|Earnings Of A Variety Of Industry Firms Varied Substantially During The First Quarter|
|Friday, May 18, 2012 15:36|
Financial industry advisor partner firms lost money during the first quarter in spite of the surge in the equities markets. Reuters saw firms report earnings that were down 85% even though revenues were up by 28%. Another company tracker said that earnings on a special group they track were down 97% on year-over-year quarters.
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The second group includes independent broker-dealers as well as wirehouses and other types of financial advisors. It looks at the best and worst performers on their list and combined both of those into a single list for this quarter’s report.
Raymond James, LPL, Citigroup, Ameritrade, Schwab, and others were on the list with Citigroup, Wells Fargo, and posting positive results and the rest seeing declines. Some wirehouses, independent broker-dealers, and other advisor partner result were more volatile through the quarter with some seeing earnings drop as much as 718%, climb back, and end up 13% for the quarter. Knowing how other firms in the industry are doing can help you plan strategically in competing with your peers.