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.
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.