Raymond James Financial (RJF) reported its second-quarter earnings revealing revenue of $3.12 billion, which was up 9% year-over-year, just $10 million shy of quarterly estimates. Inversely, the investment bank eked out gains of $2.31 per share (compared to expectations of $2.30). Despite missing out on top-line expectations, the company reported a new record in client assets valued at $1.45 trillion.
Raymond James CEO Paul Reilly joins Market Domination to give insight into his company's performance and the secrets behind his success. Reilly has named Raymond James CFO Paul Shoukry to be his successor as chief executive, taking over the position when Reilly plans to retire in October 2025.
Reilly names his two biggest accomplishments in his tenure as CEO:
"Our big increase in technology, which has paid off, really making the best platforms for wealth advisors anywhere. The second, I haven't messed up the culture yet. We've had 63 years of this tremendous culture, really started by Bob James and institutionalized by Tom James. And through my whole stay, culture has been number one. It's a very family feel firm even for a big firm. Everybody is on a first-name basis. Adviseos aren't afraid to reach out directly to me or anyone else here. And that was also critical as we picked my successor."
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