Stifel Financial reports May total client assets $501.36B

Stifel Financial (SF) reported selected operating results for May 31 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, “In May, recruiting and market appreciation drove a 3% increase in total client assets and a 4% increase in fee-based assets. Client money market and insured product levels decreased less than 1% during the month primarily due to lower Smart Rate balances as Sweep balances experienced a slight decline. Investment banking activity was negatively impacted by increased market volatility in April, but we have seen momentum increase and our pipelines build throughout the quarter as markets have stabilized. As a result, we anticipate investment banking revenue in the quarter to be down approximately 10% from the second quarter of 2024 but we remain cautiously optimistic for the full year 2025.”