Source: The Canadian Press

DundeeWealth Inc. (TSX:DW) says earnings and revenues were higher in the second quarter.

The Toronto-based wealth management and mutual fund firm reported Wednesday that earnings before interest, taxes, depreciation and amortization grew to $74.5 million from $40.7 million a year ago, for the comparable periods ended June 30.

Revenues increased 23 per cent to $231.1 million from 187.6 million.

Assets under management were $38 billion at June 30, an increase from $36.1 billion as of Dec. 31, 2009.

“Margin improvement has been an obvious priority for us over the last 18 months,” said president and CEO David Goodman in a release.

“Last year, we delivered on our commitment to bring costs down substantially. This year, we are proving we have the capacity to keep them at a reasonable level while at the same time supporting the strong revenue generating activities that remain critical to growing our business.”

DundeeWealth, a publicly traded subsidiary of Dundee Corp. (TSX:DC.A), provides investment management, securities brokerage, financial planning and investment advisory services.

The Dundee companies are controlled by the Goodman family through multiple vote shares, although Bank of Nova Scotia (TSX:BNS) bought a significant minority stake in DundeeWealth about two years ago.