assets under management
Morgan Stanley posts strong first-quarter earningsPosted by RJ and Makay on Apr 19, 2012 |
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First-quarter 2012 earnings for Morgan Stanley beat expectations as trading revenue rose sharply and the wealth management unit showed solid returns. The firm posted higher trading revenue than the first quarter of 2011, a benchmark that its Wall Street rivals failed to achieve. It gained market share in key trading areas such as foreign exchange and interest rates, said chief financial officer Ruth Porat.
TD Ameritrade continued in its fiscal second quarter to bring “breakaway” brokers into the company at the double-digit pace set in 2011, the company said today. 104 breakaways formed registered investment advisories and signed up with TD during the second quarter, an increase of 10% from Q2 2011. Net new assets for the quarter reached $10.8 billion, an annualized growth rate of 11%. Fiscal year to date, 204 advisors have come on board.
Morningstar announced last week that it would begin to include advisor fee and commission data from PriceMetrix Inc. in its advisor workstation platform. The news was generally received well by advisors though many were concerned that greater transparency would lead to lowball pricing. Detailed pricing information provides insights into advisor attributes that clients require in a business relationship.
