The firm has been busy with bringing more wealth management advisors into its network.

Raymond James yesterday reported quarterly net revenues of $2.83 billion in the quarter to end-September, a 5 per cent year-on-year gain. 

Net income available to common shareholders was $437 million, rising 2 per cent on a year before.

Quarterly adjusted net income available to common shareholders was $459 million.

“Notwithstanding the challenging and volatile market environment during the fiscal year, we generated record results with annual net revenues and pre-tax income growth of 13 per cent, which was driven by strong organic growth, particularly in the private client group segment, the benefit of higher short-term interest rates and, most importantly, our advisors’ and associates’ unwavering focus on always putting their clients first,” chairman and CEO Paul Reilly said.

Private client group assets under administration of $1.04 trillion, falling 7 per cent compared to September 2021 and 3 per cent compared to June 2022. In fee-based accounts, assets fell 7 per cent to $586.0 billion.