Client Assets Under Administration Reach Record $1.87 Trillion
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 20 2026
0mins
"Client assets under administration reached a record $1.87 trillion, increasing 22% year-over-year and 6% sequentially, driven primarily by higher equity markets and net asset inflows," said CEO Paul Shoukry. "PCG fee-based assets increased 28% year-over-year and 7% over the preceding month. Clients' domestic cash sweep and Enhanced Savings Program balances of $55.6 billion were flat year-over-year and decreased 4% sequentially primarily due to quarterly fee billings and seasonal client tax payments during the month. The investment banking pipelines and client activity levels remain strong, but the timing of closings continues to be uncertain."
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Analyst Views on RJF
Wall Street analysts forecast RJF stock price to rise
9 Analyst Rating
2 Buy
7 Hold
0 Sell
Hold
Current: 142.000
Low
176.00
Averages
184.00
High
196.00
Current: 142.000
Low
176.00
Averages
184.00
High
196.00
About RJF
Raymond James Financial, Inc. is a diversified financial services company that provides services to individuals, corporations and municipalities. The Company's segments include Private Client Group (PCG), Capital Markets, Asset Management, Bank and Other. PCG segment provides financial planning, investment advisory, and securities transaction services to clients through financial advisors. Capital Markets segment conducts investment banking, institutional sales, securities trading, equity research, and the syndication and management of investments in low-income housing funds and funds of a similar nature. Asset Management segment provides asset management, portfolio management and related administrative services to retail and institutional clients. Bank segment includes Raymond James Bank, a Florida-chartered state member bank, and TriState Capital Bank, a Pennsylvania-chartered state member bank. Other segment includes corporate cash balances and its private equity investments.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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See More
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- Private Client Group Performance: The Private Client Group's fee-based account assets surged 28% year-over-year to $1.12 trillion, showcasing the company's appeal among high-net-worth clients and an increase in market share.
- Financial Assets Management: Financial assets under management rose 22% to $298.6 billion, highlighting the company's robust growth potential in asset management, despite flat cash sweep balances year-over-year.
- Future Outlook: While investment banking pipelines and client activity remain strong, CEO Paul Shoukry noted that deal closings may face timing uncertainties, which could impact future performance.
See More
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See More
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- Dismal Inflation Data: The Bureau of Labor Statistics reported a 3.8% year-on-year increase in the consumer price index for April, the highest since May 2023, while wholesale prices also saw their largest annual rise since 2022, indicating escalating inflationary pressures.
- Stable Unemployment Rate: The latest data shows the unemployment rate held steady at 4.3% in April, remaining above 4% since May 2024, suggesting a weak labor market that could adversely affect consumer spending and economic recovery.
- Pessimistic Economic Outlook: Kalshi traders estimate the chances of a soft landing at only 21%, a significant drop from 55% in early March, reflecting diminished market confidence in future economic performance and potentially prompting investors to adopt more cautious strategies.
See More
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- Payment Schedule: The dividend will be payable on July 15, with a record date of July 1 and an ex-dividend date also set for July 1, providing investors with a clear timeline to inform their investment decisions.
- Expense Target and Growth Outlook: Raymond James has set a non-compensation expense target of approximately $2.3 billion while expecting about 1% fee growth in Q3, indicating the company's focus on cost control while remaining optimistic about future revenue growth potential.
See More
