Raymond James Financial Reports April 2022 Operating Data

Rhea-AI Summary

Raymond James Financial, Inc. (NYSE: RJF) reported selected operational metrics for April 2022, indicating continued strong advisor retention and recruitment. However, client assets decreased to $1,183.9 billion, down 6% from the previous month, influenced by equity market declines. The company noted healthy investment banking pipelines, but M&A and underwriting activities slowed due to geopolitical and macroeconomic uncertainties. Key metrics indicated a 23% increase in net bank loans and a 20% rise in cash sweep balances year-over-year.

Positive

• Client assets in fee-based accounts increased 8% year-over-year.
• Raymond James Bank loans, net up 23% year-over-year.
• Cash sweep balances rose 20% compared to April 2021.

Negative

• Client assets decreased 6% from March 2022.
• Financial assets under management fell 2% year-over-year.

ST. PETERSBURG, Fla., May 24, 2022 (GLOBE NEWSWIRE) -- Raymond James Financial, Inc. (NYSE: RJF) today reported selected operating data for April 2022, in an effort to provide timely information to investors about monthly developments in certain key performance metrics. Due to the limited nature of this data, a consistent correlation to earnings should not be assumed.

“While advisor retention and recruiting remained strong across our multiple affiliation options, client assets decreased compared to the preceding month primarily driven by declines in the equity markets,” said Chair and CEO Paul Reilly. “Investment banking pipelines are healthy, but M&A and underwriting activity has slowed significantly across the industry due to geopolitical and macroeconomic uncertainties.”

Selected Key Metrics

		As of						% change from
$ in billions		April 30, 2022		April 30, 2021		March 31, 2022		April 30, 2021		March 31, 2022
Client assets under administration		$            1,183.9		$            1,128.7		$            1,256.1		5%		(6)%
Private Client Group assets under administration		$            1,126.0		$            1,068.4		$            1,198.3		5%		(6)%
Private Client Group assets in fee-based accounts		$               638.3		$               591.5		$               678.0		8%		(6)%
Financial assets under management		$               181.9		$               185.3		$               193.7		(2)%		(6)%
Raymond James Bank loans, net		$                 28.5		$                 23.1		$                 27.9		23%		2%
Clients’ domestic cash sweep balances		$                 73.9		$                 61.7		$                 76.5		20%		(3)%

 

About Raymond James Financial, Inc.

Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has approximately 8,700 financial advisors. Total client assets are $1.18 trillion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at www.raymondjames.com.

FAQ

What are the April 2022 client assets reported by Raymond James Financial (RJF)?

As of April 30, 2022, Raymond James Financial reported client assets under administration of $1,183.9 billion.

How did Raymond James Financial's bank loans perform in April 2022?

Raymond James Bank loans, net increased by 23% year-over-year, reaching $28.5 billion.

What caused the decline in client assets for Raymond James Financial in April 2022?

The decline was primarily driven by decreases in equity markets and resulted in a 6% decrease in client assets compared to March 2022.

What does Raymond James Financial (RJF) project for its investment banking activity?

While investment banking pipelines remain healthy, M&A and underwriting activity has slowed significantly due to geopolitical and macroeconomic uncertainties.