Turnkey Asset Management
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T. Rowe Price Earnings Fall Short of Analyst Expectations
By John SullivanT. Rowe Price (TROW) reported net income of $158.5 million, or $0.59 per share, for the second quarter, an increase of 55% from the same time last year. Despite the increase, earnings fell short of analyst expectations.
July 21, 2010
Study on Asset Management Examines Academics' ThinkingA new research paper evaluates academic contributions to the field of asset management and find them wanting, at least in terms of how the real world works.
July 21, 2010
Morgan Stanley Raises Profits as Wealth Unit Sees OutflowsMorgan Stanley Smith Barney said Wednesday, July 21, that its global wealth management clients withdrew net $5.5 billion during the second quarter
July 20, 2010
BNY Mellon Boosts Q2 Earnings on Lower Clearing IncomeThe Bank of New York Mellon reported on July 20, quarterly income from continuing operations of $668 million, or $0.55 per share, compared with $267 million, or $0.23 per share, in the second quarter of 2009.
July 20, 2010
BNY Mellon Boosts Earnings on Lower Clearing IncomeRevenue from clearing services to broker-dealers and RIAs was $369 million in the most-recent period, down 8% from last year but up 1% from the first quarter.
July 18, 2010
BofA Profits Fall in Q2, but Merrill Boosts Advisor Headcount, Fees and IncomeMerrill operations have 15,142 advisors as of the second quarter vs. 15,005 in the previous quarter and 15,008 a year ago.
July 16, 2010
BofA Profits Fall in Q2, but Merrill Boosts Advisor Headcount, Fees, and IncomeBank of America, the parent company of Merrill Lynch, reported profits of $3.1 billion, or $0.27 per share, on $29.2 billion of revenues in the second quarter of 2010, down from Q2 in 2009.
July 16, 2010
Schwab Improves RIA Assets on Flat Profits in Q2Charles Schwab said it had net income of $205 million, or $0.17 cents a share, for the second quarter of 2010, flat vs. the second quarter of 2009 but up from $6 million for the first quarter of 2010.