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Raymond James Says April Fees, Commissions Up 2%

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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.

“Although the number of lead-managed deals was down significantly from last month [to 5 from 15 a year ago], April was a strong corporate finance and M&A month. However, recent activity has been choppy and May activity is slower to date. The fixed-income business continued to perform on a steady basis in April, although commissions have trailed down slightly recently even as trading profits have remained solid,” explained Reilly.

Raymond James Bank increased loan balances slightly to $6.1 billion (from $6.0 billion a year ago), while credit metrics continued to show improvement, the company said in a statement.

“Although the operating metrics remain favorable, the outlook for the securities markets and economy has been volatile recently,” added Reilly. “Growth, or lack thereof, in the economy and the performance of the markets will significantly impact our future performance.”


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