RJF · 10-Q · 2026Q2 · Full report

Wealth Management Growth

RAYMOND JAMES FINANCIAL INC · 2026-08-05 · Importance 48 · Surprise 40

Private Client Group asset management and related administrative fees increased 19% year over year in the quarter and 17% in the first nine months, driven by higher fee-based account assets, market appreciation, and net new assets from financial advisor recruiting and retention. Brokerage revenues increased 15% in the quarter and 13% year to date, reflecting higher client activity and higher trailing revenues from increased client asset values. Total domestic client cash sweep and ESP balances rose 7% year over year to $58.84 billion at June 30, 2026, although balances declined sequentially as more cash shifted into bank subsidiaries. The Asset Management segment reported 26% quarterly and 17% year-to-date growth in asset management fees, supported by PCG fee-based asset inflows and higher managed assets.