After a difficult start to the year, Stifel reported a strong second quarter, with record AUM and net revenue figures for its wealth management division.

The large St. Petersburg, Florida-based wealth management firm claimed its best advisor recruiting figures since the global financial crisis, though it didn't cite specifics.

The Fed's rate cuts last year also took a toll on the company's results for the second quarter, when there were sharp drops in the flow of incoming client holdings.

The brokerage giant's asset tally rose to a record high of $10.76 trillion in the second quarter.

The Wall Street powerhouse has built its wealth division in large part through big deals but is not "looking to make acquisitions just for the sake of it, " said CEO Ted Pick.

But the Bank of America subsidiaries nonetheless reported rises in AUM and net revenue in the second quarter while adding thousands of new client relationships.

In an earnings call Tuesday, CEO Charlie Scharf credited brokers in the firm's branches for working with consumer bankers for a 10% increase in new assets.

Citi's wealth division was a relative bright spot in the bank's second quarter earnings report, with revenue up amid turbulent market conditions.

Negative net new assets came back to the giant clearing and custody firm in the second quarter, although they weren't as large as in the same period of 2024.

Even without net new assets, the firm's assets under management and administration were pushed upward by market gains.

In an earnings call, LPL's CEO said his efforts to woo Commonwealth advisors have extended to a "rain-soaked" bike ride and wine-tasting tour.

UBS' Americas unit benefited from a swift uptick in client transactions in April, but that activity has since subsided, CEO Sergio Ermotti told analysts.

CEO Ron Kruszewski received praise for leading the firm's wealth management unit to a record for revenue, despite costly legal setbacks.

Jim Cracchiolo told analysts that the firm's retention "is quite good," even though his company, like many of its rivals, stopped providing statistics to verify such claims.

CEO Paul Shoukry also told analysts that the merger and acquisition deals coursing through the industry could open doors for firms eager to bring in advisors and net new assets.

Record revenue wasn't enough to offset costly legal charges that the firm racked up in the first quarter.

Executives at Merrill's parent firm, Bank of America, told analysts in a call that nearly two-thirds of their wealth management clients now have banking relationships with the firm.

Goldman Sachs CEO David Solomon joined JPMorgan's Jamie Dimon in a tie atop the executive compensation rankings for the industry's largest publicly traded firms.

Citi's wealth division saw a nearly five-fold increase in new investment assets in the first quarter. CEO Jane Fraser said the firm has "real horsepower and firepower in our investment capabilities."

Goldman's stock traders posted their highest quarterly revenue haul on record, riding a wave of volatility triggered by an emerging global trade war, but revenue from the asset and wealth management business fell short of analyst expectations.