Record Client Assets in Wealth Management
We ended the quarter with a record $125 billion in client assets, driven by rising market values and complemented by recruiting and organic inflows. The adjusted pretax net income contribution from the division increased by 23% year-over-year.
Strong Performance in Australian Wealth Business
Australian Wealth business generated record revenue of $23 million, increasing 25% year-over-year and 11% sequentially. Client assets grew to a record of $10 billion, an increase of 37% year-over-year and 6% sequentially.
Growth in Principal Trading Revenue
Principal trading revenue increased by 52% year-over-year to $38 million, driven by substantially higher trading volumes during the 3-month period.
Improved EBITDA in U.K. Wealth Business
Normalized EBITDA of GBP 21 million for the 3-month period reflects a year-over-year improvement of 8.5% in the U.K. Wealth business.
Record Growth Conference Attendance
The company will host its largest ever Growth Conference with new records for registration, indicating improving confidence across dynamic growth sectors.