01—Abstract
Summary
Summary of the 8-K filed November 19, 2025. Cited figures are marked; the original filing is the authoritative source.
Raymond James Financial, Inc. (NYSE: RJF) furnished an 8-K on November 19, 2025, under Item 7.01 (Regulation FD Disclosure) attaching a press release that reports selected operating data for October 2025.
The company describes the data as a timely monthly update on key performance metrics and cautions that, given its limited nature, a consistent correlation to earnings should not be assumed. The information is furnished rather than filed for purposes of Section 18 of the Exchange Act. According to the press release, client assets under administration reached a record $1.75 trilliona as of October 31, 2025, up 13% year-over-year and 1% from September 30, 2025, which CEO Paul Shoukry attributed primarily to higher equity markets and net asset inflows.
Private Client Group assets under administration were $1,686.7 billionb, and Private Client Group assets in fee-based accounts were $1,023.4 billion, up 19% year-over-year. Financial assets under management were $276.7 billion, up 15% year-over-year. Bank loans, net, were $51.8 billion, up 12% year-over-year and flat sequentially.
Clients' domestic cash sweep and Enhanced Savings Program balances were $55.5 billionc, down 4% year-over-year and down 2% sequentially; Mr. Shoukry said inflows partially offset the impact of quarterly fee billings. He also noted that the pipelines for advisor recruiting and investment banking remain strong.
02—Key points
Key Highlights
- Client assets under administration reached a record $1.75 trillion at October 31, 2025, up 13% year-over-year and 1% from September 30, 2025.
- Private Client Group assets in fee-based accounts totaled $1,023.4 billion, up 19% year-over-year and 2% sequentially.
- Financial assets under management were $276.7 billion, up 15% year-over-year and 1% sequentially.
- Bank loans, net, were $51.8 billion, up 12% year-over-year and flat sequentially.
- Clients' domestic cash sweep and Enhanced Savings Program balances were $55.5 billion, down 4% year-over-year and down 2% sequentially, as inflows partially offset quarterly fee billings.
- Management said the pipelines for advisor recruiting and investment banking remain strong.
- The company cautioned that because this operating data is limited in nature, 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 a press release under Item 7.01 (Regulation FD Disclosure) reporting selected operating data for October 2025, including client assets, fee-based account assets, financial assets under management, bank loans, and cash sweep balances.
How much did client assets under administration grow?
Client assets under administration reached a record $1.75 trillion as of October 31, 2025, up 13% from October 31, 2024 and up 1% from September 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?
Clients' domestic cash sweep and Enhanced Savings Program balances declined 2% sequentially to $55.5 billion, and the company said inflows partially offset the impact of quarterly fee billings. Year-over-year, balances were down 4%.
Should investors expect these monthly metrics to track earnings?
The company stated that, due to the limited nature of this data, a consistent correlation to earnings should not be assumed. The information is furnished and not deemed filed for purposes of Section 18 of the Exchange Act.
04—Continue