Financial

    Raymond James Financial reports record $1.54T in client assets

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    Raymond James Financial (NYSE:RJF) announced key operating data for August 2024 today, highlighting notable growth in its performance metrics.

    According to Raymond James, client assets under administration surged 19% year-over-year, reaching a new record of $1.54 trillion.

    This growth also marks a 2% increase from the previous month, driven largely by robust advisor retention and successful recruitment, alongside an uptick in equity market values.

    In addition to asset growth, Raymond James reported an increase in clients' domestic cash sweep and Enhanced Savings Program (ESP) balances.

    Over the past month, cash sweep balances rose to $42.2 billion, and ESP balances climbed to $14.1 billion, both reflecting a 1% increase.

    Following the announcement, Raymond James Financial's share price climbed over 1% to $125.29.

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