01—Abstract
Summary
Summary of the 8-K filed May 21, 2025. Cited figures are marked; the original filing is the authoritative source.
Raymond James Financial, Inc. (NYSE: RJF) furnished a Current Report on Form 8-K dated May 21, 2025, under Item 7.01 (Regulation FD Disclosure), attaching a press release that reports selected operating data for April 2025.
The company states the data is provided for timely monthly information and that a consistent correlation to earnings should not be assumed given its limited nature. The information is furnished rather than filed for purposes of Section 18 of the Exchange Act. The key April 2025 figures are: client assets under administration of $1,530.7 billiona, up 9% year over year and flat versus March 31, 2025; Private Client Group assets under administration of $1,469.5 billion, up 9% year over year; Private Client Group assets in fee-based accounts of $873.3 billion, up 12% year over year; and financial assets under management of $245.5 billion, up 12% year over year.
Bank loans, net, were $48.8 billionb, up 10% year over year and up 1% from March 31, 2025. Clients' domestic cash sweep and Enhanced Savings Program balances declined to $55.6 billion, down 1% year over year and down 4% sequentially. CEO Paul Shoukry attributed the April decline to quarterly fee billings and seasonal tax payments, and said the timing of investment banking closings has been affected by macroeconomic uncertainty, although the pipeline remains strong.
02—Key points
Key Highlights
- Client assets under administration reached $1,530.7 billion at April 30, 2025, up 9% from April 30, 2024 and flat versus March 31, 2025.
- Private Client Group assets in fee-based accounts were $873.3 billion, up 12% year over year.
- Financial assets under management totaled $245.5 billion, up 12% year over year.
- Bank loans, net, were $48.8 billion, up 10% year over year and up 1% from March 31, 2025.
- Clients' domestic cash sweep and Enhanced Savings Program balances declined 4% sequentially to $55.6 billion, reflecting quarterly fee billings and seasonal tax payments.
- Management said investment banking closings have been delayed by macroeconomic uncertainty, though the pipeline remains strong.
- The company notes that this monthly operating data has limited scope and a consistent correlation to earnings should not be assumed.
03—Questions
Frequently Asked Questions
What did Raymond James disclose in this 8-K filing?
The company furnished under Item 7.01 a press release dated May 21, 2025, reporting selected operating data for April 2025, including client assets, fee-based account assets, financial assets under management, bank loans and cash sweep balances.
How did client assets under administration perform in April 2025?
Client assets under administration were $1,530.7 billion, up 9% from April 30, 2024 and flat compared with March 31, 2025, according to the press release.
Why did cash sweep and Enhanced Savings Program balances decline?
Clients' domestic cash sweep and ESP balances of $55.6 billion fell 1% year over year and 4% sequentially. The CEO attributed the April decline to quarterly fee billings and seasonal tax payments.
What does management say about investment banking?
The CEO said the timing of investment banking closings has been affected by macroeconomic uncertainty, although the company's pipeline remains strong.
Should investors expect this monthly data to track quarterly earnings?
The company states that, given the limited nature of this data, a consistent correlation to earnings should not be assumed.
04—Continue