Stifel reports record client assets of $481.5B as of July 31, 2024, up 13% YoY

STIFEL FINANCIAL CORP

Total client assets $481.5B (record), +13% YoY; fee-based client assets $183.4B, +16% YoY.
Bank loans net $20.3B, up 2% from June; driven by Fund Banking, C&I, and residential mortgage.
Client money market/insured product $26.3B, up 5% YoY; CEO notes cash sorting slowing.
Private Client Group fee-based assets $160.5B, +16% YoY and +2% from June.
July results reflect continued market appreciation and solid recruiting, per CEO.

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