Record client assets at Stifel (NYSE: SF) in January 2026 update

Rhea-AI Filing Summary

Stifel Financial Corp. reported selected operating data as of January 31, 2026, highlighting record client asset levels. Total client assets were $561,061 million, up 10% year over year and 2% from December 31, 2025, driven by market appreciation and net inflows.

Fee-based client assets reached $229,423 million, a 16% year-over-year increase and 2% above year-end, with Private Client Group fee-based assets up 17% year over year. Treasury deposits rose 70% from the prior year to $9,139 million, while client money market and insured products declined 7% year over year to $25,911 million and 3% from year-end due to seasonal factors.

Bank loans, net were $22,311 million, up 6% from January 31, 2025, and down less than 1% from year-end, which management described as typical early-year seasonality. The company emphasized that these are limited metrics and that a consistent correlation to earnings should not be assumed.

Insights

Banking and wealth management analyst

Stifel shows strong asset growth and deposits, with seasonal loan and liquidity shifts.

Stifel Financial Corp. reports record total and fee-based client assets as of January 31, 2026. Total client assets of $561,061 million rose 10% year over year, while fee-based assets of $229,423 million increased 16%, suggesting healthy markets and net inflows.

Treasury deposits grew to $9,139 million, up 70% from a year earlier, reflecting strong venture and fund banking activity. At the same time, client money market and insured balances declined 7% year over year to $25,911 million, and bank loans of $22,311 million were up 6% year over year but slightly below year-end, which management attributes to typical seasonality.

The company explicitly notes that these are limited operating metrics and that a consistent correlation to earnings should not be assumed. Investors comparing this update with future quarterly results can better understand how January asset and deposit trends relate to revenue and net interest income when those figures are later reported.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 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): February 26, 2026

STIFEL FINANCIAL CORP.

(Exact name of registrant as specified in its charter)

Delaware		001-09305		43-1273600
(State of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

501 N. Broadway, St. Louis, Missouri 63102-2188

(Address of principal executive offices and zip code)

(314) 342-2000

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class		Trading Symbol(s)		Name of Each Exchange on Which Registered
Common Stock, $0.15 par value per share		SF		New York Stock Exchange
Depository Shares, each representing 1/1,000th interest in a share of 6.25% Non-Cumulative Preferred Stock, Series B		SF-PB		New York Stock Exchange
Depository Shares, each representing 1/1,000th interest in a share of 6.125% Non-Cumulative Preferred Stock, Series C		SF-PC		New York Stock Exchange
Depository Shares, each representing 1/1,000th interest in a share of 4.50% Non-Cumulative Preferred Stock, Series D		SF-PD		New York Stock Exchange
5.20% Senior Notes due 2047		SFB		New York Stock Exchange

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 (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

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 February 26, 2026, Stifel Financial Corp. (the “Company”) issued a press release to disclose selected operating results for January 31, 2026. A copy of the press release is attached as Exhibit 99.1 to this Report on Form 8-K, and is incorporated by reference.

The exhibit is being furnished pursuant to Item 2.02, and the information contained therein shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act.

Item 9.01 Financial Statements and Exhibits.

(d)  Exhibits.

Exhibit Number		Description
99.1		Press release dated February 26, 2026.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

2

SIGNATURE

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.

						STIFEL FINANCIAL CORP. (Registrant)
Date: February 26, 2026				By:		/s/ James M. Marischen
				Name:		James M. Marischen
				Title:		Chief Financial Officer

3

Stifel Reports January 2026 Operating Data

ST. LOUIS, MO, February 26, 2026 – Stifel Financial Corp. (NYSE: SF) today reported selected operating results for January 31, 2026, to provide timely information to investors on certain key performance metrics. Due to the limited nature of this data, a consistent correlation to earnings should not be assumed.

