Lower compensation costs from retention note runoff, deferred comp valuations and a drop in broker count offset a small revenue decline in the third quarter.
Jed Horowitz is a veteran financial journalist, having spent more than three decades covering brokerage firms, commercial banks, equities and futures exchanges, investment banking and regulation as a reporter and editor. He has worked at Reuters, Dow Jones, Bloomberg, McGraw-Hill, American Banker and Investment News, and edited magazines for financial advisers, corporate treasurers and investors. He began his professional life writing elementary school textbooks and creating games, riddles and stories for a children’s magazine. He is the proud father of two daughters, giving him great insight into the millennial generation.