Raymond James Financial said late Wednesday that its 5,300-plus financial advisors grew their fees and commissions to about $182.5 million, an increase of about 2% in April 2011 over last year’s results. This production level was, though, down 7% from March fees and commissions of $196.4 million – however, on a daily basis they rose 7%, according to the company.
“April operating data shows continuing strength, especially given it was a short month on a business-day basis,” stated CEO Paul Reilly (left) in a press release. “Assets under administration and assets under management set new records at $282 billion and $36.9 billion, respectively.”
Assets under administration improved 15% year over year and 2.5% from March 2011. Based on the lastest figures, Raymond James’ financial advisors have an average of $53.2 million in assets under administration per rep and average monthly production of $34,430.