Record Expenses Were an Offset to Raymond James’ Record Revenue in the December Quarter
Raymond James Financial’s record expenses put a damper on the company’s record revenue quarter. The company reported net income of $147 million, or $1 per diluted share, on $1.49 billion of revenue in its first fiscal quarter ended in December. Much of the record revenue likely comprised the contribution from Alex. Brown, which Raymond James acquired late in the September quarter. On an organic basis, revenue faltered in the company’s capital markets segment, primarily from a decrease in investm...Raymond James Financial is a bank holding company and financial holding company. Through its subsidiaries, the company is engaged in financial services activities. The company's segments include: Private Client Group, which provides financial planning and securities transaction services through a branch office network; Capital Markets, which conducts institutional sales, securities trading, equity research, investment banking and the syndication and management of investments that qualify for tax credits; Asset Management, which provides portfolio management and related administrative services for retail and institutional clients; and Raymond James Bank, N.A., which provides loans such as corporate loans.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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