Raymond James Financial reported profit up 90%,and revenue up 18%.CEO Paul Reilly says it's really a result of strong long term,conservative investment.There were solid returns from investment banking,banking and the asset management group.
We're seeing the returns really get back into the equity markets,although not like they have historically.Investors are being cautious,but are coming back into the markets.
Raymond James is adding advisors to its private client group.We think we can continue to achieve 15% compounded growth.We're not about being the biggest.It's kind of a quality goal.
We're really focusing on our current businesses.We will continue to look at niche acquisitions,Mr.Reilly indicated.
Raymond James has 5300 advisors.The company was founded in 1962.It serves individual,institutional and corporate clients from offices throughout North America.
Raymond James Financial(RJF)
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