Raymond James Delivers Strong Q1 Results, Embracing a Bright Future
Raymond James Financial, a leading financial services company, has announced its robust first-quarter performance for Fiscal 2025. The company reported record net revenues of $3.54 billion and net income available to common shareholders totaling $599 million, resulting in record earnings per diluted share of $2.86.
Chairman and Chief Executive Officer Paul Reilly expressed satisfaction with the results during the quarterly earnings call, highlighting the strength of their diverse businesses and complementary operations. He emphasized the company's well-positioned financial health, with ample capital and a healthy pipeline for investments in business growth, employee development, and technology enhancement.
Raymond James achieved a remarkable annualized return on common equity of 20.4% and an adjusted return on tangible common equity of 24.6%, showcasing its exceptional performance, particularly given its robust capital base.
Total client assets under administration increased by 14% year-over-year to reach $1.56 trillion, with a sequential decline attributed to foreign exchange rates and the departure of one large branch from their independent contractor division. However, Private Client Group (PCG) assets in fee-based accounts reached an all-time high of $877 billion.
The company's focus on retaining and recruiting high-quality financial advisors has driven net new assets primarily during the quarter, with domestic PCG assets growing at a 4% annualized rate. This growth demonstrates Raymond James' commitment to providing exceptional service and fostering long-term relationships with its clients and professionals.
Paul Reilly expressed his confidence in Paul Shoukry and his leadership team, who will assume responsibility next month following the company's annual meeting. He commended their experience, dedication to the company culture, and potential for delivering outstanding results.
The transition plan was carefully outlined by Reilly, highlighting the importance of continuity and support during this process. As Executive Chairman, he assured that he would continue to provide guidance and assistance when needed, mirroring Tom James' supportive approach 15 years ago.
