Raymond James misses the mark

The plummet can be attributed to the firm’s loan loss provision of US$81m compared to a US$5m benefit in 2019’s fiscal third quarter. Despite the decline, net income climbed by two percent from the previous quarter. The firm also reported a five percent drop in Q3 net revenues of US$1.83 billion, largely driven by the impact of lower short-term interest rates on both net interest income the Raymond James deposit program fees from third-party banks. The firm remains a top 10 distrib