Turnkey Asset Management
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BNY Mellon Boosts Q2 Earnings on Lower Clearing Income
By Janet LevauxThe Bank of New York Mellon reported on July 20, quarterly income from continuing operations of $668 million, or $0.55 per share, compared with $267 million, or $0.23 per share, in the second quarter of 2009.
July 16, 2010
BofA Profits Fall in Q2, but Merrill Boosts Advisor Headcount, Fees, and IncomeBank of America, the parent company of Merrill Lynch, reported profits of $3.1 billion, or $0.27 per share, on $29.2 billion of revenues in the second quarter of 2010, down from Q2 in 2009.
July 16, 2010
Schwab Improves RIA Assets on Flat Profits in Q2Charles Schwab said it had net income of $205 million, or $0.17 cents a share, for the second quarter of 2010, flat vs. the second quarter of 2009 but up from $6 million for the first quarter of 2010.
July 15, 2010
JPMorgan Beats Estimates on Mixed Asset DataJPMorgan Chase on Thursday, July 15, reported earnings per share of $1.09 for the second quarter vs. $0.28 in the same year-ago period, sharply topping analysts' expectations of $0.70.
July 12, 2010
Morgan Stanley Attracts Seven Advisors from RivalsThe new Morgan Stanley Smith Barney FAs may bring over close to $5 million in yearly commissions and fees and nearly $560 million in client assets from UBS and Charles Schwab.
July 12, 2010
Morgan Stanley Hires Seven Advisors From RivalsMorgan Stanley Smith Barney (MSSB ) has hired six financial advisers from UBS and one from Charles Schwab, a spokesperson confirmed Monday, July 12.
July 11, 2010
Scorpio Partnership Study: Rich Have $10 Trillion in Untapped AssetsAccording to a study released July 8 by the consultant firm Scorpio Partnership, the assets of the high-net-worth exceed what is currently under management, leaving approximately $10 trillion in realistically investable assets on the table.
July 06, 2010
Forward Management Study: Active Asset Allocation Is a Prudent StrategyIn a new white paper by Forward Management that challenges traditional portfolio construction, the company argues that the traditional "set-it-and-forget-it" approach to asset allocation is too passive.