Stifel Financial’s (NYSE:SF) total client assets dipped 2% to $404.1B in October from $412.5M in the prior month in the wake of weaker equity market, it said on Tuesday.
From a year ago, though, client assets advanced 6% as recruiting remained strong.
Fee-based client assets of $147.7B drifted down 2% M/M and rose 4% from a year before.
Private Client Group fee-based client assets stood at $129.7B as of Oct. 31, down from $132.7B as of Sept. 30 and up from $124.8B as of Oct. 31, 2022.
Client money market and insured products of $25.2B vs. $25.5B in September and $26.1B in October of last year.