Despite fewer incoming advisors, CEO Ron Kruszewski says the company’s pipeline is strong and extending to the independent channel.

The nation’s largest independent broker-dealer aims to boost expansion even more, and it’s not ruling out launching its own bank.

Record-level asset management fees and investment banking revenues were credited with the increase in net revenue.

CEO Jim Cracchiolo acknowledged that the firm attracted fewer experienced reps in the second quarter, even as its headcount ticked up by 2%.

A new high in loan volume and a notable influx of advisory AUM drove the wirehouse’s business to more than half a billion dollars in second-quarter net income.

CEO James Gorman says the company has created something new by adding Solium and E-Trade to its existing force of financial advisors.

While the bank’s second-quarter earnings disappointed, wealth management services, driven by Merrill Lynch, were a bright spot.

Higher equity values and client activity pushed up the major custodian’s revenue in the second quarter, despite significant headwinds.

Yet there is concern the Delta variant of the coronavirus may spread and spear policy actions that could slow economic growth.

The megabank announced second-quarter revenue of $4.1B for the Asset and Wealth Management unit, with net income of $1.2B.