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Daily news service
Allison’s time at the helm of Raymond James’ Canadian operation increasingly speaks for the group’s future. The independent dual US-Canadian firm just acquired ETF provider Cougar Asset Management. The deal will help Raymond James advisors manage the new CRM2 era. Not that the network needs help – in the latest quarter, net revenue grew 6% to hit $1.25 billion on income of $126.3 million. Pre-tax income of $202.9 million also increased 13% over the prior year’s fiscal first quarter, resulting in a pre-tax margin on net revenues of 16.2% for the quarter.
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