inflows to advisors remain stable
Ameriprise Loses Profits but Adds Advisors, Assets
The firm now has more than 9,800 financial advisors in its combined franchisee and employee operations.
Raymond James Posts First Post-Acquisition Results
Its global advisor force is close to 6,400 with more than 900 Morgan Keegan reps on board.
Morgan Stanley Profit Off 53% as MSSB Loses 1,053 Advisors
The Global Wealth Management Group, which includes the MSSB joint venture, reported a pretax profit margin of 12%, versus 11% in the prior quarter and 9% a year ago.
BofA Nets $2.5 Billion; Wealth Unit Up 5.5%
The wealth management unit that includes Merrill Lynch reported Q2 net income of $543 million versus $513 million a year ago, up 5.5%.
BNY Mellon Profits Off 37% on Lawsuit Costs, but Pershing Is a Bright Spot
Bank of New York Mellon's Q2 earnings were down due to costs from an investor lawsuit, but the clearing services unit that includes Pershing Advisor Services helped slightly offset that profit loss.
Q2 Earnings Kickoff: JPMorgan Down, Wells Fargo Up and Markets Heave Sigh of Relief
Friday the 13th was lucky for JPMorgan and Wells Fargo as both banks’ stocks rose higher despite dark news that preceded their Q2 earnings reports.