Raymond James Fiscal 2026 Earnings Report Shows Record Assets and Profit -- Barrons.com

By Kenneth Corbin

Raymond James posted records in several important categories when it reported earnings this week, including client assets under administration and assets held in fee-based accounts. The St. Petersburg, Fla.-based brokerage firm reported record net income of $666 million for the fourth quarter of fiscal 2026. It reported adjusted earnings of $3.59 per share, also a record, up 15% from the fourth quarter in 2025.

Raymond James ended the quarter with total client assets under administration of $1.94 trillion, and assets in fee-based accounts held in its Private Client Group of $1.16 trillion, both records and both double-digit percentage increases over the fourth quarter of 2025. The Private Client Group added $98 billion of net new domestic assets in 2026, up 88% from 2025.

Shares of Raymond James were trading around $160, a gain on the day of 1.4% as of Thursday afternoon.

"We delivered our sixth consecutive year of record annual revenue and earnings, a testament to our resilient, diversified businesses anchored by our Private Client Group," says CEO Paul Shoukry. "These results reflect our advisor- and client-focused values coupled with our robust capabilities and resources."

Raymond James attributed much of its growth to increases in asset management and other administrative fees, which totaled $2.3 billion in the quarter, up 23% from nearly $1.9 billion a year ago. Overall revenue for the period checked in at $4.7 billion, up 13% from $4.2 billion in the year-earlier period.

Raymond James says that at the end of September, it had a workforce of about 8,900 financial advisors, though it didn't report a precise head count. The firm says it spent $1.8 billion on advisor compensation in the fourth quarter, up 20% from last year's mark of $1.5 billion.

JPMorgan Chase analyst Michael Cho says Raymond James is a "clear beneficiary of the secular growth trends underpinning the wealth management industry" and notes that its variety of affiliation channels make it a popular destination for advisors seeking to change firms.

"We believe Raymond James's scale is a substantial competitive advantage and enables it to more effectively attract and retain advisors and be a partner of choice," Cho says in a research note. "That said, if competitors are successful at stepping up their recruiting of advisors, it could mean a slowdown for Raymond James."

Shoukry says that while the 2027 fiscal year that began Oct. 1 will inevitably bring some turbulence, he says Raymond James is "well positioned with record client asset levels, a strong investment banking pipeline, and attractive growth opportunities across our businesses."

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October 29, 2026 15:13 ET (19:13 GMT)