Investors Cap Grows Sales 20% but Reports Loss
The IBD says expenses rose due to higher commissions and fees, as well as legal expenses tied to its merger with Nicholas Schorsch’s RCS Capital.
UBS Turns Profits Around, Beats Estimates
UBS says its advisors in the Americas have yearly fees & commissions of $1 million on average.
Raymond James Posts Strong Quarterly Results
Advisor fees and commissions jump 10% from last year and 6% from the prior quarter, though its number of reps stays flat.
TD Ameritrade Posts 30% Increase in Q1 Earnings on Record Revenue
Company records $14.5 billion in net new client assets for first quarter of FY 2014; EPS up 30% year over year.
Schwab Earnings Up 51% in Q4 on Record $2.25 Trillion in Assets
Net income of $1.1 billion for full year is most since 2008; RIAs managing $946 billion in assets.
BofA Profits Climb 370% in Q4
Merrill advisor force shrinks to less than 14,000 reps, but production tops $1 million a year.
Legal Woes Drag JPMorgan Profits Down 7%; Wells Net Jumps 10%
Though both banks report weaker sales in Q4, JPMorgan faced some $1 billion in legal and other expenses in the fourth quarter.
Uncertainty Prevails in Bank Sector as Q4 Earnings Season Kicks Off
Some analysts expect the major banks to have "sluggish" earnings, but others see the market momentum as working in their favor.