The earnings of these Big US Security Broker/Investment Advice Corps have rocketed under the Obama Administration.
For the most recent fiscal year ended 2011, these 26 US Security Broker/Investment Advice Giants registered Total Pretax Income of $21.0 bil, which was up 14% from 2010, and a much more robust 95% from 2009.
In deriving Pretax Income, I start with Pretax Income under Generally Accepted Accounting Principles (GAAP), and then exclude several clearly unusual very large items relative to Pretax Income, such as Intangible Asset Impairments.
Clearly, the Obama Administration has created a US economic environment which has permitted these 26 US Big Security Broker/Investment Advice Corps to flourish. This only makes sense, since the Dow Industrial Index has more than doubled in the past three years.
Below here is the Pretax Income of these 26 US Big Security Broker/Investment Advice Corps for each of the most recent three years.
| Obama | |||||
| Bump | |||||
| PTI | PTI | ||||
| 1 Year | 2 Year | ||||
| PTI | PTI | PTI | % | % | |
| 2011 | 2010 | 2009 | Change | Change | |
| mils $s | mils $s | mils $s | |||
| Security Brokers and Investment Advice | |||||
| BlackRock | 3,135 | 3,021 | 1,272 | 4% | 146% |
| FranklinResources | 2,624 | 2,070 | 1,289 | 27% | 104% |
| CME Group | 1,937 | 1,722 | 1,438 | 12% | 35% |
| Charles Schwab | 1,392 | 1,099 | 1,276 | 27% | 9% |
| Ameriprise Fincl | 1,385 | 1,634 | 920 | -15% | 51% |
| T Rowe Price | 1,251 | 1,070 | 689 | 17% | 82% |
| TD Ameritrade | 1,016 | 912 | 1,059 | 11% | -4% |
| Invesco Ltd | 908 | 834 | 358 | 9% | 154% |
| IntercontlExchnge | 759 | 610 | 494 | 24% | 54% |
| InteractiveBrkrs | 741 | 337 | 538 | 120% | 38% |
| NYSE Euronext | 725 | 686 | 205 | 6% | 254% |
| NasdaqOMXGrp | 573 | 526 | 391 | 9% | 47% |
| Jones Fincl Cos | 482 | 393 | 269 | 23% | 79% |
| Affiliated Managrs | 453 | 379 | 246 | 20% | 84% |
| RaymondJamFin | 451 | 356 | 236 | 27% | 91% |
| Jefferies Group | 419 | 397 | 508 | 6% | -18% |
| Eaton Vance | 384 | 327 | 207 | 17% | 86% |
| Legg Mason | 365 | 330 | (1,880) | 11% | 119% |
| SEI Investments | 318 | 370 | 362 | -14% | -12% |
| Waddell & Reed | 283 | 246 | 162 | 15% | 75% |
| LPL Investment | 283 | (51) | 73 | 655% | 288% |
| Federated Invest | 246 | 301 | 327 | -18% | -25% |
| CBOE Holdings | 240 | 165 | 177 | 45% | 36% |
| Lazard Ltd | 235 | 244 | (182) | -4% | 229% |
| Janus Capital | 233 | 245 | 107 | -5% | 118% |
| Knight Capital | 187 | 150 | 233 | 25% | -20% |
| Total all 26 | 21,025 | 18,373 | 10,774 | 14% | 95% |
