01—Abstract
Summary
Summary of the 8-K filed August 20, 2025. Cited figures are marked; the original filing is the authoritative source.
Raymond James Financial, Inc. (NYSE: RJF) furnished an 8-K on August 20, 2025 containing Exhibit 99.1, a press release disclosing selected operating data for July 2025.
The company describes the data as providing timely monthly information on key performance metrics and notes that, due to its limited nature, a consistent correlation to earnings should not be assumed. This is an operating-metrics update rather than an earnings report, and the filing states that the information is furnished under Item 7.01 and not deemed filed for purposes of Section 18 of the Exchange Act. CEO Paul Shoukry said client assets under administration reached a record $1,653.4 billiona as of July 31, 2025, up 10% year-over-year and 1% from June 30, 2025, primarily due to higher equity markets and net asset inflows.
He also said advisor recruiting remained robust and the investment banking pipeline remained strong. Financial assets under management were $264.3 billionb, up 13% year-over-year, and bank loans, net were $49.7 billion, up 9% year-over-year. Clients' domestic cash sweep and Enhanced Savings Program balances were $54.8 billion, down 2% year-over-year and 1% sequentially.
The company attributed the sequential decline of $400 millionc to quarterly fee billings of approximately $1.7 billion, partially offset by net inflows. Private Client Group fee-based account assets were $956.5 billion, up 14% year-over-year.
02—Key points
Key Highlights
- Client assets under administration reached a record $1,653.4 billion at July 31, 2025, up 10% year-over-year and 1% from June 30, 2025.
- Private Client Group assets under administration were $1,591.8 billion, up 10% year-over-year and 1% sequentially.
- Private Client Group assets in fee-based accounts were $956.5 billion, up 14% year-over-year and 1% sequentially.
- Financial assets under management were $264.3 billion, up 13% year-over-year and flat sequentially.
- Bank loans, net were $49.7 billion, up 9% year-over-year and flat sequentially.
- Clients' domestic cash sweep and Enhanced Savings Program balances were $54.8 billion, down 2% year-over-year and 1% sequentially, with a sequential decline of $400 million reflecting quarterly fee billings of approximately $1.7 billion partially offset by net inflows.
- Management stated that advisor recruiting remained robust and the investment banking pipeline remained strong.
03—Questions
Frequently Asked Questions
What did Raymond James report in this 8-K filing?
The company furnished a press release (Exhibit 99.1) dated August 20, 2025, disclosing selected operating data for July 2025. The filing states the information is furnished under Item 7.01 and is not deemed filed under Section 18 of the Exchange Act.
How much did client assets under administration grow?
Client assets under administration were $1,653.4 billion as of July 31, 2025, up 10% from July 31, 2024 and up 1% from June 30, 2025. Management attributed the growth primarily to higher equity markets and net asset inflows.
Why did cash sweep and Enhanced Savings Program balances decline?
Balances of $54.8 billion were down 2% year-over-year and 1% sequentially. The company said the sequential decline of $400 million reflected quarterly fee billings of approximately $1.7 billion, partially offset by net inflows.
Should investors expect these monthly metrics to track closely with earnings?
The company cautioned that, due to the limited nature of this data, a consistent correlation to earnings should not be assumed.
What were the company's other key operating metrics for July 2025?
Financial assets under management were $264.3 billion (up 13% year-over-year, flat sequentially), and bank loans, net were $49.7 billion (up 9% year-over-year, flat sequentially). Private Client Group assets in fee-based accounts were $956.5 billion (up 14% year-over-year).
04—Continue