Core Insights - Stifel Financial Corp. reported record highs in total client assets and fee-based client assets, increasing by 9% and 14% year-over-year respectively, attributed to strong recruiting and market gains [2] - The company experienced a 6% month-over-month growth in treasury deposits, which offset a 1% decline in client money market and insured product balances [2] - The Institutional Group is seeing improved momentum in capital raising and M&A activities, with expectations for a stronger second half of the year barring significant market downturns [2] Selected Operating Data - Total client assets reached $532,742 million as of August 31, 2025, up from $489,237 million a year earlier, reflecting a 9% increase [2] - Fee-based client assets amounted to $213,635 million, a 14% increase from $187,344 million in the previous year [2] - Private Client Group fee-based client assets also rose by 14%, reaching $186,679 million compared to $163,824 million a year ago [2] - Bank loans, net, increased by 7% to $21,646 million from $20,323 million year-over-year [2] - Client money market and insured product balances decreased by 4% to $25,436 million from $26,503 million year-over-year [2] - Treasury deposits surged by 79% to $7,647 million from $4,278 million year-over-year [2]