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May 24, 2017

Raymond James Financial reports April 2017 operating data

ST. PETERSBURG, Fla. - In an effort to provide timely information to investors about general trends in our major business segments, we are releasing selected operating data for April 2017. Due to the limited nature of this data, a consistent correlation to earnings should not be assumed.

Total securities commissions and fees of $332 million increased 15 percent compared to April 2016 and were flat compared to March 2017. The growth over last year’s April was largely attributable to higher balances of Private Client Group assets in fee-based accounts. Compared to March 2017, the increase in securities commissions and fees in the Private Client Group was offset by a decline in institutional commissions in the Capital Markets segment.

Client assets under administration reached a record $649.2 billion, increasing 24 percent over April 2016 and 1 percent over March 2017. Financial assets under management reached a record $87.2 billion, up 26 percent over April 2016 and 2 percent over March 2017. The increase in client assets was primarily driven by continued growth in the Private Client Group as well as market appreciation.

“Investment banking revenues were strong in April, led by robust M&A results,” said Chairman and CEO Paul Reilly. “The Fixed Income division continued to be challenged by a flattening yield curve.”

Net loans at Raymond James Bank of $16 billion grew 10 percent over April 2016 and were flat compared to March 2017, as payoffs of C&I loans remained elevated in April.

“We are excited that our continued success recruiting and retaining financial advisors enabled us to achieve records for client assets under administration and financial assets under management in April,” said Reilly. “Our outlook remains cautiously optimistic, particularly if progress is made on tax and regulatory reform.”

About Raymond James Financial, Inc.
Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has 7,200 financial advisors serving approximately 3 million client accounts in more than 2,900 locations throughout the United States, Canada and overseas. Total client assets are $649 billion. Public since 1983, the firm has been listed on the New York Stock Exchange since 1986 under the symbol RJF. Additional information is available at www.raymondjames.com.

Forward-Looking Statements
Certain statements made in this press release may constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions. In addition, words such as “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates,” “projects,” “forecasts,” and future or conditional verbs such as “will,” “may,” “could,” “should,” and “would,” as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements. We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks described in our filings with the Securities and Exchange Commission (the “SEC”) from time to time, including our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, which are available on www.raymondjames.com and the SEC’s website at www.sec.gov. We expressly disclaim any obligation to update any forward-looking statement in the event it later turns out to be inaccurate, whether as a result of new information, future events, or otherwise.

April 2017
(19 business days)
April 2016
(21 business days)
% Change March 2017
(23 business days)
% Change
Total securities commissions and fees (in mil.) (1) $332.1 $289.6 15% $332.5
Client assets under administration (in bil.) $649.2 $521.8 24% $642.7 1%
Private Client Group assets under administration (in bil.) $616.6 $493.5 25% $611.0 1%
Financial assets under management (in bil.) (2) $87.2 $69.2 26% $85.6 2%
Raymond James Bank total loans, net (in bil.) $16.0 $14.5 10% $16.0

(1) Includes all securities commissions and fees generated by our financial advisors, both private client and institutional.

(2) This is the primary revenue driver for the asset management segment. Investment advisory fees are based on a percentage of assets at either a single point in time within the quarter, typically the beginning or end of a quarter, or the “average daily” balances of assets under management.