The 3 Smartest Financial Services Stocks to Buy With $10K Right Now

Industry Overview - The financial services sector in 2024 is expected to grow due to strong economic fundamentals and technological advancements [1] - Key trends include a resurgence in traditional banking driven by rising interest rates and economic recovery, alongside significant expansion in fintech [1] - Digital innovations like blockchain and AI are enhancing efficiency and customer experience in financial services [1] Company Highlights Charles Schwab (SCHW) - Charles Schwab reported $5.12 billion in revenue for 2024, a 9.5% increase year-over-year, with an EPS of 93 cents compared to 77 cents the previous year [3] - The company has $7580 billion in total client assets and $150.7 billion in net new client assets, both exceeding analyst estimates [3] - Analysts expect Schwab's EPS to grow by 35.38% from $3.25 to $4.40 per share in the coming year [4] Goldman Sachs (GS) - Goldman Sachs reported quarterly net revenues of $14.21 billion and net earnings of $4.13 billion in Q1 2024, resulting in an EPS of $11.58 [6] - The Global Banking & Markets segment generated $9.73 billion in net revenues, while Asset & Wealth Management contributed $3.79 billion [6] - The firm has assets under supervision reaching a record $2.85 trillion [6] Morgan Stanley (MS) - Morgan Stanley achieved a profit of $2.02 per share, surpassing the estimated $1.66 per share, with total revenue rising to $15.14 billion from $14.5 billion year-over-year [8] - Investment banking revenue increased by 16% year-over-year, driven by strong equity underwriting [8] - The firm manages $7 trillion in client assets across wealth and investment management [8] - Morgan Stanley is expanding its presence in Asia, increasing its stake in its Chinese securities joint venture to 94% [9]