Dundee Wealth Management’s second-quarter profit more than tripled to nearly $5.2 million in the second quarter, the company reported Thursday.
Revenues grew 12% through a combination of internal growth and acquisitions.
Net earnings for the three months ended June 30 amounted to 8¢ per share, up from 1¢ per share a year earlier when net earnings were $1.5 million.
Revenue for the quarter was $76.8 million, up from $68.4 million, with the increase due to higher management fees, redemption fees and investment income.
Revenues from managment fees were $39.9 million in the quarter. Year to date, management fee revenues are $77.3 million, up from $58.3 million in the same period of last year.