Asset management and service fees are becoming increasingly more important as they surge past commissions. This normally would mean more stability of income. The question becomes how do they rank in the performance measurement game?
Investors should be able to do simple arithmetic and compare performance. To produce results, will A.G. Edwards start to take risks to beat the averages and look good when easily compared to similar offerings? In the meantime look for a cultural conflict as AGE wrestles with the required change.
AGE 1-yr chart: