Raymond James (NYSE: RJF) reports record $1.92T client assets and 35% AUM growth
Rhea-AI Filing Summary
Raymond James Financial reported strong May 2026 operating metrics, highlighted by record client assets under administration of $1.92 trillion, up 21% from May 2025 and 3% from April 2026. Management notes this growth was driven mainly by higher equity markets and net asset inflows.
Private Client Group assets under administration reached $1.85 trillion, up 22% year-over-year, with $1.16 trillion in fee-based accounts, a 27% increase. Financial assets under management rose 35% year-over-year to $342.7 billion, including $37 billion from the recently acquired Clark Capital Management Group.
Bank loans, net, were $55.3 billion, up 13% from a year earlier and roughly flat sequentially. Clients’ domestic cash sweep and Enhanced Savings Program balances totaled $55.8 billion, 3% higher than a year ago and stable versus April. The company cautions that this limited monthly data should not be assumed to correlate directly with earnings.
Positive
- None.
Negative
- None.
Insights
May data show broad asset growth, aided by markets and acquisition.
Raymond James Financial shows strong underlying business momentum in May 2026. Client assets under administration reached $1.92 trillion, up 21% year-over-year, while fee-based Private Client Group assets rose 27%, reinforcing the shift toward more recurring revenue streams.
Financial assets under management climbed to $342.7 billion, up 35%, including $37 billion from Clark Capital acquired on April 30, 2026. This indicates both organic growth and the contribution of acquired capabilities. Bank loans at $55.3 billion grew 13% year-over-year but were flat sequentially, suggesting stable balance sheet deployment.
Management flags that investment banking pipelines and activity remain strong, though closing timing is uncertain, which can affect near-term fee revenue. The company explicitly cautions that this limited monthly data does not consistently correlate with earnings, so the true impact will become clearer in subsequent quarterly financial reports.
8-K Event Classification
2 items: 7.01, 9.01
2 items
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Client assets under administration: $1.92 trillion
Private Client Group assets: $1.85 trillion
PCG fee-based assets: $1.16 trillion
+5 more
8 metrics
Client assets under administration
$1.92 trillion
As of May 31, 2026; 21% YoY, 3% sequential growth
Private Client Group assets
$1.85 trillion
As of May 31, 2026; 22% YoY, 3% sequential growth
PCG fee-based assets
$1.16 trillion
As of May 31, 2026; 27% YoY, 3% sequential growth
Financial assets under management
$342.7 billion
As of May 31, 2026; 35% YoY, 15% sequential growth
Bank loans, net
$55.3 billion
As of May 31, 2026; 13% YoY, flat sequentially
Cash sweep and Enhanced Savings balances
$55.8 billion
As of May 31, 2026; 3% YoY growth, stable vs April
Clark Capital AUM contribution
$37 billion
Included in financial assets under management as of May 31, 2026
Total Clark Capital client assets
$49 billion
Includes ~$12 billion non-discretionary assets as of May 31, 2026
Key Terms
client assets under administration, Private Client Group assets under administration, fee-based accounts, financial assets under management, +2 more
6 terms
client assets under administration financial
"Client assets under administration grew to a record $1.92 trillion"
Private Client Group assets under administration financial
"Private Client Group assets under administration | | $ | 1,851.0"
fee-based accounts financial
"Private Client Group assets in fee-based accounts | | $ | 1,157.3"
financial assets under management financial
"Financial assets under management (1) | | $ | 342.7"
Enhanced Savings Program financial
"Clients’ domestic cash sweep and Enhanced Savings Program balances rose 3% year-over-year"
securities-based loans financial
"driven by strong growth of securities-based loans and residential mortgages"
A securities-based loan is a loan where an investor uses stocks, bonds or other marketable investments as the pledged asset to borrow cash without selling those holdings — like using a house for a mortgage or pawning a watch. It matters to investors because it provides quick liquidity or leverage while keeping potential upside, but it also increases risk: falling asset prices can trigger demands for more collateral or forced sales, affecting portfolio value and financing costs.
FAQ
How much did Raymond James (RJF) client assets grow in May 2026?
Raymond James client assets under administration reached $1.92 trillion in May 2026, up 21% from May 2025 and 3% from April 2026, driven mainly by higher equity markets and continued net asset inflows across its platform.
What were Raymond James (RJF) Private Client Group assets in May 2026?
Private Client Group assets under administration were $1.85 trillion in May 2026, an increase of 22% year-over-year and 3% sequentially. Fee-based PCG assets were $1.16 trillion, up 27% from May 2025, underscoring growth in recurring-fee relationships.
How large were Raymond James’ financial assets under management in May 2026?
Financial assets under management totaled $342.7 billion as of May 31, 2026, up 35% from May 31, 2025 and 15% from April 30, 2026. This includes $37 billion from Clark Capital Management Group acquired on April 30, 2026.
What were Raymond James (RJF) bank loan balances in May 2026?
Bank loans, net, were $55.3 billion at May 31, 2026, up 13% from May 31, 2025 and essentially flat versus April 30, 2026. Growth in securities-based loans and residential mortgages was largely offset by lower corporate loans.
