Stifel Financial reports July total client assets $522.3B

Stifel Financial (SF) reported selected operating results for July 31 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 client assets increased 9% and 14% year-over-year, respectively, to record levels. This strong momentum reflects both ongoing market appreciation and continued success in attracting net new assets. Treasury deposits surged 87% compared to last year, highlighting the strength of our venture and fund deposit gathering capabilities. This significant growth more than offset modest declines in client money market and insured product balances during July and underscores the resilience of our deposit base. Bank loans rose 1% in July, driven by increased Fund Banking and Residential lending.”