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LPLA - Key Risks Weighing Down Raymond James Financial Inc.
LPL Financial Holdings Inc.
Raymond James Financial, Inc. (RJF) is a financial services company in the business of financial advisory, asset management, investment banking, and traditional banking. It has previously been written about in Seeking Alpha by Thomas Lott and Michael Coppola, CFA. I hope to add to the discussion now given a decline in valuations as measured by both price-to-earnings (PER) and price-to-book (PB).
The decline in valuation comes despite a strong historical performance: a ten-year average return on assets (ROA) of 1.7%, return on equity of 10.3%, and return on common equity (ROCE) of