07.25.24

Ameriprise, Raymond James Report New Highs in Wealth Management

by: Bruce Kelly

The wealth management operations of brokerage firms Ameriprise Financial Inc. and Raymond James Financial Inc. reported record results for the quarter ending in June. Ameriprise reported its Advice & Wealth Management group generated pretax adjusted operating earnings of $822 million for the quarter, a new high driven by wealth management and banking. Raymond James reported net revenues of $2.42 billion, driven by higher asset management and related administrative fees, reflecting growth of assets in fee-based accounts during the year, the company said in a statement.

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