Revenues, Profits Rise At Raymond James

Editorial Staff

28 July 2023

Raymond James, the US wealth management group, this week said that net revenues in the three months ending June 30 rose 7 per cent year-on-year to $2.91 billion. Net income attributable to common shareholders was $369 million, rising 23 per cent.

The St Petersburg , Florida-based firm said its rise in net income was mainly due to higher net interest income and fees from third-party banks which were partially offset by elevated provisions for legal and regulatory matters.

The firm said it logged record private client group assets under administration of $1.23 trillion, rising 15 per cent compared with June 2022 and 5 per cent over March 2023.

In fee-based accounts, there were record private client group assets of $697.0 billion, up 15 per cent compared with June 2022 and rising 5 per cent over March this year, it said.