Stifel reports Oct total client assets of $404.1B, down 2% from Sept

STIFEL FINANCIAL CORP

Total client assets $404.1B, down 2% MoM (Sept $412.5B) but up 6% YoY.
Fee-based client assets $147.7B, down 2% MoM; Private Client Group fee-based $129.7B.
Bank loans net $20.7B, up 1% MoM; client money market/insured product $25.2B, down 1% MoM.
CEO cites lower equity markets for MoM declines, but notes continued strength in recruiting.
Client cash levels increased modestly from Sept due to growth in money market funds and T-bills.

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