Financial Data and Key Metrics Changes - For the fiscal year 2024, total revenues reached $1,432 million, an increase from $1,248 million in 2023, while net income rose to $71.6 million from $30.2 million in the previous year [25][23] - Basic earnings per share for 2024 were $6.91, compared to $6.31 in 2023, with first quarter earnings per share for 2025 at $2.93, up from $2.50 in the same period of 2024 [25][24] - Stockholders' equity at the end of the first quarter of 2025 reached a record $872 million, compared to $850 million at the end of 2024 [26] Business Line Data and Key Metrics Changes - Wealth management revenue for 2024 was $972 million, up from $890 million in 2023, while capital markets revenue increased to $447.6 million from $345.9 million [28][31] - In the first quarter of 2025, total revenue was $367.8 million, with $242 million (66%) from wealth management and $123.3 million (34%) from capital markets, compared to $353 million in the first quarter of 2024 [29][24] - Pre-tax income from wealth management for 2024 was $265.7 million, compared to $218.5 million in 2023, while capital markets reported a loss of $39.6 million, improved from a loss of $63 million in 2023 [29] Market Data and Key Metrics Changes - Client assets under administration reached a new high of $129.9 billion at the end of the first quarter of 2025, while assets under management were $48.9 billion, slightly down from year-end 2024 [32] - The company had 89 retail branches in the US and employed 3,012 individuals, including 933 financial advisors [22] Company Strategy and Development Direction - The company is focused on organic and inorganic growth opportunities in areas complementary to existing businesses, with a strong emphasis on wealth management and capital markets [35] - The company plans to opportunistically hire qualified candidates across its platform in response to market conditions [36] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's position to provide client advice amidst volatile market conditions due to new administration policies [35] - However, they noted that advisory fees may be adversely impacted by lower billable assets under management if recent market declines persist [36] Other Important Information - Albert Lowenthal will step down as CEO but remain as Executive Chairman, with Robert Lowenthal taking over as CEO [20] - The company repurchased 243,806 shares of Class A non-voting common stock during 2024 under its share repurchase program [23] Q&A Session Summary Question: Were there any questions from Class B stockholders? - There were no questions from Class B stockholders, and any questions from Class A stockholders submitted via email will be responded to within the next 24 hours [37]

SAN DIEGO, May 05, 2025 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that 10 financial advisors with Northern Advisory Group have joined LPL Financial's broker-dealer, Registered Investment Advisor (RIA) and custodial platforms. They reported serving approximately $300 million in advisory, brokerage and retirement plan assets* and join LPL from Osaic. Partners Richard DiTaranto, Brian DiBrino and Jeff Miller, who have a combined eight decades of wealth management experience, teamed up in 2004 to la ...

Core Insights - Webull has enhanced its advisory platform by integrating BlackRock's model portfolio capabilities, expanding investment options for US-based investors [1][5][6] Group 1: New Offerings - The new offering provides access to diversified portfolios across multiple asset classes, including alternatives and digital assets, tailored to various risk appetites and financial objectives [2][4] - Users can access personalized investment portfolios through the Webull app, designed for tech-savvy individuals who prefer low-cost and automated portfolio management [3][4] Group 2: User Experience - The process begins with users selecting an investment strategy and completing a risk tolerance questionnaire, which matches them with a corresponding model portfolio [4] - Discretionary accounts are automatically rebalanced and overseen by Webull Advisors, simplifying long-term investing [4] Group 3: Strategic Collaboration - The collaboration with BlackRock aims to deliver smarter, personalized investment experiences, expanding access to high-quality, professionally managed portfolios [5][6] - BlackRock's expertise in asset allocation and market insights enhances Webull's ability to offer sophisticated investment solutions [5] Group 4: Market Context - The launch of BlackRock custom model portfolios on Webull's platform responds to the increasing number of Americans beginning to invest, providing more choices for achieving diverse investing goals [6]

