Stifel Financial reports April total client assets $485.55B

Stifel Financial (SF) reported selected operating results for April 30 in an effort 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 Kruszewski, chairman and CEO, said, “Total client assets and fee-based assets increased 7% and 11%, respectively, from the same period a year ago, due to market appreciation and our continued success in recruiting productive financial advisors. On a month-on-month basis, both our total client assets and fee-based assets finished relatively in-line with March levels, despite significant volatility in the equities markets. Client money market and insured product balances decreased 5% in April as both Smart Rate and Sweep deposits were negatively impacted by typical seasonality.”