Stifel Reports October 2024 Operating Data

Core Insights - Stifel Financial Corp. reported selected operating results for October 31, 2024, highlighting key performance metrics for investors [1] Group 1: Financial Performance - Total client assets reached $493,469 million as of October 31, 2024, representing a 22% increase from $404,057 million a year ago, but a 1% decline from $496,298 million in September 2024 [2] - Fee-based client assets amounted to $189,326 million, up 28% from $147,667 million in the same period last year, with a slight 1% decrease from $190,771 million in September 2024 [2] - Private Client Group fee-based client assets were $165,530 million, reflecting a 28% increase from $129,687 million year-over-year, and a 1% decline from $166,768 million in September 2024 [2] - Net bank loans, including loans held for sale, were $20,722 million, showing no change compared to $20,654 million a year ago and $20,633 million in September 2024 [2] - Client money market and insured product balances totaled $27,613 million, a 10% increase from $25,184 million year-over-year, and a 2% rise from $26,970 million in September 2024 [2] Group 2: Market Trends - The increase in total client assets and fee-based assets was attributed to strong market appreciation and effective recruiting efforts [2] - Despite the year-over-year growth, both total client assets and fee-based assets experienced a decline of 1% compared to September 2024 levels due to market declines [2] - Positive trends were observed in client cash levels, with a 2% increase in client money market and insured product balances in October [2]