Strong Underlying Growth Slightly Marred by Unusual Losses at Raymond James
No-moat Raymond James Financial had fairly strong growth in fee-based and interest-rate-related revenue, but the second quarter was somewhat held down by a legal settlement and higher loan charge-offs. The company reported net revenue for $1.56 billion, up 5% sequentially and 19% higher than a year ago, for the quarter, which ended in March. The increase from the previous year had a lot to do with acquired revenue, but also from underlying factors, such as higher interest rates and increased ado...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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