Raymond James Financial (RJF) investor relations material

Strategic vision and business model

• Emphasizes long-term, client-first values, integrity, and independence for advisors, aiming to be the best firm for financial professionals and their clients.

• Maintains a highly diversified business anchored by Private Client Group (68% of revenues), with complementary segments in asset management, capital markets, and banking.

• Focuses on sustainable, profitable growth over growth at all costs, leveraging a strong balance sheet and conservative risk management.

• Prioritizes cultural fit and strategic value in M&A, with recent acquisitions enhancing advisory, asset management, and structured products capabilities.

• Invests heavily in technology and AI to empower advisors, enhance client relationships, and drive operational efficiency.

Financial performance and guidance

• Achieved 153 consecutive quarters of profitability and 16 years of record revenue growth, with a 12% five-year CAGR in revenues.

• Asset-based revenues comprise 79% of total, providing a resilient recurring revenue base.

• Five-year pre-tax income CAGR of 21%, with adjusted pre-tax margin near 20% and return on equity consistently above 17%.

• Maintains $3B in parent cash, $2.1B in excess capital, and a Tier 1 leverage ratio of 12.4%, supporting organic and inorganic growth.

• Targets $20B in revenues by 2030, with continued investment in advisor recruiting, technology, and selective acquisitions.

Private Client Group and advisor strategy

• Nearly 9,100 advisors manage $1.7T in assets, with 14% five-year CAGR in assets and 13% CAGR in net revenue.

• Advisor retention and recruiting drive growth, with 97% satisfaction and $407M in recruited T12 production in FY25 (+21% y/y).

• Practice Capital Solutions launched, providing $50M in capital in its first year to support advisor succession and growth.

• Advisor Choice model offers multiple affiliation options, supporting industry movement toward independence.

• Productivity initiatives like Advisor Time and Private Wealth Advisor Accreditation aim to deepen client relationships and drive growth.