Matthew J. Audette
And Dan. assets glad gross to speak growing strong you, everyone call. today's Thank both on QX, profit. We another I'm right. All and in quarter with had
investment of expenses to to level on growth, our operating increased also remaining generate organic disciplined We leverage. drive while
double our year QX result, from a nearly level was $X.XX, prior our intangibles to a As EPS ago.
of as on execution. we growth pleased strategy focus We with results these are continue to and our
hybrid inflows $X.X this we in this depth, for starting the level Brokerage New the by also organic growth. of look Assets billion, with X% absorbing Let's finished XXXX. related results $X.X of We outflows billion of driven at billion, small Total sequentially, our I'd result since last appreciation greater a that which and or Total tracking billion, note quarter. group quarter highest at in Assets. $XXX to is and we quarterly up discussed organic $XX that were began business metric firms Net QX includes Advisory market
So prior organic outflows. growth was to even those higher
to growth Assets billion New rate. by growth inflows in Looking organic conversions results primarily Platform. $X.X were were included in annualized to driven These or billion brokerage Net X% This $X.X our greater Advisory from a Advisory detail. advisory. Corporate at
and as Platforms return Corporate greater of of continued time. inflows with approximately Net results assets quarter. Advisory, our well on Our three Centrally brokerage in of highlight trends These More Centrally more usage over Advisory benefit converting gross $X.X or advisory, our Managed Platforms. New Managed one-third our from this billion assets profit to that to growth Assets positive grow
up million, in starting Now, let's driven cash by increase sweep or It bonus This production expense. offset turn $XXX gross advisory and fees sequentially. in profits. was results, increases by X% QX was partially our seasonal with to a million, $XX revenues,
QX, million, in increase seasonal in or offset production fees Moving bonus to in commission down net more and were the growth X% they of typical and $XXX expense as payout, than advisory $X advisory million commission sequentially, fees.
net of primarily and basis, they Platforms. fees advisory million driven of NPH $XX and by up payout on or commission XX%, Managed and Advisory use a our at Corporate Looking year-over-year were assets, Centrally greater
Looking $XX X% was core detail, at XX% strongest of was $XXX sales they more and was year-over-year growth. growth XX%, NPH basis or in full increase, million year Of in QX, organic the were assets that on a up over million to This sales year. in the years. ramp related from business commissions commissions four
anticipate bonus we achieve increasing QX, levels seasonally, year. will to production higher ahead the as throughout advisors of continue expense production Looking
QX by As basis rate bonus points million. $X context, QX last XX to year, about production from our or increased
assets, includes sponsor on average up as million transaction mutual $X growth revenues fee $XXX fund from revenues, fees sweep no QX, million, asset-based platforms. cash were which our sponsor as well primarily by for driven As higher and
sweep $XXX yields. up higher million, our to average sequentially, interest $X million Moving as or revenues, X% increased rates were they cash short-term
they down $XX.X As balances, billion, QX. for were billion $X.X cash client from
in in that of was note decline an majority saw increase the However, we would July, the actually I and September.
And seen increase in October, a far have we in balances. further so
added engagement I this provide color provides activity. to disclosures quarter: selling dynamics and around our balances. of level our Net investor cash have insight Next, on additional buying sweep as metric want well new into a This our metric we some to as
market. average more primary buying our disclosure, new investors the increased the disclosure you driver has can meaningfully double more find you our XXXX hope This this investor new to work years of over cash the increase is money put levels. two sweep with average see past than in lower net in balances, We helpful. As as engagement
yields. in to our cash results sweep back Turning
was XXX up points, remaining primarily XX June the points hike. QX, from the Our QX of yield rate benefit from basis ICA basis
deposit XX% our ICA to about ahead recently to or deposit beta QX Looking basis a our yield, increased we rates on points X.X average. of equivalent
to indexed up the that benefit So showed will the rate be in net And are that, some basis of benefit of approximately September LIBOR. hike balances QX XX points.
