Record revenue growth for Raymond James Financial’s private client group helped boost the financial service company’s 2nd quarter net income by 33% from a year ago.
Assets under management rose 12% to a record
In the race for AUM,
“We are very pleased with our continued retention, record average productivity, and the net additions of financial advisors in the
The number of financial advisors in the private client group rose to 6,202 from 6,165 from the year-ago period, but the bulk of the growth took place within the company’s independent channel, which grew by 71 advisors to 3,288. The number of advisors in the employee channel fell 26 advisors from a year ago.
In an interview with OWS in March,
“What we are seeing is the result of months and months of consistent recruiting,” declared Elwyn.
Companywide, net income grew to
Return on equity increased to 10.9% from 9.3% same period a year ago.
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