Investors Cap Reports Profit, Recruiting Results for Latest Quarter

Adjusted EBITDA, a key metric utilized by the firm in evaluating its financial performance, was $0.59 million compared to $0.10 million for the prior period.

"New advisor interest in Investors Capital has been strong and recruiting has been very robust, a testament to our unique brand as well as the promise of the independent channel," explains. Murphy. "Achieving our corporate goals for profitability and service is compelling evidence that Investors Capital is well-positioned to capitalize on its potential in the years to come."

As of September 30, 2009, Investors Capital has 637 financial advisors in its network, down from 687 a year ago. The company says – as part of the Quality over Quantity campaign, it is "bringing on higher-producing advisors."

For example, advisors that joined in the 2009 fiscal year (ending March 31, 2009) had average trailing-12 month fees and commissions of $248,000. In addition, lower-producing advisors are exiting the firm.