Jovian Capital Corp. today reported a big jump in revenue and profit for the first quarter ended June 30.

The financial services holding company said today that quarterly profit climbed to $3.9 million, or 3¢, a share, from $180,000, or 0¢ a share, in the year ago period.

“Both our wealth and asset management businesses showed good growth this quarter,” said Philip Armstrong, president and CEO. “Once again, our investment banking group contributed significantly to our results.”

Revenue was $39.8 million revenue for the quarter, which represents an increase of $20.2 million, or a 103% increase compared to the same quarter of the prior year.

This quarter’s client assets are in excess of $11.7 billion, up from $8.5 billion in the same quarter for the previous year.

Total expenses for the quarter were $35.9 million, versus $19.6 million in the same quarter of the prior year. The increase in expenses is a result of Jovian’s growth on a year-over-year basis, both organically and through acquisitions.