those positioning Given QX around the and choice wanted the item strategic more cash yield our will early rate balances cycle. as we One to been XXX basis you our note give of of sweep a conscious factors rate on interest mostly sense in rates, the has our assuming ICA no increases short-term or points. be our changes of to interest a I tied interest was anticipate in further to Historically, management cash sweep; were rates capabilities. rates. mix This deposit
we to deeper as This years. move the to highlight demand balances our recently as strong. rate have I rate ICA billion our thought would fixed above agreements note bank rates, fixed average important the of with However, fixed moved it that we for we into total the portfolio. also fixed of sweep is cash more rate just deposits ability we our the three cycle, to balances place an that maturity XX% $X at brings to was longer-term of around of agreements
thinking keep updated time. as We mix will you over our evolve and
by on decline in million Let's or partially by They QX. primarily increase X% move revenue. QX from $X seasonal driven of was $X This transaction now revenue, transaction up and conference $XXX to a million million, offset fee were revenues.
major QX, conferences do ahead Looking any to we the have not in quarter.
expect to conference $X by we million. decrease So approximately revenue
Core organic This to service help up In was from G&A planned in G&A. Now, QX, technology expenses, our increase driven QX. by was million, and Core turning $XXX primarily $XX drive with to growth. starting expense million
million, as were with for of increases such million investments line includes full-year expectations. our million. $XXX results planned client range This Core $XXX translates growth. range our for continuation which to G&A the well Core a our the $XXX left, quarter tightening As as to QX as to QX we $XXX seasonal year, and we expenses professional are one of With in further our at look G&A statements million organic our fees, to
I on are to we plans. XXXX, wanted to our context thinking As share some spending forward look about how we
growth And our reminder, our and continue driving a year's operating our we investments, trajectory growth driving As leverage long-term technology as are strategy deliver evolves. environment growth. organic around investments growth into service next to give prioritizing to the see and with that to slightly outlook sharing This is we in year. finalize expect Core you more cost sense productivity and our adapting X%, by plans thinking, expense efficiency, year. our We specific more To of to rate. our we a this current forward you opportunities later growth than after be G&A XXXX look a
higher promotional Moving XX% by primarily $X assistance on increased were well to they $XX in as of Focus million, QX, QX driven levels Conference our up sequentially. recruiting. This expenses, our transition from as was million, or
million. to QX, Looking expense decrease ahead to expect by $X about we promotional
we amortization As lower anticipate loan expenses. offset partially marketing conference increased transition expense, by assistance seasonal and
above million. our our management, well million, use to corporate $XXX balance available of the sheet target capital in on strong for Moving QX. was Cash remained $XXX
we leverage to was down X.X earnings. our it as grow for X.X sequentially, times, continue ratio, As
for deployment, investing capital foremost, capital appropriate, conducting priorities and to our growth to organic Turning when shareholders. first returning and M&A remain
the we new investments areas grow, Looking than believe a technology. to of on focused at total, we organic level our these helping our In across existing in investment advisors helping to that and billion marketplace. enhancing advisors win growth, more this are our are LPL, $X.XX a advisors on invest year; track recruiting is
at recent $XXX in Year-to-date, deployed authorization about In $XX our addition we shareholders returned of we've to our complete $XXX deploying share two it million have capital quarters. investments for growth, share in excess If dividends million and million we quarterly pace, remaining. we continued in by regular would we repurchases. have million organic purchases, and into $XXX to paying
and a new Given levels is this We'll our we a authorization. we compelling our provide of repurchase expected detail buy, are with that you cash generation view our complete more on stock after work. share working
the In our that look we Wednesday, New As Day York City. next XX, forward assets more have in our a open profit, we to point, are share closer XXXX closing, with want as scheduled focused and gross Analyst business growth to returns. providing I event. to staying Investor get May we call details and final results. We and disciplined continued to organic on financial for that, pleased drive We and growing questions. investing while the and deploying With for expenses, operator, shareholder on remain growth capital strong for please
