Despite the continuing smaller financial advisor headcount at the wirehouse, it reeled in record profits and unveiled its latest plans for further expansion.

Though the Providence, Rhode Island, bank is in the midst of three deals, CEO Bruce Van Saun said it remains on the lookout for other nonbank purchases that could help boost fee income and generate cross-selling opportunities.

The brokerage now manages $7.61 trillion across its retail and RIA custody businesses.

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James Gorman says the wealth manager is seeing much better retention and recruiting due to its “multiple channels of growth” after several acquisitions.

The higher number of brokers in two of the megabank’s largest business segments reeled in higher client assets based on equity values and inflows.

After unveiling another deal for an RIA with billions in AUM, the firm is also revamping its CRM system with Salesforce as its vendor.

Rising equity values and incoming assets drove higher earnings despite the lower number of financial advisors at one of the largest wealth managers.

The wealth manager has opened more ways to affiliate with the firm by starting to tap M&A deals with a sizeable pipeline for more in the future.

The TAMP saw record quarterly inflows under new CEO Natalie Wolfsen, who has plans to make a splash in wealthtech M&A.