Ameriprise Financial (AMP) said late Wednesday that its operating profits were $388 million, or $1.80 per share, in the final quarter of 2012 vs. $223 million, or $0.95 per share, a year ago. Operating sales were $2.6 billion vs. $2.5 billion last year, while net sales were $2.7 billion vs. $2.6 billion a year earlier.

$1.47 per share, but not of operating sales, which were $2.68 billion.

“We had a solid quarter led by strong results in our advice and wealth-management business,” said Chairman and CEO Jim Cracchiolo (left), in a press release. “We reported a record high for assets under management and administration driven by strong client net inflows into fee-based accounts and equity market appreciation.”

The number of Ameriprise Financial advisors stood at 9,767 as of Dec. 31, up 37 from last year but down 48 from the prior quarter.

The unit includes 2,318 employee reps, a gain of 88 from last year and a drop of 10 from the third quarter. It also includes 7,449 franchise FAs, which is a decrease of 51 from a year ago and a decline of 38 from the earlier period.

Still, the company says it recruited 68 experienced advisors in the quarter and 382 advisors for the full year.

To see entire AdvisorOne article : Ameriprise Boosts Profits on Strong Wealth Results.

ROB is a wirehouse adviser based in the Pacific North-west who has spent a professional lifetime with the same firm.

He was 25 when he joined the wirehouse almost 30 years ago, and he earns a living that has far exceeded his wildest expectations. Over the years, he has largely been content. He has felt a sense of loyalty to his firm because he believes it has brought him a level of credibility and respect that he might not have gained elsewhere.

Today he generates just over $3 million in annual revenue and manages approximately $400 million, mostly for high-net-worth clients. Seventy percent of his business is fee-based, with the balance in mutual funds, structured products and some individual equities.

For More : Should I stay or should I go? – InvestmentNews.

Morgan Stanley, the biggest financial brokerage, will spend $500 million to improve computer systems after flaws in a previous upgrade frustrated the staff.

Investments in technology will be made over the next 18 months, according to a memo from Greg Fleming, 49, head of its brokerage unit, that was dated yesterday and obtained by Bloomberg News. Brokers complained about glitches and more cumbersome processes last year after New York-based Morgan Stanley switched to a single system for its Smith Barney joint venture with Citigroup Inc.

“For us to be the best wealth-management firm for our advisers and clients, we must have the best platform,” Fleming wrote. “We will not stop until we have achieved this.”

For More Information Go to Onwallstreet Morgan Stanley to Spend $500 Million on Technology for Brokers | On Wall Street.

TD Ameritrade Institutional kicked off its national conference on Thursday morning in San Diego by announcing major new initiatives in three critical areas of interest for advisors: the search for the next generation of advisors; advocacy in Washington for a fiduciary standard, and enhancing its technology offerings to provide more efficiency to RIAs.TDAI President Tom Nally left announced the new programs at the formal opening session of the conference, which TD representatives said had attracted 3,000 attendees who over the course of the three-day conference will hear from Condoleezza Rice, fiscal policy wonks Alan Simpson and Erskine Bowles, and Malcolm Gladwell though truth be told, there’s at least as much buzz about the entertainment at Friday night’s closing gala: Pat Benatar.

via TD Ameritrade Unveils 3 Critical Advisor Initiatives as National Shindig Begins.

For more info see AdvisorOne Article

How to become a Successful Financial Advisor – YouTube.