Raymond James reports October assets under administration $241.1B

“Client assets under administration grew 25% year-over-year but declined 2% compared to the preceding month primarily due to lower equity markets in October. The previously announced departure of predominantly one large independent branch negatively affected asset levels as of month end, despite strong recruiting and retention,” said Chair and CEO Paul Reilly. “Clients’ domestic cash sweep and Enhanced Savings Program balances ended the month relatively unchanged, as inflows offset quarterly fee billings. Our investment banking pipeline and activity levels are healthy.”