Raymond James (RJF) said late Wednesday that its January fees and commissions dropped slightly from last year but improved from the previous period. Meanwhile, assets under management grew both year over year and sequentially.
“January showed significant improvement in the stock market as the S&P 500 was up 4.4% for the month. This had a positive impact on our operating statistics, especially in the Private Client Group segment,” said CEO Paul Reilly (left), in a statement.
Securities commissions and fees generated by Raymond James’ 5,400 financial advisors, both private client and institutional, totaled $182 million in January 2012, down 2% from January 2011 but up 6% from December 2011.
Assets under administration grew 6% from last year and 4% from December to total $281 billion in January 2012. In addition, assets under management were up 9% from last year and 6% from last month at $37 billion. “The improvements for the month are a result of both advancing equity markets and continued net inflows,” according to the company.
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Raymond January said it also saw improvement over the prior month in both its equity and fixed-income capital markets businesses. The number of lead managed equity offerings increased over last month (to seven from six) and from January last year (when the company had five offerings), though revenues from this work “remain lackluster,” according to the company.