Financial Data and Key Metrics Changes - Stifel Financial generated approximately $1.3 billion in net revenue during Q1 2025, marking the highest first-quarter revenue and the third strongest quarter overall, driven by record asset management revenue and robust advisory and transactional revenue [4][10] - Operating EPS was $1.65, an 11% increase year-over-year, representing record first-quarter earnings per share, although the bottom line was impacted by a significant legal charge of $180 million [4][12] - Net revenue for the quarter was $1.26 billion, an 8% increase year-over-year, reflecting strength in both Global Wealth and institutional groups [10][11] Business Line Data and Key Metrics Changes - Global Wealth Management revenue reached $851 million with a pretax margin of 36%, driven by record asset management revenue and strong transactional revenue [20] - Investment banking revenues rose 11%, driven by increases in both capital raising and advisory, with advisory revenue increasing by 15% year-over-year [11][25] - Asset management revenue was up 11% year-over-year, reflecting organic growth and market appreciation [11] Market Data and Key Metrics Changes - The S&P 500 closed at 5,002.88, down approximately 10% year-to-date, leading to a more conservative market outlook from the company [5][6] - The company noted increased market volatility due to tariffs, uncertainty over global capital flows, and disagreements between the administration and the Federal Reserve on monetary policy [6][8] Company Strategy and Development Direction - Stifel's long-term growth strategy emphasizes the critical role of its Global Wealth Management business, which has more than doubled its revenue over the past decade [13] - The company remains cautiously optimistic about long-term growth despite current market volatility, highlighting the value of its advice-centric business model [8][9] - Stifel is focusing on recruiting higher-producing advisers and has seen success in this area, with a robust recruiting pipeline [14][15] Management's Comments on Operating Environment and Future Outlook - Management believes that while current market conditions present challenges, they do not foresee a recession and remain optimistic about long-term growth [7][8] - The company is prepared to adjust its financial guidance if current conditions persist, but remains confident in its positioning and long-term growth strategy [31] - Management indicated that the uncertainty around policy direction and market conditions has merely delayed significant business growth rather than canceled it [31][32] Other Important Information - The legal charge of $180 million significantly impacted non-compensation expenses, but excluding this charge, non-compensation expenses were below street estimates [19][27] - The company has seen a decline in client cash levels due to typical seasonality related to tax payments, but venture and fund banking deposits have increased [22][82] Q&A Session Summary Question: Adviser recruiting and market conditions - Management noted that recruiting has been active, with high-quality teams being added, and expressed optimism about continued recruiting success despite market volatility [40][41] Question: Wealth commissions and market activity - The decline in wealth commissions was attributed to limited activity early in the quarter, with a pickup in client engagement noted after March [48][49] Question: Organic growth and recruitment strategy - Management discussed adjustments to their recruitment approach to remain competitive, focusing on higher productivity teams and holistic services [72][73] Question: NII outlook and cash balances - The outlook for net interest income (NII) for Q2 is projected between $260 million and $270 million, with cash balances experiencing typical seasonal outflows [75][78] Question: Public finance and fixed income outlook - Management indicated that public finance activity remains healthy despite policy uncertainties, while fixed income trading is expected to improve in the upcoming quarters [96][100]

Group 1 - Binah Capital Group's CFO, David Shane, has been recognized as one of the Top 5 Wealth Management CFOs by Wealth Solutions Report, highlighting his exceptional leadership in the financial services industry [1][2] - Mr. Shane has a three-decade career in financial services, with experience in senior advisory and operational roles, including broker-dealers, RIA firms, and asset managers [2] - Under Mr. Shane's leadership, Binah has successfully navigated its first year as a public company, focusing on financial strategy, transaction structuring, and capital raising [2][3] Group 2 - CEO Craig Gould emphasized Mr. Shane's strategic insight and financial management skills, positioning Binah for significant shareholder value creation [3] - Mr. Shane expressed gratitude for the recognition, attributing it to the collective efforts of the Binah team and reaffirming the company's commitment to long-term growth strategies [3] - Binah Capital Group operates as a national broker-dealer aggregator, providing innovative solutions for independent financial advisors in a competitive marketplace [4]

Core Insights - Old National Bancorp has rebranded its wealth advisory division from Old National Investments to Old National Wealth Advisors (ONWA) to better represent the comprehensive services offered by its financial professionals [1][2] Company Overview - Old National Bancorp is the holding company for Old National Bank, ranking as the sixth largest commercial bank headquartered in the Midwest with approximately $54 billion in assets and $30 billion in assets under management [4] - The company serves clients primarily in the Midwest and Southeast and has a history dating back to 1834, focusing on long-term partnerships and community support [4] Wealth Advisory Services - ONWA has around 125 team members, including over 70 wealth advisors, primarily located in the Midwest and Southeast [2] - The services offered by ONWA include investment strategies, estate planning, financial and retirement planning, college saving options, insurance guidance, and tax planning [6][7] - ONWA operates under three service models tailored to client needs: 1. Investment Strategies Team for clients focused on investing and planning [7] 2. Private Wealth Management for clients planning for retirement and major life events, providing dedicated resources [7] 3. 1834 division for high-net-worth clients with complex financial needs, offering institutional services [7] Strategic Partnerships - ONWA is backed by LPL Financial, a leading independent broker/dealer and registered investment advisor, enhancing its service offerings [2][8]