Raymond James Financial Flattish NNA in April

Raymond James reported flattish Net New Asset growth for April 2026, with total client assets reaching $1.87tr. Cash balances fell 4% sequentially due to seasonal tax and fee obligations.

Key Takeaways

• 1.Raymond James (RJF) reported flattish to marginally positive Net New Asset (NNA) growth in April 2026, which Goldman Sachs believes investors will find underwhelming.
• 2.Client cash balances declined 4% month-over-month to $55.6bn, primarily driven by seasonal tax payments and quarterly fee billings.
• 3.Total client assets rose 6% month-over-month to $1.87tr, benefiting from recovering equity markets and net asset inflows.

Table of Contents

• Raymond James Financial Inc. (RJF): Flattish NNA in April, with cash down on seasonality
• Some of the specifics include:
• Disclosure Appendix
• Ratings, coverage universe and related definitions
• Global product; distributing entities
• General disclosures

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