Raymond James Financial, Inc. (NYSE: RJF) has released its May 2025 operating data, showcasing robust growth in key financial metrics despite ongoing economic uncertainties. This report provides investors with timely insights into the firm’s performance, highlighting significant year-over-year and sequential improvements in client assets and banking activities.
Client Assets Under Administration: Increased to $1.583 trillion, marking a 9% growth compared to May 2024 and a 3% rise from April 2025. This growth is primarily driven by higher equity markets and net asset inflows.
Private Client Group Assets: Rose to $1.521 trillion, reflecting a 9% year-over-year increase and a 3% sequential gain.
Fee-Based Accounts: Private Client Group assets in fee-based accounts surged 13% year-over-year to $909.1 billion, with a 4% increase from the previous month.
Financial Assets Under Management: Climbed 12% year-over-year to $254.2 billion, with a 4% sequential increase.
Bank Loans, Net: Expanded 11% year-over-year to $49.1 billion, showing a 1% increase from April 2025.
Clients’ Domestic Cash Sweep and Enhanced Savings Program Balances: Declined 4% year-over-year to $54.2 billion and 3% sequentially, reflecting shifts in client cash management strategies.
Raymond James continues to demonstrate resilience and growth in a challenging financial environment. The firm’s assets under administration have consistently grown, supported by strong equity markets and effective asset inflows. The 9% year-over-year increase in client assets under administration aligns with the firm’s historical performance trends, as noted in their Q3 2024 earnings call where total client assets reached $1.48 trillion, driven by rising equity markets and solid advisor retention.
The 13% growth in fee-based accounts and 12% increase in financial assets under management underscore Raymond James’ successful strategy in expanding its wealth management services. This is complemented by an 11% rise in net bank loans, indicating cautious but steady lending activity despite higher interest rates and economic uncertainties.
However, the decline in clients’ domestic cash sweep and Enhanced Savings Program balances suggests a strategic shift in liquidity management, possibly influenced by changing interest rate environments and client preferences.
Return on Equity (ROE): 4.39%
Operating Cash Flow to Sales: 18.9%
Debt to Equity Ratio: 3.51
Net Profit Margin: 13.08%
Operating Margin: 22.25%
Revenue Growth (1 Year): 3.41%
Assets to Equity: 1.14
These metrics reflect Raymond James’ solid financial foundation and operational efficiency, supporting its capacity to sustain growth and navigate market challenges.
CEO Paul Shoukry emphasized the firm’s commitment to client-first values and technology-driven growth, stating, “Client assets under administration grew 9% year-over-year and 3% over the preceding month primarily due to higher equity markets and net asset inflows.” He also highlighted the strength of the investment banking pipeline, noting the difficulty in timing closings but expressing optimism about future opportunities.
The firm’s strategic focus on recruiting high-quality financial advisors and expanding its Private Client Group has been a consistent theme in recent earnings calls, contributing to its robust asset growth and market position.
Raymond James Financial’s May 2025 operating data reveals a company well-positioned for continued growth and resilience in the financial services sector. With strong asset growth, effective client retention, and a solid financial base, the firm is navigating economic uncertainties with strategic agility.
For investors and market watchers, these developments underscore Raymond James’ potential for sustained performance and value creation.
Source Document: Raymond James Financial May 2025 Operating Data 8-K
RJF, Raymond James Financial, May 2025, Client Assets Growth, Financial Services Performance, Investment Banking Pipeline