Raymond James Financial, Inc. (NYSE: RJF) has reported its operating data for August 2024, showcasing some significant changes in key performance metrics.
Client assets under administration reached a new record of $1.54 trillion, marking a 19% increase compared to August 2023 and a 2% increase over the preceding month of July 2024.
Private Client Group assets under administration also saw a 19% increase year-over-year, reaching $1.474.1 billion, and a 2% increase over the preceding month.
Assets in fee-based accounts within the Private Client Group surged by 22% year-over-year, reaching $860.2 billion, and 2% over the preceding month.
Financial assets under management grew by 19% year-over-year, reaching $240.9 billion, and a 3% increase over the preceding month.
Bank loans, net increased by 6% year-over-year, reaching $45.8 billion as of August 31, 2024.
However, clients' domestic cash sweep and Enhanced Savings Program balances experienced a slight decline, reaching $56.3 billion, down 2% over the preceding month.
Raymond James Financial, Inc. continues to maintain its position as a leading diversified financial services company, with approximately 8,800 financial advisors and total client assets of $1.54 trillion.
The company's solid performance in client assets under administration, fee-based accounts, and financial assets under management demonstrates its ability to attract and retain clients while navigating market dynamics. As a result of these announcements, the company's shares have moved 1.0% on the market, and are now trading at a price of $125.39. For more information, read the company's full 8-K submission here.
