LPL Financial reported net income of $49 million, or 43 cents a share for the first quarter of 2011, a 92 percent jump from the first quarter of 2010. Revenues grew 17.5 percent from the year ago quarter to $873.9 million. Nearly 70 percent of...
Ameriprise Financial (NYSE: AMP) plans to sell its independent broker/dealer unit Securities America, according to the company’s first quarter earnings report released today. Meanwhile, the firm is still in the process of finalizing a...
In a disappointing quarter for Morgan Stanley, the firm’s global wealth management group was, once again, a bright spot, with revenue, earnings and client assets up, though advisor headcount and pre-tax profit margins were down. Morgan’...
Raymond James Financial’s (NYSE: RJF) Private Client Group led the firm’s growth in the second quarter, posting a record $275 billion in client assets under administration, up from assets of $242 billion a year ago and $262 billion in...
Charles Schwab’s new advisor “franchisee” program, which was announced in February and will be rolled out at the end of this year, aims to hire financial advisors with entrepreneurial drive, but not too much entrepreneurial drive...
Wells Fargo’s wealth management division reported stronger earnings, revenues and FA headcount in the first quarter, while cross-selling hit a record and client asset inflows were at their highest since Wells acquired Wachovia in late 2008.
TD Ameritrade saw 95 breakaway brokers sign up last quarter, bringing average initial assets of $30 million each to the custodian platform, Chief Executive Fred Tomczyk said today after the parent company reported record revenue and record new...
Father-daughter advisor team Martin Gelb and Sonya Gelb Choeff have jumped ship to Raymond James in Miami Beach, Fla., from Morgan Stanley Smith Barney, as the fight for talent continues.
Continued growth in client trading and fees helped drive profits at Charles Schwab Corp. to higher-than-expected levels for the first quarter, the company said today. Meanwhile, assets in its RIA unit, Schwab Advisor Services, reached a record ...
