Acquiring Morgan Keegan last April, along with the ability to retain a large percentage of their financial advisors, appears to have paid off for Raymond James, who announced an 8% increase in fees and commissions to $250 million during August, 2012.
This is up 8% from July and a 31% increase from a year ago. Assets under administration grew to $383 billion, a jump of 42% from a year ago in August.
Now, with 6,000 financial advisors in the United States, Canada, and the United Kingdom, the company spokesperson states they are on target with the Morgan Keegan integration in meeting their internal benchmarks.
Future prognosis throughout the industry remains uncertain as we near the U.S. elections.