01—Abstract
Summary
Summary of the 8-K filed February 18, 2026. Cited figures are marked; the original filing is the authoritative source.
Raymond James Financial, Inc. (NYSE: RJF) furnished an 8-K on February 18, 2026 under Item 7.01 (Regulation FD) attaching a press release that reports selected operating data for January 2026.
The company describes the data as provided to give investors timely information on monthly developments in key metrics, and cautions that, given the limited nature of the data, a consistent correlation to earnings should not be assumed. As of January 31, 2026, client assets under administration were $1,803.8 billiona, up 13% year-over-year and 2% from December 31, 2025, which CEO Paul Shoukry attributed primarily to higher equity markets and net asset inflows. Private Client Group assets under administration were $1,739.6 billion, and Private Client Group assets in fee-based accounts were $1,062.4 billion, up 18% year-over-year.
Financial assets under management were $286.4 billionb, up 14% year-over-year. Bank loans, net, were $53.8 billion, up 13% year-over-year. Clients' domestic cash sweep and Enhanced Savings Program balances were $55.0 billion, down 5% sequentially and down 4% year-over-year.
Management said this decline was anticipated and reflected quarterly client fee billings collected in January and continued client reinvestment after the seasonal build-up in the prior month. Management also described the advisor recruiting pipeline as robust and the investment banking pipelines as strong.
02—Key points
Key Highlights
- Client assets under administration reached a record $1,803.8 billion at January 31, 2026, up 13% year-over-year and 2% from December 31, 2025.
- Private Client Group assets in fee-based accounts were $1,062.4 billion, up 18% year-over-year and 2% from the prior month.
- Financial assets under management were $286.4 billion, up 14% year-over-year and 2% sequentially.
- Bank loans, net, were $53.8 billion, up 13% year-over-year and 1% sequentially.
- Clients' domestic cash sweep and Enhanced Savings Program balances declined 5% sequentially to $55.0 billion, which management said was anticipated due to January fee billings and client reinvestment.
- Management characterized the advisor recruiting pipeline as robust and the investment banking pipelines as strong.
- The company states the monthly data is limited in nature and a consistent correlation to earnings should not be assumed.
03—Questions
Frequently Asked Questions
Why did Raymond James disclose monthly operating data?
The press release states the company is providing selected January 2026 operating data to give investors timely information about monthly developments in certain key performance metrics.
What drove the growth in client assets under administration?
CEO Paul Shoukry said the record $1.80 trillion in client assets under administration grew primarily due to higher equity markets and net asset inflows.
Why did clients' cash sweep and Enhanced Savings Program balances decline?
Management said the 5% sequential decline to $55.0 billion was anticipated and reflected client quarterly fee billings collected in January and continued client reinvestment following the seasonal build-up of balances in December.
Should investors expect January operating data to track earnings?
No. The company states that, due to the limited nature of this data, a consistent correlation to earnings should not be assumed.
How are the investment banking and advisor recruiting pipelines described?
Management said the advisor recruiting pipeline remains robust, with advisors drawn to the company's client-first culture and technology platform, and that the investment banking pipelines remain strong.
04—Continue