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

Reports
Regulation FD·Exhibits & Filings
Filing Date
Filed November 20, 2024
Period End
November 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 November 20, 2024. Cited figures are marked; the original filing is the authoritative source.

Raymond James Financial, Inc. (NYSE: RJF) furnished this Form 8-K under Item 7.01 (Regulation FD Disclosure) on November 20, 2024, attaching a press release that reports selected operating data for October 2024.

The company states that the data is provided for timely monthly insight and that a consistent correlation to earnings should not be assumed. Client assets under administration were $1,543.9 billiona at October 31, 2024, up 25% year-over-year from $1,239.2 billion but down 2% from $1,571.1 billion at September 30, 2024. Chair and CEO Paul Reilly attributed the monthly decline primarily to lower equity markets in October and to the previously announced departure of predominantly one large independent branch, which the company said was offset in part by strong recruiting and retention.

Domestic cash sweep and Enhanced Savings Program balances were essentially flat month over month at $57.9 billionb, up 2% year-over-year. Other metrics were mixed. Financial assets under management were $241.1 billion, up 23% year-over-year and down 2% from September.

Private Client Group fee-based account assets were $862.8 billionc, up 29% year-over-year and down 1% from September. Bank loans, net, were $46.2 billion, up 5% year-over-year and flat from September. Management described its investment banking pipeline and activity levels as healthy.

02—Key points

Key Highlights

  1. Client assets under administration reached $1,543.9 billion at October 31, 2024, up 25% year-over-year but down 2% from September 30, 2024.
  2. Management attributed the monthly decline mainly to lower equity markets in October and the previously announced departure of predominantly one large independent branch.
  3. Private Client Group fee-based account assets were $862.8 billion, up 29% year-over-year and down 1% month over month.
  4. Financial assets under management were $241.1 billion, up 23% year-over-year and down 2% from September 30, 2024.
  5. Clients' domestic cash sweep and Enhanced Savings Program balances were $57.9 billion, flat from September and up 2% year-over-year.
  6. Bank loans, net, were $46.2 billion, up 5% year-over-year and unchanged from September 30, 2024.
  7. The company described its investment banking pipeline and activity levels as healthy and said the operating data should not be assumed to correlate consistently with earnings.

03—Questions

Frequently Asked Questions

  1. What did Raymond James disclose in this 8-K filing?

    The company furnished under Item 7.01 (Regulation FD Disclosure) a press release dated November 20, 2024, reporting selected operating data for October 2024. The information is furnished, not filed, for purposes of Section 18 of the Securities Exchange Act of 1934.

  2. Why did client assets under administration decline in October 2024?

    Client assets under administration fell 2% from September 30, 2024 to $1,543.9 billion. CEO Paul Reilly attributed the decline primarily to lower equity markets in October and the previously announced departure of predominantly one large independent branch, despite strong recruiting and retention.

  3. How did cash sweep and Enhanced Savings Program balances change?

    Clients' domestic cash sweep and Enhanced Savings Program balances ended October 2024 at $57.9 billion, unchanged from September 30, 2024 and up 2% from October 31, 2023. Reilly said inflows offset quarterly fee billings.

  4. Should investors treat this monthly data as a proxy for earnings?

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

04—Continue

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