Despite a more difficult investment climate of late, investors looking to get the most return from their hard-earned dollars continue to rely on the guidance of T. Rowe Price (NASDAQ:TROW). The company reported record average assets under management of $238.7 billion. That, along with higher investment-advisory fees, which grew 19% to $295.5 million, pushed the company's results to record levels.

For the second quarter, T. Rowe Price posted a gain in net income of 28% to $102.7 million, or $0.76 per share, topping the average analyst estimates. The company's revenue jumped 17% to $363.5 million.

Although operating expenses were up significantly, increasing 15% to $208 million, the biggest expense was for compensation and related costs. How bad can business really be when your staff increases approximately 3% in the first half of the year?

The company also remains debt-free, with cash and net liquid investments of $700 million. It has also repurchased 1.3 million common shares this year.

With baby boomers continuing to invest to ensure a satisfying retirement, and the younger generation realizing Social Security can't be counted on for much, if anything, individuals will continue to turn to investment companies like T. Rowe Price, Legg Mason (NYSE:LM), and Affiliated Managers Group (NYSE:AMG) to help increase their wealth. A clean track record in an industry that's been inundated with a plethora of scandals, combined with the fact that T. Rowe Price funds continue to outperform the majority of their Lipper averages, indicates the company, and its investors, should continue to benefit for some time.

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Fool contributor Mike Cianciolo welcomes feedback and doesn't own shares of T. Rowe Price.