Waddell & Reed Financial reported a 5% increase in third-quarter earnings, earning $24.5 million ($.30 per share), compared to $23.4 million ($.29) one year earlier.

The recent gain was attributed to $1.8 million ($.02 per share) in tax benefits from the legal bills the company did not deduct previously. The company also reported that sales went up by 27% in its investment adviser network of 2,443 brokers.

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