The private client group of Raymond James Financial has reported a pretax income of $100.2m for the fourth quarter of fiscal 2014, an increase of 55% compared to a year ago period.
The division’s net quarterly revenues were $861.1m, up 16% from prior year’s fourth quarter.
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The division’s total assets under administration climbed to $450.6bn, an 11.9% increase from the same quarter of last year.
Raymond James Financial’s asset management unit reported quarterly pre-tax income of $35.3m for the fiscal fourth quarter, up 15% from $30.56m a year ago.
The revenues at asset management unit were $94.9m, an increase 17% compared to the prior year’s fiscal fourth quarter.
Overall, the company reported a net income of $136.4m for the fiscal fourth quarter ended 30 September 2014, a 16% rise compared to $117.4m a year earlier.
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By GlobalDataThe group reported quarterly net revenues of $1.29bn, a 14% increase over the prior year’s fiscal fourth quarter.
Paul Reilly, CEO of Raymond James, said: "Record annual net revenues in all of our core segments coupled with disciplined expense management resulted in the firm generating a 15.4 percent pre-tax margin on net revenues and a 12.3 percent return on equity for our shareholders."
