CEO Paul Reilly says: "Advisor retention and recruiting remained solid across our multiple affiliation options, however, client assets decreased compared to the preceding month driven by declines in the equity markets. Investment banking activity continues to be challenged in the current market environment. While cash sorting persisted into March, domestic cash sweep balances increased approximately $1 billion since March 9 and ended at nearly $51 billion as of March 21. In addition, our newly launched Enhanced Savings Program has raised approximately $1.5 billion of net new funds as of March 21. We continue to be viewed as a source of strength with robust capital and liquidity positions, as well as limited fixed-rate and duration risks. We are also a leader in deposits offering FDIC insurance coverage, at 94% of deposits at Raymond James Bank and 84% of deposits including TriState Capital Bank."
Published first on TheFly
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