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HomeLife Insurance12 Finest & Worst Dealer-Sellers: Q3 Earnings, 2022

12 Finest & Worst Dealer-Sellers: Q3 Earnings, 2022


This quarter, solely three of the 12 broker-dealers tracked every quarter by ThinkAdvisor reported optimistic year-over yr progress of their income and earnings per share — down from 4 BDs within the second quarter of 2022.

Within the third quarter, the S&P 500 declined 5.3 versus a drop of 16.1% within the second quarter of 2022. Monetary providers shares within the index dropped 5.0% general in Q3’22.

Many broker-dealers and a complete of 34 monetary providers corporations mentioned powerful financial situations throughout their most up-to-date earnings calls, with 54% of economic corporations particularly utilizing the time period “recession,” in keeping with FactSet analysis.

“However the difficult and unstable market setting through the fiscal yr, we generated report outcomes with annual web revenues and pretax revenue progress of 13%, which was pushed by robust natural progress … the good thing about increased short-term rates of interest and, most significantly, our advisors’ and associates’ unwavering give attention to at all times placing their shoppers first,” mentioned Raymond James Chair and CEO Paul Reilly in a press release on Oct. 26, when the agency launched its most up-to-date outcomes.

As for developments in shopper property, Raymond James reported a 7% year-over-year lower and a 3% fall from the prior quarter to $1.04 trillion in Personal Shopper Group property underneath administration for the interval ending Sept. 30.

Monetary corporations kick off the fourth quarter and year-end earnings season on Jan. 13, when JPMorgan and Wells Fargo plan to report their outcomes.

(Picture: Chris Nicholls/ALM)

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