Bank of America beat 3Q Wall Street forecasts as it moves to ‘pre-pandemic pace.’

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.

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.

Its parent seeks to support more holistic planning by combining it with two other subsidiaries.

The firm grew its total assets under administration by 30% year-over-year, reaching $530 billion.

While several analysts are bullish, not all are convinced of the Canadian asset manager’s newfound strategy.