Skip to content
AnalystLens

Raymond James Financial 8-K Report, Regulation FD Disclosure (Mar 20, 2024)

Reports
Regulation FD·Exhibits & Filings
Filing Date
Filed March 20, 2024
Period End
March 20, 2024
Security
RJF
In the record · 2016–202610-K1010-Q338-K266

RJF filed 10 annual reports (10-K), 33 quarterly reports (10-Q) and 266 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Jun ’16Jun ’16
  2. Material agreement8-K · Feb ’19Feb ’19
  3. Leadership change8-K · Dec ’22Dec ’22
  4. Leadership change8-K · Sep ’26Sep ’26

01—Abstract

Summary

Summary of the 8-K filed March 20, 2024. Cited figures are marked; the original filing is the authoritative source.

Raymond James Financial, Inc. furnished an 8-K on March 20, 2024 under Item 7.01 (Regulation FD) that discloses selected operating data for February 2024.

The company states that the data is provided for timely insight into monthly developments and that, given its limited nature, a consistent correlation to earnings should not be assumed. The accompanying press release attributes record client assets under administration of $1.42 trilliona to strong advisor retention and recruiting results together with equity market appreciation. As of February 29, 2024, client assets under administration were $1,416.1 billion, up 18% from February 28, 2023 and up 3% from January 31, 2024.

Private Client Group assets under administration were $1,357.6 billionb, and Private Client Group assets in fee-based accounts were $775.4 billion. Financial assets under management were $220.5 billion, up 16% year over year and 3% month over month. Bank loans, net, were $44.0 billion, up 1% year over year and flat from January 31, 2024.

Clients' domestic cash sweep and Enhanced Savings Program (ESP) balances totaled $58.2 billionc, up 13% year over year and 1% from January 31, 2024. Management stated that cash sweep balances rose to $43.2 billion and ESP balances rose to $15.0 billion during the month.

Chair and CEO Paul Reilly also said investment banking pipelines remain healthy and that closings began to improve in February. The filing states the company has approximately 8,700 financial advisors.

02—Key points

Key Highlights

  1. Client assets under administration reached $1,416.1 billion at February 29, 2024, up 18% year over year and 3% from January 31, 2024; the CEO cited record levels.
  2. Private Client Group assets under administration were $1,357.6 billion, up 18% year over year and 3% month over month.
  3. Private Client Group assets in fee-based accounts were $775.4 billion, up 19% year over year and 3% month over month.
  4. Financial assets under management were $220.5 billion, up 16% year over year and 3% month over month.
  5. Clients' domestic cash sweep and ESP balances totaled $58.2 billion, up 13% year over year and 1% month over month; cash sweep rose to $43.2 billion and ESP to $15.0 billion.
  6. Bank loans, net, were $44.0 billion, up 1% year over year and unchanged from January 31, 2024.
  7. Management said investment banking pipelines remain healthy and closings began to improve in February.

03—Questions

Frequently Asked Questions

  1. What did Raymond James disclose in this filing?

    The company furnished under Item 7.01 a press release reporting selected operating data for February 2024. The filing states the information is furnished and not deemed filed under Section 18 of the Securities Exchange Act of 1934.

  2. How did client assets under administration change in February 2024?

    Client assets under administration were $1,416.1 billion at February 29, 2024, up 18% from February 28, 2023 and up 3% from January 31, 2024. The CEO described this as record client assets under administration, attributing it to advisor retention and recruiting results and equity market appreciation.

  3. Should these monthly metrics be used to predict earnings?

    No. The press release states that, due to the limited nature of this data, a consistent correlation to earnings should not be assumed.

  4. What trends did management highlight for cash balances and investment banking?

    Clients' domestic cash sweep and ESP balances were $58.2 billion, up 13% year over year and 1% month over month. Cash sweep balances increased to $43.2 billion and ESP balances increased to $15.0 billion. Management said investment banking pipelines remain healthy and that closings began to improve in February.

  5. How many financial advisors does the company have?

    The press release's company description states that Raymond James has approximately 8,700 financial advisors.

04—Continue

← View all 8-K filings