Raymond James Financial Sees 18% Growth in Client Assets

Raymond James Financial, Inc. (NYSE: RJF) released its operating data for May 2024, showing significant growth in various key performance metrics. The company reported that client assets under administration stood at $1,451.4 billion as of May 31, 2024, reflecting an 18% increase from the prior year and a 3% increase from the preceding month.

Within the Private Client Group, assets under administration also experienced substantial growth, reaching $1,391.7 billion, marking an 18% and 3% increase from the prior year and preceding month, respectively. Moreover, Private Client Group assets in fee-based accounts surged to $804.8 billion, showing a notable 21% increase from the prior year and a 4% increase from the preceding month.

Financial assets under management saw an increase, reaching $226.0 billion in May 2024, signifying a 17% and 3% increase from the prior year and preceding month, respectively. Bank loans, net, also experienced a slight increase to $44.4 billion, up 2% from the prior year.

However, there was a small decline in clients' domestic cash sweep and Enhanced Savings Program balances, which stood at $56.2 billion in May 2024, indicating a 2% decrease from the preceding month.

Raymond James Financial, Inc. continues to be a leading diversified financial services company, providing private client group, capital markets, asset management, banking, and other services to individuals, corporations, and municipalities. With approximately 8,800 financial advisors and total client assets amounting to $1.45 trillion, the company's performance in May 2024 reflects positive growth and momentum in key areas. Today the company's shares have moved 0.8% to a price of $118.96. If you want to know more, read the company's complete 8-K report here.

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