RJF - Raymond James client AUA climbs to record $1.13T in April

Raymond James Financial (RJF) reports record client assets under administration of $1.13T for April, up 4% from March and 36% from April 2020.Financial AUM of $185.3B was also a record, climbing 4% from March and 35% Y/Y, with growth of client assets driven by equity market appreciation and the net addition of advisers in the Private Client Group."Financial advisor retention and recruiting momentum both remain strong across our multiple affiliation options," RJF Chairman and CEO Paul Reilly said. "Additionally, activity levels for fixed income and M&A are robust."Net loans at Raymond James Bank of $23.1B rose 1% M/M and 6% Y/Y.Clients' domestic cash sweep balances of $6.17B fell 2% from March and increased 20% from April 2020.SA contributor The Value Pendulum summed up RJF's Q1 as a good quarter, but sees the positive outlook already priced into the stock.

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Raymond James client AUA climbs to record $1.13T in April