Raymond James Financial, Inc. (NYSE: RJF) shares are trading relatively flat on Friday in the premarket session.
The diversified financial services firm is expanding its footprint in Canada with the addition of three established Winnipeg-based wealth management teams.
The move brings more than $1 billion in client assets to the firm, signaling a commitment to deeper engagement in the Manitoba market.
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Martin Wealth Management, Miles Wealth Management Group, and Ruban Stark Wealth Partners have joined Raymond James, Canada’s largest independent financial services provider.
Their arrival coincides with the firm’s launch of a new office in Winnipeg, creating a regional hub supported by trusted advisors with decades of experience.
The addition of these teams represents both a geographic expansion and a strategic bet on Canada’s growing wealth management sector. Raymond James executives stated that the collaboration strengthens the advisor network while advancing its national growth strategy.
Local leaders emphasized that shared values—particularly prioritizing clients—were key to their decision to unite under the Raymond James brand.
“We’re honoured to be among the founding partners bringing Raymond James to Manitoba,” said Ken Martin, Senior Financial Advisor, alongside Jackson Martin of Martin Wealth Management.
Raymond James President Scott Hudson described the move as a “strategic investment in the future of Canadian wealth management,” noting that the firm’s long-term ambition includes growing assets under administration to $125 billion by 2030.
Monthly Operating Data
In addition to its Canadian expansion, Raymond James reported fresh operating metrics for August 2025 yesterday.
CEO Paul Shoukry stated that client assets under administration reached a record $1.69 trillion, representing a 10% increase from the previous year and a 2% rise from the prior month. Growth was attributed to higher equity markets and net inflows.
While recruiting momentum remained strong, client cash balances in domestic sweep accounts and the Enhanced Savings Program totaled $54.2 billion, reflecting a 4% annual decline and a 1% sequential dip. Shoukry also pointed to a robust investment banking pipeline, underscoring confidence in the firm’s diversified business model.
By blending local expertise in Winnipeg with its global resources, Raymond James aims to solidify its position as a top choice for clients across Canada. The firm said it will continue to provide advisors with the tools and flexibility needed to expand their practices and enhance client service.
RJF Price Action: Raymond James shares are trading higher by 1.06% to $173.03 at last check on Friday.
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