The latest push-pull episode between the giant firm and its large branches came to light in its earnings call. Unanswered questions loom large for its future.

The regional wealth manager reports losing 41 advisors in the second quarter, although its headcount was still up 4%.

The surprise announcement of their exit distracted from some record metrics and the firm's indication that it will be keeping its cash sweep yields the same.

Ameriprise Financial reported higher second-quarter earnings driven by its wealth groups.

Net revenue for the Private Client Group reached a new height of $2.42 billion, an 11% jump from the same quarter last year.

CFO Jim Marischen commented on the company's cash sweep policies, following industry concerns about the practice.

The firm continues to see success with encouraging wealth clients to open banking accounts.

The brokerage giant sticks to more conservative approach to retail investing amid increasingly crowded market.

The company celebrated its 25th anniversary as a public company with net earnings of $700 million in its wealth unit. The profits were an improvement from its losses last year.

With a profit margin of 46% in the business segment and new converts using the firm's technology, BNY CFO Dermot McDonough said the company is in good shape.

Citi's CEO Jane Fraser assured investors Friday that the megabank was on the rebound from a corporate restructuring and regulatory actions.

The megabank saw a 15% increase in assets under management in its wealth management division in the second quarter.

Rising expenses from increasing asset values in client accounts also put a dent in the unit's bottom line in the second quarter.

The Toronto-based bank's U.S. subsidiary has taken in $15 billion in asset inflows in the past two years.

Like 2023, 2024 has been good to Edward Jones. The St. Louis-based firm finished the first quarter with higher revenues and more financial advisors on its payroll.

Executives at the Zurich-based bank say $27B in net new assets for the first quarter put the firm well on its way to its wealth management goals.

Industry experts who track comings and goings at large firms say the advisor staff figures often obscure more than they reveal.

Higher expenses from the record headcount of financial advisors and a continuous stream of recruits and acquisitions are investing in the firm's future earnings, though.

In the first three months of 2024, both profits and client assets reached new heights at RayJay's Private Client Group.

After a mixed quarter for the firm's wealth unit, CEO Ron Kruszewski predicted that the Fed may cut rates zero or just once or even hike them in 2024.