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Raymond James reports record net revenues of $9.76B this fiscal year

Veronica Brezina

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Raymond James Financial headquarters in Carillon in St. Petersburg

St. Petersburg-based Raymond James Financial Inc. (NYSE: RJF) reported net revenues of $9.76 billion and net income of $1.40 billion for the fiscal year 2021 – hitting a new record. 

The quarterly earnings released Thursday indicate the firm generated a net income of $429 million, or $2.02 per diluted share, this fourth quarter. The earnings call also reflected Raymond James’ performance through the fiscal year.  

“In fiscal 2021, we’ve proven once again that focusing on our time-tested client-first strategy of providing outstanding service to our advisors and their clients will guide us through the uncertain market, economic and global conditions, in this case in record-setting fashion,” said Chairman and CEO Paul Reilly. “Through a combination of diverse and complementary businesses, we generated record results for the firm in fiscal 2021.” 

The record results of the fiscal year included record net revenues and pre-tax income in the private client group, capital markets and asset management segments.

The firm also reported a quarter-end record for client assets under administration of $1.18 trillion. 

Reilly said Raymond James is “well-positioned entering fiscal 2022, with strong capital ratios and quarter-end records for client assets, the number of private client group financial advisors and net loans at Raymond James Bank.” 

Earlier this year, Raymond James has initiated and closed on several major acquisitions. 

Last week, the firm announced it was going to acquire TriState Capital Holdings in a $1.1 billion deal.

TriState Capital is the nation’s leading provider of securities-based loans for clients of independent investment, and through a branchless bank model it has over $12 billion in assets. 

Raymond James also announced it was acquiring the entire share capital of London-based wealth management firm Charles Stanley Group PLC in a $387 million deal

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