# Raymond James reports record client assets and strong recruiting gains URL: https://www.financialadvsr.com/article/raymond-james-reports-record-client-assets-and-strong-recruiting-68c64f Published: October 29, 2026 By: Nora Kessler, Practice & Technology Correspondent Section: News Publisher: Financial ADVSR (https://www.financialadvsr.com) Record quarterly client assets and recruiting momentum across advisor channels marked the latest report from Raymond James, with its CEO crediting flexible affiliation options for the growth. WealthManagement.com reported on October 29, 2026 that the firm's quarterly client asset total hit a record and its recruiting results were strong across its advisor channels. According to that report, CEO Paul Shoukry credited the firm's flexibility in affiliation options for the growth. AdvisorHub separately reported the same day that net new assets at the firm's Private Client Group rose to more than $98 billion, which it linked to record recruiting and same-store sales. The results are drawn from the firm's fiscal fourth-quarter and full-year 2026 release, issued on October 28, 2026 for the year ended September 30, 2026 and attached to a filing with the SEC. According to that release, the firm set fiscal 2026 records for annual revenue at $15.79 billion, for profit available to common shareholders at $2.37 billion, and for diluted earnings per share at $11.91. For the fourth quarter, the firm booked $4.27 billion in net revenue, and after the accounting adjustments in the release, $666 million was left for common shareholders, equal to $3.40 per diluted share. Client assets under administration reached $1.94 trillion at quarter-end, up 12% from September 2025, according to the firm's earnings materials. Private Client Group assets in fee-based accounts totaled $1.16 trillion, up 15% year over year. The filing reports these as client assets rather than as a separate assets under management figure. The earnings release showed Private Client Group pre-tax income climbing 10% from a year earlier, even as rising advisor pay and spending linked to recruiting records absorbed part of the gains in asset management fees. That trade-off sits at the center of the growth story: the recruiting push is adding cost even as the platform's fee base expands. The firm's own advisor opportunities page lists several affiliation options. The traditional employee model offers up to a 50% payout plus benefits and requires at least 5 years of experience. To qualify for Advisor Select, an advisor needs three years of experience and at least $3.5 million in yearly branch fees and commissions, and the model pays a 70% to 80% gross payout. The independent contractor model requires 3 years of experience and offers an 81% to 90% payout. The corporate RIA model requires 3 years of experience and $50 million in assets under advisement. These criteria come from Raymond James itself, not from regulators. Raymond James is headquartered in St. Petersburg, Florida. It was founded in 1962 by Robert James and has been public since 1983, trading on the NYSE under RJF, according to SEC records. Paul Shoukry became CEO effective February 20, 2025, succeeding Paul Reilly, who stepped down as CEO and became Executive Chair, according to a firm press release from December 2024. According to fa-mag.com, Shoukry joined Raymond James in 2010 and became CFO in 2020. Fondos Society reports that he is the firm's fourth chief executive. AdvisorHub reported that Tom James continues as chair emeritus. The firm ended fiscal 2024 with nearly 8,800 financial advisors, and it reported a record 8,943 in October 2025 after it stopped issuing quarterly headcount updates. For context, the firm's fiscal third-quarter report, released July 22, 2026, showed Domestic Private Client Group net new assets of $21.7 billion, or 5.5% annualized growth. AdvisorHub's headline also said the firm defended its recruiting costs after the banner year, a point the pre-tax income trend directly relates to. The reports do not say how the firm expects recruiting to trend in fiscal 2027, and no new affiliation terms were announced in the coverage reviewed. Advisors considering a move should compare the published payout grids and eligibility thresholds against their own production and experience, and firm leaders will be watching whether recruiting costs keep pace with fee growth in future quarters. Key facts: - Fiscal 2026 record annual net revenues were $15.79 billion, per the firm's release. - Client assets under administration were $1.94 trillion at quarter-end, up 12% year over year, per the firm's earnings materials. - Net new assets at the Private Client Group rose to more than $98 billion, according to AdvisorHub. - Private Client Group pre-tax income rose 10% year over year, per the earnings release. Why it matters: For advisors weighing a move, payout grids and eligibility thresholds such as years of experience and minimum production determine which affiliation model fits a practice. For firm leaders, recruiting spend that grows faster than fee revenue typically shows up in pre-tax margins, which is the trade-off reflected in the latest results. Sources: - WealthManagement.com: https://www.wealthmanagement.com/ibd-news/raymond-james-recruiting-surges-assets-hit-187-trillion - AdvisorHub: https://www.advisorhub.com/raymond-james-defends-recruiting-costs-after-banner-recruiting-year/ - sec.gov: https://www.sec.gov/Archives/edgar/data/0000720005/000072000526000080/rjf20260930q426earnings.htm - sec.gov: https://www.sec.gov/Archives/edgar/data/0000720005/000072000526000080/rjf-20261028.htm - sec.gov: https://www.sec.gov/Archives/edgar/data/0000720005/000072000526000066/rjf20260630q326earnings.htm - wboc.com: https://www.wboc.com/online_features/press_releases/raymond-james-financial-reports-fourth-quarter-and-fiscal-2026-results/article_a9ef5dbb-21ab-5462-9368-560d0affc2eb.html - manilatimes.net: https://www.manilatimes.net/2026/10/29/tmt-newswire/globenewswire/raymond-james-financial-reports-fourth-quarter-and-fiscal-2026-results/2456691 - investing.com: https://www.investing.com/news/transcripts/earnings-call-transcript-raymond-james-tops-q4-2026-estimates-shares-rise-93CH-4981105