Raymond James: Advisor Fees, Commissions Up 20% in Early '11

The firm’s 5,300-plus FAs had total production or sales of $186 million in January 2011

Raymond James Financial  said late Wednesday that its 5,300-plus financial advisors had total fees and commissions of $186.2 million during January 2011 vs. production of $155.6 million in the same month of 2010 – an increase of 20%.

This represents sales of about $35,000 per advisor in January 2011 vs. $29,000 in the same month last year. If fees and commissions stay at this level for the next 11 months, advisors are on track for total sales in 2011 of $420,000 on average

Fees and commissions in January 2011, which had 20 trading days, were down about 4% from December 2010, which had 22 trading days. Accounting for the difference in t$he number of trading days, however, production improved slightly, according to the company.

“Overall, our performance continues to improve with the economy,” said CEO Paul Reilly (left), in a press release.  “Securities commissions and fees were up 20% over last year, and 6% over last month on a daily basis.” 

Client assets under administration stood at $266 billion as of Jan. 31, while assets under management (excluding money market funds) stood at $33.7 billion.

Assets under administration for January 2011 were up 16% from a year ago and nearly 2% from December 2010.

They totalled about $50 million per financial advisor.

Other Results

“Although the number of lead managed deals was down from December’s robust month, investment banking had a good month when considering strong M&A activity,” Reilly explained in a statement. “Fixed-income trading profits returned to a more normalized level in January.

 “Bank loans [at $6 billion] were down slightly due to payoffs. The origination pipeline continues to strengthen; however, the market is extremely competitive,” he added.

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