Raymond James Financial Reports February 2022 Operating Data

Rhea-AI Summary

Raymond James Financial, Inc. (NYSE: RJF) reported key operating metrics for February 2022, revealing client assets under administration reached $1.238 trillion, a 17% increase year-over-year. Private Client Group assets also grew 17% to $1.180 trillion. However, investment banking revenues saw a decline due to macroeconomic uncertainties. Despite a strong M&A pipeline, the outlook remains cautious as client assets in fee-based accounts showed a slight decline of 1% compared to January. Overall, total client assets stood at $1.24 trillion, reflecting substantial growth.

Positive

• Client assets under administration increased by 17% year-over-year to $1.238 trillion.
• Private Client Group assets grew by 17% to $1.180 trillion.
• Financial assets under management rose by 10% to $191.5 billion.

Negative

• Investment banking revenues declined compared to the previous year and quarter.
• Client assets in fee-based accounts decreased by 1% from January 2022.

ST. PETERSBURG, Fla., March 23, 2022 (GLOBE NEWSWIRE) -- Raymond James Financial, Inc. (NYSE: RJF) today reported selected operating data for February 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.

“Our client-focused culture and award-winning technology platform continue to support strong financial advisor retention and drive robust recruiting momentum across our multiple affiliation options,” said Chair and CEO Paul Reilly. “Although our M&A pipeline remains strong, macroeconomic and geopolitical uncertainty have contributed to a decline in investment banking revenues during the first two months of the quarter compared to the first two months of the prior-year quarter and preceding quarter.”

Selected Key Metrics

$ in billions		As of						% change from
		February 28, 2022		February 28, 2021		January 31, 2022		February 28, 2021		January 31, 2022
Client assets under administration(1)		$            1,238.1		$            1,059.6		$            1,245.4		17%		(1)%
Private Client Group assets under administration(1)		$            1,180.0		$            1,005.3		$            1,188.4		17%		(1)%
Private Client Group assets in fee-based accounts(1)		$               665.0		$               549.1		$               673.1		21%		(1)%
Financial assets under management		$               191.5		$               173.5		$               194.1		10%		(1)%
Raymond James Bank loans, net		$                 27.2		$                 22.3		$                 26.6		22%		2%
Clients’ domestic cash sweep balances		$                 74.7		$                 62.5		$                 74.3		20%		1%

 (1) These metrics include the impact from the acquisition of Charles Stanley Group PLC, which closed on January 21, 2022.  As of February 28, 2022 and January 31, 2022, the impact on client assets under administration and Private Client Group assets under administration was $33 billion and $34 billion, respectively, and the impact on Private Client Group assets in fee-based accounts was $21 billion and $22 billion, respectively.

 

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 $1.24 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 were Raymond James Financial's client assets as of February 2022?

Raymond James Financial reported client assets under administration of $1.238 trillion as of February 28, 2022.

How much did Private Client Group assets grow in February 2022?

Private Client Group assets grew by 17% year-over-year to $1.180 trillion as of February 28, 2022.

Did Raymond James Financial experience any revenue decline?

Yes, investment banking revenues declined during the first two months of the quarter compared to the first two months of the prior year.

What is the total client asset figure for Raymond James Financial?

As of February 28, 2022, total client assets stood at $1.24 trillion.

Was there any change in client assets in fee-based accounts?

Yes, client assets in fee-based accounts saw a decrease of 1% from January 2022.