According to ThinkAdvisor, several broker-dealers reported impressive financial performances in the second quarter of 2024, with some standing out for their significant earnings growth. Below are the top five broker-dealers based on their Q2 2024 earnings:

Goldman Sachs

Goldman Sachs led the pack with a staggering 150% increase in net income, reaching $3.04 billion. The firm's earnings per share (EPS) soared by 183% to $8.62. The Asset and Wealth Management division contributed $3.9 billion in revenue, marking a 27% increase from the previous year.

Morgan Stanley

Morgan Stanley posted a strong 41% rise in earnings, totaling $3.08 billion. The firm's EPS jumped by 47% to $1.82. Despite a 59% decline in net new asset flows within its Wealth Management segment, Morgan Stanley managed $4.44 trillion in advisor-led assets out of $5.69 trillion in the division.

Stifel Financial

Stifel Financial reported adjusted earnings of $185.9 million, up 28% year-over-year. The firm's EPS rose by 32% to $1.69. Although the advisor headcount slightly decreased to 2,359, Stifel's earnings growth reflects its strong financial performance in Q2 2024.

Raymond James

Raymond James achieved a 27% increase in adjusted earnings, reaching $508 million. The firm's EPS climbed by 29% to $2.39. The Private Client Group's total assets under administration hit $1.42 trillion, and the advisor headcount grew to 8,782.

JPMorgan

JPMorgan reported a 25% rise in net income, totaling $18.2 billion. The firm's EPS increased by 29% to $6.12. The Global Private Bank saw an advisor headcount increase of 214, bringing the total to 3,509.

These firms demonstrated strong earnings growth in Q2 2024, solidifying their positions as top performers in the financial industry.

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