As regular readers will know, we report on the steady moves of advisors to the various groups affiliated with, or directly part of, the Raymond James business.

Raymond James, the US wealth and financial services group operating in a number of jurisdictions, yesterday reported record net revenues of $2.87 billion and net income available to common shareholders of $425 million, or $1.93 per diluted share, for the fiscal second quarter ended March 31, 2023. 

Net revenue rose 7 per cent year-on-year, while the net income figure was up 32 per cent over the same timeframe, the firm, which is based in St Petersburg (pictured), said.

In the private client group segment, it booked net new assets of $21.5 billion for the fiscal second quarter, equating to an 8.4 per cent annualized growth rate. Quarterly net revenues, at $2.14 billion, rose 12 per cent on a year ago, and up 4 per cent from the previous quarter. Pre-tax income surged 107 per cent. 

Private client group assets under administration stood of $1.17 trillion, down 2 per cent from March 2022 and up 5 per cent over December 2022. Assets in fee-based accounts were $666.3 billion, down 2 per cent from the end of March last year.