Reports Q1 revenue $2.79B, consensus $2.84B. "During a volatile and challenging market environment, we generated record quarterly earnings as the benefit of higher interest rates more than offset the decline in capital markets results," said CEO Paul Reilly. "Once again, our results highlight the value of having diverse and complementary businesses. While the economic outlook remains uncertain, we are well positioned with strong capital ratios and a flexible balance sheet." "With our continued focus on retaining, supporting and attracting high-quality financial advisors, we generated strong domestic net new assets of approximately $23B during the quarter, an annualized growth rate of 9.8%," said Reilly. "Recruiting activity remains strong across all of our affiliation options, driven by our advisor and client-focused culture and leading technology and product offerings."
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