Stifel Financial reports November total client assets $553.61B

Stifel Financial (SF) reported selected operating results for November 30. Ronald Kruszewski, chairman and CEO, said, “Total client assets and fee-based client assets reached record highs in November, up 8% and 14% year-over-year, driven by strong recruiting and market gains. Client money market and insured product balances increased 1% from October as growth in Sweep balances more than offset a decline in Smart Rate. Additionally, the impressive growth in Treasury deposits accelerated in November as balances increased 9% from the prior month and nearly doubled from a year ago. In our Institutional Group, client activity levels remain elevated, and despite the impact of the government shutdown, we anticipate a strong fourth quarter.”