Raymond James Oct 2024 client assets up 25% YoY, down 2% MoM on market decline

RAYMOND JAMES FINANCIAL INC

Client assets under administration $1,543.9B, +25% YoY; down 2% from Sep due to lower equity markets.
Fee-based account assets $862.8B, +29% YoY; down 1% MoM.
Cash sweep and ESP balances $57.9B, flat MoM; inflows offset quarterly fee billings.
CEO cites departure of one large independent branch as headwind; recruiting/retention strong.
Investment banking pipeline described as healthy with active deal flow.

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