Raymond James reports February-end assets under administration $1.58T

“Client assets under administration increased 12% over the prior-year period; however, declined 1% compared to the preceding month primarily due to lower equity markets in February, partially offset by modest net inflows,” said CEO Paul Shoukry. “Clients’ domestic cash sweep and Enhanced Savings Program balances of $56.6 billion declined 3% year-over-year and 1% sequentially. Our investment banking pipeline remains strong, although macroeconomic uncertainty has resulted in lower levels of closings in the first two months of the quarter as compared to the preceding quarter.”