FOR IMMEDIATE RELEASE |
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Patricia Buscher | CB04-08 | ||
Public Information Office | |||
(301) 763-3030/457-3670 (fax) | |||
(301) 457-1037 (TDD) | |||
e-mail: pio@census.gov | |||
Investment
Advisors’ 2002 Revenues Increase 6 Percent |
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Investment
advice services provided by employer firms, bucking a downturn experienced
by most other financial services, showed an increase in revenues in 2002
of 6 percent, the U.S. Census Burea reported today. Revenues in 2002 reached
$17 billion, compared with $16 billion in 2001.
In contrast, the total revenues for securities and commodity contracts and other financial activities provided by employer firms fell 11 percent, from $288 billion in 2001 to $257 billion in 2002. Tables in the report, titled 2002 Service Annual Survey: Securities and Commodity Contracts Intermediation and Brokerage Services, showed revenues from commodity contracts-dealing remaining steady at $2 billion. The largest revenue decline among covered financial services was in investment banking and securities dealing, which fell 19 percent to $79 billion. Securities brokerage services generated $79 billion in revenues, down 11 percent. Excluded from the report are securities and commodity exchanges; monetary authorities of the Federal Reserve Bank; credit intermediation and related activities; insurance carriers and related activities; and funds, trusts and other financial vehicles. Estimates contain sampling and nonsampling errors. To keep the identity of individual firms confidential, some estimates may be suppressed. Users who make their own estimates, based on the survey’s estimates, should cite the U.S. Census Bureau as the source of the original estimates only. See <http://www.census.gov/econ/www/servmenu.html>
for measures of sampling variability and other survey information. |
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