Raymond James Financial Reports July 2022 Operating Data

Rhea-AI Summary

Raymond James Financial (NYSE: RJF) reported its selected operating data for July 2022, highlighting a 1% increase in client assets under administration to $1,189.3 billion compared to July 2021. Private Client Group assets also rose 1% to $1,131.8 billion. However, financial assets under management saw a 1% decrease to $192.4 billion. The decline in clients’ domestic cash sweep balances, down 4% from June, reflects quarterly fee payments. Despite subdued revenues in fixed income brokerage, the M&A pipeline remains robust.

Positive

• Client assets under administration increased by 1% year-over-year.
• Private Client Group assets rose by 1% compared to the previous year.
• Bank loans net surged by 73% year-over-year.

Negative

• Financial assets under management decreased by 1% from the previous year.
• Clients’ domestic cash sweep balances declined by 4% compared to the previous month.

ST. PETERSBURG, Fla., Aug. 24, 2022 (GLOBE NEWSWIRE) -- Raymond James Financial, Inc. (NYSE: RJF) today reported selected operating data for July 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.

“Client assets increased over the preceding month driven by equity market appreciation and strong advisor retention and recruiting across our multiple affiliation options,” said Chair and CEO Paul Reilly. “As previously disclosed, clients’ domestic cash sweep balances declined in July due to quarterly fee payments and cash sorting activity. In the Capital Markets segment, fixed income brokerage and investment banking revenues remained subdued in July, although the M&A pipeline is healthy.”

Selected Key Metrics

		As of						% change from
$ in billions		July 31, 2022		July 31, 2021		June 30, 2022		July 31, 2021		June 30, 2022
Client assets under administration		$            1,189.3		$            1,180.4		$            1,125.3		1%		6%
Private Client Group assets under administration		$            1,131.8		$            1,117.7		$            1,068.8		1%		6%
Private Client Group assets in fee-based accounts		$               643.0		$               627.3		$               606.7		3%		6%
Financial assets under management		$               192.4		$               194.4		$               182.4		(1)%		5%
Bank loans, net		$                 42.3		$                 24.5		$                 41.8		73%		1%
Clients’ domestic cash sweep balances		$                 72.6		$                 63.0		$                 75.8		15%		(4)%

 

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 8,600 financial advisors. Total client assets are $1.19 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 key client asset metrics reported by RJF for July 2022?

As of July 31, 2022, client assets under administration were $1,189.3 billion, and Private Client Group assets were $1,131.8 billion.

Did Raymond James Financial experience any changes in domestic cash sweep balances in July 2022?

Yes, clients’ domestic cash sweep balances declined by 4% from the previous month, totaling $72.6 billion.

What was the change in financial assets under management for RJF in July 2022?

Financial assets under management decreased by 1% year-over-year, amounting to $192.4 billion.

How did bank loans perform for RJF in July 2022?

Bank loans net grew significantly by 73% year-over-year, reaching $42.3 billion.

What does the M&A pipeline outlook look like for Raymond James Financial?

The M&A pipeline remains healthy, although fixed income brokerage and investment banking revenues were subdued in July.