Raymond James Hits Record Revenues on Asset Surge
Quarterly net revenues reached a record $3.93 billion as client assets under administration grew 17% year-over-year.
Raymond James Financial (RJF), the financial services provider, reported record quarterly net revenues of $3.93 billion for the fiscal third quarter ended June 30, 2026. The figure represents a 16% increase year-over-year and a 2% sequential rise. Net income available to common shareholders rose 42% year-over-year and 11% sequentially to $595 million.
The results were driven by a significant expansion in the firm's asset base. Client assets under administration reached a record $1.93 trillion as of July 31, 2026, a 17% increase compared to July 31, 2025. This growth was most pronounced in the Private Client Group, where assets in fee-based accounts rose 21% year-over-year to $1.155 trillion from $956.5 billion a year prior. Financial assets under management saw an even steeper trajectory, rising 30% year-over-year to $344.6 billion.
Credit activity also trended upward. Net bank loans increased 13% year-over-year to $56.3 billion as of July 31, 2026, up from $49.7 billion on the same date in 2025.
Liquidity positions shifted slightly toward the end of the period. Clients’ domestic cash sweep and Enhanced Savings Program balances declined 4% month-over-month to $56.7 billion as of July 31, 2026, from $58.8 billion on June 30, 2026. This move reflected the collection of quarterly fee billings in July.
Profitability metrics remained elevated. The company reported an annualized return on common equity of 18.8% for the quarter. The annualized adjusted return on tangible common equity reached 23.5%.