March 24, 2011

Raymond James: Advisor Results Up 21% in February

Average fees and commissions were about $35,000 per FA, or $181 million for all 5,300 advisors, in February 2011

Raymond James Financial said Wednesday that its 5,300 advisors boosted their year-over-year results more than 20% in February.   

paul reilly of raymond jamesFebruary operating data continued to improve along with the economy,” said CEO Paul Reilly (left) in a press release. “Securities commissions and fees were up 21% over last year and 2% over last month on a daily basis.”

Total fees and commissions for the Raymond James FAs were $181.1 million in February 2011 vs. 149.5 million in the same month last year and $186.2 million January 2011 (which had one more trading day than February).

This represents average fees and commissions per advisor of about $34,000 in February. If sales were to remain at this level for most of 2011, this would mean that FAs would have average yearly sales of $410,000. (The January 2011 monthly average was roughly $35,000.)

Assets under administration in February hit a new high of $272.8 billion, up 17% from $233.3 billion a year ago, and an improvement of nearly 3% from January.

Per advisor, average assets are about $51.5 million as of February.

Total assets under management (excluding money market funds) stand at $35 billion.

Other RJ Results

Equity capital markets and fixed income continued their January trends,” added Reilly in a statement. “Bank loans were up slightly with a strong origination month, but payoffs continued at high levels. The origination pipeline continues to strengthen; however, the market remains extremely competitive.”

“We continue to be well positioned to grow with an improving market. However, world events in the Middle East and the tragedy in Japan have created much uncertainty for the near term.”

Raymond James says its total number of lead-managed underwritings was seven in February, up from both five a year ago and six in January.

Its total bank loans were $6.1 billion last month vs. $6.3 billion a year ago and $6.0 billion a month earlier.

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