Hartford wealth manager Virtus Investment Partners Inc. posted a nearly 50 percent increase in third quarter profits thanks to higher sales of its financial-savings products and services.
For three months ending Sept. 30, Virtus said Friday it netted $24.9 million, or $3.19 a diluted share, up 49 percent compared to $16.7 million, or $2.21 a diluted share, a year earlier.
Revenues for the quarter climbed 24 percent to $152.2 million vs. $123.7 million in the year-ago period.
Virtus said its managed assets also rose 17 percent to $105.6 million.
