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June 20, 2013 at 10:59 AM
Raymond James Financial (RJF) said Wednesday that its total securities commissions and fees were $271 million in May, an increase of 8.6% over results in April and jump of 12.5% over May 2012 results.
Total assets under administration were $412.7 billion, up 0.2% from April and 14.3% percent over the year-ago period. Total assets under management hit $52.7 billion, up 1.7% from April and 32.1% over May 2012.
(In May, the S&P 500 rose 2.24%, while the Dow Jones Industrial Average improved 2.34%.)
“These metrics represent the primary drivers of our Private Client Group and Asset Management segments, respectively,” the company explained in a press release.
“We continue to execute on our cost savings initiatives following the Morgan Keegan integration,” added Raymond James, which is led by Paul Reilly (left). “We believe our businesses are well positioned but still face uncertain economic and capital markets environments.”
Outstanding loans at Raymond James Bank grew 1.2% to $8.4 billion, which represents the recovery of April’s drop—and fundings exceeded payoffs during the month of May, according to Raymond James.