Ronald J. Kruszewski, Chairman and Chief Executive Officer, said, “In January, total client assets and fee-based client assets reached record levels, increasing 10% and 16% year over year, respectively, driven by market appreciation and solid net inflows. Treasury deposits rose 70% from the prior year, reflecting strong venture and fund banking deposit activity. Client money market and insured product balances declined by less than 3% from year-end due to seasonal factors, as growth in Smart Rate balances was offset by lower Sweep balances. Total bank loans declined by less than 1% during the month, consistent with typical early-year seasonality.”

Selected Operating Data (Unaudited)

		As of												% Change
(millions)		1/31/2026				1/31/2025				12/31/2025				1/31/2025				12/31/2025
Total client assets			$561,061				$509,671				$551,863				10%				2%
Fee-based client assets			$229,423				$197,298				$224,488				16%				2%
Private Client Group fee-based client assets			$201,396				$172,468				$196,718				17%				2%
Bank loans, net (includes loans held for sale)			$22,311				$21,118				$22,427				6%				(1)%
Client money market and insured product (1)			$25,911				$27,936				$26,633				(7)%				(3)%
Treasury deposits (2)			$9,139				$5,363				$9,262				70%				(1)%

(1) Includes Smart Rate deposits, Sweep deposits, Third-party Bank Sweep Program, and Other Sweep cash.

(2) Includes Other Bank deposits and Third-party Commercial Treasury deposits, which represent Venture, Fund, and Commercial deposits at Stifel Bancorp and third-party banks.

Company Information

Stifel Financial Corp. (NYSE: SF) is a diversified financial services firm providing wealth management, commercial and investment banking, trading, and research services to individuals, institutions, and municipalities. Founded in 1890 and headquartered in St. Louis, Missouri, the firm operates more than 400 offices across the United States and in major global financial centers. As a firm where success meets success, Stifel works closely with retail and institutional clients aiming to transform opportunities into achievement. To learn more about Stifel, please visit the Company’s website at www.stifel.com. For global disclosures, please visit www.stifel.com/investor-relations/press-releases.

Media Contact: Neil Shapiro (212) 271-3447 | Investor Contact: Joel Jeffrey (212) 271-3610 | www.stifel.com/investor-relations

FAQ

What total client assets did Stifel Financial Corp. (SF) report for January 31, 2026?

Stifel reported total client assets of $561,061 million as of January 31, 2026. This represents a 10% increase from January 31, 2025, and a 2% rise compared with December 31, 2025, driven by market appreciation and net inflows.

How did Stifel Financial Corp. (SF) fee-based client assets change year over year?

Fee-based client assets reached $229,423 million as of January 31, 2026, a 16% increase from January 31, 2025. Private Client Group fee-based assets were $201,396 million, up 17% year over year, reflecting growth in advisory and managed account relationships.

What did Stifel Financial Corp. (SF) report for treasury deposits in January 2026?

Treasury deposits totaled $9,139 million as of January 31, 2026, a 70% increase compared with January 31, 2025. The company attributed this strong growth to robust venture and fund banking deposit activity, with balances only 1% below December 31, 2025.

How were Stifel Financial Corp. (SF) bank loans and client cash products trending?

Bank loans, net, were $22,311 million, up 6% year over year and down less than 1% from December 31, 2025. Client money market and insured product balances were $25,911 million, down 7% year over year and 3% from year-end, influenced by seasonal factors.

Did Stifel Financial Corp. (SF) comment on the relationship between this data and earnings?

Yes. Stifel stated that January 31, 2026 figures are selected operating results and that, due to their limited nature, a consistent correlation to earnings should not be assumed. The update is intended to provide timely information on key performance metrics rather than full profitability measures.

What records did Stifel Financial Corp. (SF) highlight in its January 2026 update?

Management highlighted that both total client assets and fee-based client assets reached record levels in January 2026. These records were driven by market appreciation and solid net inflows, underscoring growth across the firm’s wealth management and Private Client Group businesses.

Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 EX-99.1 19.2 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 4.0 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE 14.1 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 23.7 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 15.2 KB