Raymond James Assets Jump
Raymond James Financial reported improved performance in client assets, according to newly-released operating data.
The firm saw assets under management rise 22.6% to $66.2 billion for August 2014, compared to the year-earlier period. This also marked a 3.4% increase from July.
Raymond James' client assets under administration also grew, going up 18.3% over last year's August to $489.9 billion. The firm's client assets also rose 2.4% from July, helped by the S&P 500 increasing 3.8% in August.
The Private Client Group and Asset Management segments continue to benefit from equity market appreciation and near-record recruitment and retention of financial advisors, Raymond James CEO Paul Reilly said in a statement. We remain focused on prudently growing all of our businesses.
Total securities commissions and fees increased 13.4% to $277.4 million over August 2013.This was down 2.7% from July, which had an additional trading day.
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