Stifel reports July 2023 client assets up 8% YoY to $426.7B; cash sorting slows

STIFEL FINANCIAL CORP

Total client assets $426.7B, up 8% from $394.7B YoY and 2% from June 2023.
Fee-based client assets $158.0B, up 6% YoY; Private Client Group fee-based $138.7B, up 6%.
Client money market/insured product $25.0B, down 4% YoY; cash sorting continues to slow.
Bank loans $20.8B, up 4% YoY; recruiting activity very strong per CEO Kruszewski.
Ranked No. 1 in employee advisor segment of J.D. Power 2023 U.S. Financial Advisor Satisfaction Study.

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