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March 24, 2011 at 09:51 AM
Raymond James Financial said Wednesday that its 5,300 advisors boosted their year-over-year results more than 20% in February.
“February 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.