How much cash did Raymond James clients hold in sweep and savings programs?
Clients’ domestic cash sweep and Enhanced Savings Program balances were $55.8 billion at May 31, 2026, including $42.2 billion in cash sweep and $13.6 billion in Enhanced Savings. Combined balances increased 3% year-over-year and were modestly higher than in April 2026.
What does Raymond James say about its May 2026 data and earnings correlation?
The company explicitly cautions that its May 2026 operating data are limited and that a consistent correlation to earnings should not be assumed. These monthly metrics highlight trends in assets and balances but do not replace full quarterly financial statements for profit analysis.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported)
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
(Address of principal executive offices) | (Zip Code) | |||||||||||||
(727 ) 567-1000
(Registrant’s telephone number, including area code)
None
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Exchange Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act (17 CFR 230.405) or Rule 12b-2 of the Exchange Act (17 CFR 240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
Item 7.01 Regulation FD Disclosure
On June 24, 2026, Raymond James Financial, Inc. (the “Company”) issued a press release to disclose its operating data for May 2026. A copy of this press release is attached to this Current Report as Exhibit 99.1 and is incorporated herein by reference.
The information in this Current Report, including any exhibits hereto, is being “furnished” and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing of the Company with the Securities and Exchange Commission, whether made before or after the date hereof, regardless of any general incorporation language in such filings (unless the Company specifically states that the information or exhibit in this particular report is incorporated by reference).
Item 9.01 Financial Statements and Exhibits
(d) Exhibits. The following are filed as exhibits to this report:
Exhibit No.
99.1 Press release, dated June 24, 2026, issued by Raymond James Financial, Inc.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
RAYMOND JAMES FINANCIAL, INC. | ||||||||
Date: June 24, 2026 | By: | /s/ Jonathan W. Oorlog, Jr. | ||||||
| Jonathan W. Oorlog, Jr. | ||||||||
| Chief Financial Officer | ||||||||
| June 24, 2026 | FOR IMMEDIATE RELEASE | |||||||
| Media Contact: Steve Hollister, 727.567.2824 | ||||||||
| Investor Contact: Kristina Waugh, 727.567.7654 | ||||||||
| raymondjames.com/news-and-media/press-releases | ||||||||
RAYMOND JAMES FINANCIAL REPORTS MAY 2026 OPERATING DATA
ST. PETERSBURG, Fla. - Raymond James Financial, Inc. (NYSE: RJF) today reported selected operating data for May 2026, in an effort to provide timely information to investors about monthly developments in certain key performance metrics. Due to the limited nature of this data, a consistent correlation to earnings should not be assumed.
“Client assets under administration grew to a record $1.92 trillion, increasing 21% year-over-year and 3% sequentially, driven primarily by higher equity markets and net asset inflows,” said CEO Paul Shoukry. “The pipeline for advisor recruiting continues to be robust. Clients’ domestic cash sweep and Enhanced Savings Program balances rose 3% year-over-year and increased modestly from the prior month, ending May at $42.2 billion and $13.6 billion, respectively. Bank loan balances of $55.3 billion were nearly flat to the preceding month largely driven by strong growth of securities-based loans and residential mortgages offset by lower corporate loans. Investment banking pipelines and client activity levels remain strong, but the timing of closings continues to be uncertain.”
| Operating Data | |||||||||||||||||||||||||||||
| As of | % change from | |||||||||||||||||||||||||||||||
| $ in billions | May 31, 2026 | May 31, 2025 | April 30, 2026 | May 31, 2025 | April 30, 2026 | |||||||||||||||||||||||||||
| Client assets under administration | $ | 1,921.3 | $ | 1,583.0 | $ | 1,869.9 | 21% | 3% | ||||||||||||||||||||||||
| Private Client Group assets under administration | $ | 1,851.0 | $ | 1,520.8 | $ | 1,798.6 | 22% | 3% | ||||||||||||||||||||||||
| Private Client Group assets in fee-based accounts | $ | 1,157.3 | $ | 909.1 | $ | 1,121.4 | 27% | 3% | ||||||||||||||||||||||||
Financial assets under management (1) | $ | 342.7 | $ | 254.2 | $ | 298.6 | 35% | 15% | ||||||||||||||||||||||||
Bank loans, net | $ | 55.3 | $ | 49.1 | $ | 55.4 | 13% | —% | ||||||||||||||||||||||||
Clients’ domestic cash sweep and Enhanced Savings Program balances | $ | 55.8 | $ | 54.2 | $ | 55.6 | 3% | —% | ||||||||||||||||||||||||
(1) As of May 31, 2026, financial assets under management included $37 billion of assets under management for Clark Capital Management Group, Inc. (“Clark Capital”), which was acquired on April 30, 2026. Total client assets for Clark Capital, including non-discretionary assets of approximately $12 billion, were $49 billion.
About Raymond James Financial, Inc.
Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. Total client assets are $1.92 trillion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at www.raymondjames.com.