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August 23, 2017

Raymond James Financial reports July 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 July 2017. Due to the limited nature of this data, a consistent correlation to earnings should not be assumed.

Total securities commissions and fees of $334 million increased 11 percent compared to July 2016 but declined 2 percent compared to June 2017. The growth in securities commissions and fees over July 2016 was driven by the Private Client Group segment, which benefited from higher assets in fee-based accounts. The decline in securities commissions and fees compared to June 2017 was attributable to lower institutional equity and fixed income commissions during the month.

Client assets under administration reached a record $676.6 billion, increasing 23 percent over July 2016 and 2 percent over June 2017. Financial assets under management reached a record $92.9 billion, up 26 percent over July 2016 and 2 percent over June 2017. Client assets were lifted by the net addition of financial advisors in the Private Client Group segment and equity market appreciation.

“Investment banking revenues, particularly M&A fees, were very strong in July, and we remain optimistic about our M&A pipeline for the near term,” said Chairman and CEO Paul Reilly.

Record net loans at Raymond James Bank of $16.7 billion grew 14 percent over July 2016 and 1 percent over June 2017.

“While low interest rate volatility and a flattening yield curve continue to present challenges for Fixed Income, equity market appreciation and higher short-term interest rates have provided significant tailwinds for most of our other businesses,” said Reilly.

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 approximately 7,300 financial advisors in 3,000 locations throughout the United States, Canada and overseas. Total client assets are $677 billion. Public since 1983, the firm is listed on the New York Stock Exchange 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 at 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.

July 2017
(20 business days)
July 2016
(20 business days)
% Change June 2017
(22 business days)
% Change
Total securities commissions and fees (in mil.) (1) $334.4 $300.0 11% $341.9 (2) %
Client assets under administration (in bil.) $676.6 $548.2 23% $664.4 2%
Private Client Group assets under administration (in bil.) $643.6 $519.4 24% $631.5 2%
Financial assets under management (in bil.) (2) $92.9 $74.0 26% $91.0 2%
Raymond James Bank total loans, net (in bil.) $16.7 $14.6 14% $16.6 1%

(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.