Raymond James Feb 2024: record client AUA $1.42T, cash sweep +13% YoY

RAYMOND JAMES FINANCIAL INC

Record client assets under administration of $1.416T, up 18% YoY and 3% MoM.
Private Client Group fee-based accounts rose 19% YoY to $775.4B.
Domestic cash sweep + ESP balances reached $58.2B, up 13% YoY and 1% MoM.
Investment banking pipelines healthy; improvement in closings noted in February.
Strong advisor retention and recruiting results contributed to growth.

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