12 Best & Worst Broker-Dealers: Q4 Earnings
One of the wirehouse firms produced a turnaround in profits of almost $800 million, while another reported almost $2.4 billion in losses.
LPL Beats Q4 Estimates, Outlines Outsourcing Plans
LPL Financial said that it was planning to spend $70 million to $75 million through 2014 on outsourcing of back-office and other functions, information technology and related restructuring of its operations.
UBS Reports Loss of $2.1B as Advisors Top $1M in Average Production
Plus, the wealth management unit in the Americas added nearly 30 advisors in the fourth quarter.
Raymond James Boosts Sales, Income; Tops Estimates
The independent broker-dealer improves results from the prior quarter and last year, though its headcount falls from September.
TD Profits Soften as Assets, Margins Improve
Net client inflows topped $15.5 billion in the period ending Dec. 31 as the trading firm beat estimates.
Morgan Stanley at ‘Pivot Point,’ Says CEO, as Firm Tops Earnings Estimates
Gorman adds that he’s comfortable with the current headcount and that the wealth management unit has a pretax profit of 17%.
BofA Profit Off 63% as Wealth Unit Doubles Its Earnings
The wealth unit of Bank of America sees its net margins top 20%, as its advisor headcount dips slightly.
BNY Mellon Boosts Profits 23%: Q4 Earnings
Clearing fees at Pershing unit rise to $294 million in the period and nearly $1.2 billion for 2012
Schwab Meets Expectations: Q4 Earnings 2012
Its Advisor Services unit now has close to $790 billion in client assets as of December 2012.
Wall Street Sees Soaring Start to Q4 Earnings Season
Both banks beat analysts’ expectations by a mile, with GS reporting quarterly EPS of $5.60 versus EPS estimates of $3.78 and JPM reporting EPS of $1.39 versus estimates of $1.22.