The “rogue” trading loss and departure of CEO Oswald Grubel doesn’t seem to have driven clients away from UBS in the third quarter. In fact, despite the CHF 1.8 billion trading loss recorded in September, the firm as a whole turned a pretax profit...
Raymond James Financial posted flat earnings for the fiscal fourth quarter. Overall, the firm’s net income was down 0.2 percent from the year-ago quarter to $68.9 million, while net revenue increased to $817.8 million, up 9 percent from last year...
Morgan Stanley’s global wealth management group finally raised its pre-tax profit margins in the third quarter, which climbed to 11 percent from 9 percent. Morgan CEO James Gorman has been talking about raising margins for many quarters, without...
Bank of America’s earnings shot up to $6.2 billion in the third quarter, versus a net loss of $7.3 billion in the year ago period. Revenue was up 6 percent to $28.7 billion...
What a difference three months can make. Summer market volatility took its toll on Charles Schwab Corp.’s third-quarter results, with sharply higher trading revenue being offset by flat asset management fees. Schwab today said its trading revenu...
One of the more interesting sessions at last week’s Fusion Advisor Network conference in Las Vegas focused on “Creating Profitable Client Relationships.” This panel discussion featured successful advisors Kathy Fish of Fish and Associates, Eric...
Wells Fargo’s wealth brokerage and retirement businesses reported third quarter income of $291 million, up 14 percent versus the year ago quarter, while revenue for the division was down 1 percent from the year ago quarter. Revenues declined on...