Stifel Reports July 2023 Operating Data
August 24 2023 - 4:05PM
Stifel Financial Corp. (NYSE: SF) today reported selected operating
results for July 31, 2023 in an effort to provide timely
information to investors on certain key performance metrics. Due to
the limited nature of this data, a consistent correlation to
earnings should not be assumed.
Ronald J. Kruszewski, Chairman
and Chief Executive Officer, said, “Total client assets increased
in July, primarily as a result of higher equity markets. Recruiting
activity was very strong as we added a number of highly productive
advisors. Stifel continues to benefit from the investments we’ve
made in our business as well as our recent ranking as No. 1 in the
employee advisor segment of the J.D. Power 2023 U.S. Financial
Advisor Satisfaction StudySM. Total client cash fell less than 1%,
as cash sorting continued to slow, and we have seen this trend
continue so far in August.”
Selected Operating Data (Unaudited) |
|
As of |
|
% Change |
(millions) |
7/31/2023 |
7/31/2022 |
6/30/2023 |
|
7/31/2022 |
6/30/2023 |
Total client assets |
$ |
426,667 |
|
$ |
394,662 |
|
$ |
417,699 |
|
|
|
8 |
% |
|
2 |
% |
Fee-based client assets |
$ |
157,996 |
|
$ |
148,658 |
|
$ |
154,538 |
|
|
|
6 |
% |
|
2 |
% |
Private Client Group fee-based
client assets |
$ |
138,692 |
|
$ |
130,429 |
|
$ |
135,606 |
|
|
|
6 |
% |
|
2 |
% |
Bank loans, net (includes
loans held for sale) |
$ |
20,753 |
|
$ |
19,867 |
|
$ |
20,562 |
|
|
|
4 |
% |
|
1 |
% |
Client
money market and insured product (1) |
$ |
24,976 |
|
$ |
26,108 |
|
$ |
25,092 |
|
|
|
(4 |
)% |
|
(1 |
)% |
(1) Includes Sweep deposits, Smart Rate deposits,
Third-party Bank Sweep Program, and Other Sweep cash.
Company Information
Stifel Financial Corp. (NYSE: SF) is a financial
services holding company headquartered in St. Louis, Missouri, that
conducts its banking, securities, and financial services business
through several wholly owned subsidiaries. Stifel’s broker-dealer
clients are served in the United States through Stifel, Nicolaus
& Company, Incorporated, including its Eaton Partners business
division; Keefe, Bruyette & Woods, Inc.; Miller Buckfire &
Co., LLC; and Stifel Independent Advisors, LLC. The Company’s
broker-dealer affiliates provide securities brokerage, investment
banking, trading, investment advisory, and related financial
services to individual investors, professional money managers,
businesses, and municipalities. Stifel Bank and Stifel Bank &
Trust offer a full range of consumer and commercial lending
solutions. Stifel Trust Company, N.A. and Stifel Trust Company
Delaware, N.A. offer trust and related services. To learn more
about Stifel, please visit the Company’s website at www.stifel.com.
For global disclosures, please visit
www.stifel.com/investor-relations/press-releases.
Media Contact: Neil Shapiro (212) 271-3447 |
Investor Contact: Joel Jeffrey (212) 271- 3610 |
www.stifel.com/investor-relations
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