Financial Performance - Gross Profit reached $1.479 billion in Q3 2025, a 31% year-over-year increase[21, 81] - Adjusted Pre-Tax Income was $569 million in Q3 2025, up 35% year-over-year[27, 84] - Adjusted EPS increased to $5.20 in Q3 2025, a 25% year-over-year increase[25, 83] - The Adjusted Pre-Tax Margin was 38.4% in Q3 2025, a 1.2 percentage point increase year-over-year[23, 26] Assets and Growth - Total Advisory and Brokerage Assets reached $2.315 trillion in Q3 2025[13, 73] - Advisory Assets accounted for 58.2% of Total Assets in Q3 2025, a 2.2 percentage point increase year-over-year[13, 74] - Recruited Assets amounted to $32.6 billion in Q3 2025[15] - Organic Total Net New Assets (NNA) were $32.7 billion in Q3 2025[17] - The organic growth rate was approximately 7% in Q3 and approximately 12% over the past four quarters[17, 28] - Centrally Managed Assets grew to $203 billion in Q3 2025, with a 34% organic growth rate over the past 4 quarters[31] Client Cash and Payout - Client Cash decreased to 2.4% of total assets in Q3 2025[35, 52, 55] - Net Buy activity was $42 billion in Q3 2025[34, 55] - The Payout Rate was 87.5% in Q3 2025[36, 37] Expenses and Capital Management - The company lowered its 2025 Core G&A outlook range to $1.86 billion - $1.88 billion[59] - The company targets a leverage ratio between 1.5x and 2.5x[63, 64]