Raymond James Financial’s private client group reported pre-tax income of US$56.7 million for the third quarter of fiscal 2013, a 12% decrease compared to US$ 64.3 million for the same period of previous year.
The revenues of private client group rose 8% to US$741.6 million from US$684.6 million for teh year ago period.
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The firm’s asset management unit reported pre-tax income of US$23.9 million for the fiscal third quarter, up 41% from US$17 million reported a year ago.
The revenues at asset management unit were US$76.8 million, an increase 27% compared to US$60.6 million in the fiscal third quarter of 2012.
Overall, the company’s net income for the third quarter of fiscal 2013 was US$83.8 million, or US$0.59 per diluted share, a 10% increase compared to US$76.3 million, or US$0.55 per diluted share, for the same period of year ago.
The group’s net revenues were US$1.13 billion for the third fiscal quarter of 2013, a 2% increase compared to US$1.11 billion for the same period of 2012.
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