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July 28 , 2021 RAYMOND JAMES FOR IMMEDIATE RELEASE Media Contact : Steve Hollister , 727.567.2824 Investor Contact : Kristina Waugh , 727.567.7654 raymondjames.com/news-and-media/press-releases RAYMOND JAMES FINANCIAL REPORTS THIRD QUARTER OF FISCAL 2021 RESULTS Record quarterly net revenues of $ 2.47 billion , up 35 % over the prior year's fiscal third quarter and 4 % over the preceding quarter Quarterly net income of $ 307 million , or $ 2.18 per diluted share , and adjusted quarterly net income of $ 386 million ( ¹ ) , or $ 2.74 per diluted share ( ¹ ) Records for client assets under administration of $ 1.17 trillion , financial assets under management of $ 191.0 billion , and net loans at Raymond James Bank of $ 23.9 billion Record Private Client Group assets in fee - based accounts of $ 616.7 billion , increases of 39 % over June 2020 and 9 % over March 2021 Record Private Client Group financial advisors of 8,413 , net increases of 258 over June 2020 and 86 over March 2021 Annualized return on equity for the quarter of 15.9 % and annualized adjusted return on tangible common equity for the quarter of 22.2 % ( ¹ ) ST . PETERSBURG , Fla - Raymond James Financial , Inc. ( NYSE : RJF ) today reported net revenues of $ 2.47 billion and net income of $ 307 million $ 2.18 per diluted share , for the fiscal third quarter ended June 30 , 2021 . Excluding $ 98 million associated with losses on extinguishment of debt ( 2 ) and $ 7 million of acquisition - related expenses ( ³ ) , adjusted quarterly net income was $ 386 million ( ¹ ) , or $ 2.74 per diluted share ( ¹ ) . The increase in quarterly net revenues was largely driven by record asset management and related administrative fees and record investment banking revenues during the quarter . Adjusted net income ( ¹ ) growth was due to higher net revenues , along with the loan loss reserve release in the quarter compared to provision for credit losses in the year - ago period . For the first nine months of the fiscal year , record net revenues of $ 7.07 billion increased 20 % , record earnings per diluted share of $ 6.92 increased 60 % , and adjusted earnings per diluted share of $ 7.50 ( ¹ ) increased 73 % over the first nine months of fiscal 2020 . " With strength across our complementary and diverse businesses , we achieved record results for the first nine months of the fiscal year , including record net revenues and pre - tax income in our Private Client Group , Capital Markets and Asset Management segments , " said Chairman and CEO Paul Reilly . " We are well positioned heading into the fiscal fourth quarter with records for client assets , the number of financial advisors , financial assets under management , and net loans at Raymond James Bank . Furthermore , financial advisor recruiting and investment banking pipelines remain strong . " Please refer the footnotes at the end of this press release for additional information . 1