Raymond James kicks off 2022 with hitting new records
January 27, 2022 - St. Petersburg-based Raymond James Financial Inc. (NYSE: RJF) reported net revenues of $2.78 billion and net income of $446 million, or $2.10 per diluted share, for the fiscal first quarter that ended Dec. 31. “Fiscal 2022 started off strong with record results this quarter, including net income growth of 43% over the fiscal first quarter of 2021, driven by record asset management and related administrative fees and record investment banking revenues,” Chairman and CEO Paul Reilly said in a statement. “Furthermore, we are well-positioned entering the fiscal second quarter, with record client assets under administration of $1.26 trillion, record financial assets under management of $203.2 billion, record net loans at Raymond James Bank of $26.1 billion, and strong activity levels for both financial advisor recruiting and investment banking. We also ended the quarter with record clients’ domestic cash sweep balances which should bode well with the anticipated rise in short-term interest rates.” Last week, Raymond James completed the acquisition of U.K.-based Charles Stanley Group. It resulted in adding approximately $36 billion in client assets, With the acquisition, Raymond James Investment Services and Charles Stanley serve clients in the U.K. with approximately $57 billion in client assets.