RJF - Raymond James client AUA falls in April due to equity market decline

Raymond James Financial (NYSE:RJF) saw client assets under administration slip 6% in April to $1.18T, driven by declines in the equity markets, Chair and CEO Pau Reilly said Tuesday. On a Y/Y basis, clients AUA increased 5%. Private Client Group AUA of $1.13T fell 6% M/MN and rose 5% Y/Y. Private Client Group assets in fee-based accounts were $638.3B, down 6% M/M and up 8% Y/Y. Financial assets under management of $181.9B dropped 6% from March and fell 2% from April 2021. Raymond James Bank net loans of $28.5B increased 2% from the prior month and 23% from the same month a year ago. Clients' domestic cash sweep balances of $73.9B fell 3% from March and rose 20% from April 2021. “Investment banking pipelines are healthy, but M&A and underwriting activity has slowed significantly across the industry due to geopolitical and macroeconomic uncertainties," Reilly said. Previously (April 27), Raymond James

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Raymond James client AUA falls in April due to equity market decline