Net revenues for the first quarter of fiscal 2012 declined 4% to $782.77 million from US$813.83 million in the parallel quarter of fiscal 2011.
Assets under administration on 31 December 2011 were US$270 billion, up 3% over last year’s first quarter end and 5% over the previous quarter end.
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Similarly, assets under management (AUM) of US$35 billion were up 5% over last year’s first quarter and 9% over the previous quarter end.
Raymond James CEO Paul Reilly said, "Despite uncertain market conditions, we anticipate improving results this quarter and are confident in our long-term future."
The group also revealed that currently it has approximately 5,400 financial advisors serving two million accounts in 2,400 locations throughout the US, Canada and overseas.
