RJF - Raymond James client AUA rise 1% in May to $1.19T despite flat equity markets

Raymond James Financial (NYSE:RJF) client asset under administration of $1.19T in May rose from $1.18T in the prior month. "Despite flat equity markets, client assets increased over the preceding month driven by strong advisor retention and recruiting across our multiple affiliation options," said RJF Chairman and CEO Paul Reilly. Financial assets under management of $183.3B also rose 1% in May, though declined by 2% from the same period a year ago. Raymond James (RJF) Bank loans of $29.2B gains 2% in May and 23% from the same period a year ago. Clients' domestic cash sweep balances of $76.1B increase 3% from April and 22% from the same period a year ago. Previously, (May.24) Raymond James client AUA falls in April due to equity market decline.

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Raymond James client AUA rise 1% in May to $1.19T despite flat equity markets