Stifel reports 16% rise in total client assets in May 2026
Stifel Financial Corp. reported a 16% year-over-year increase in total client assets to $579,678 million as of May 31, 2026, with fee-based client assets rising 20% to $238,727 million. Loan balances grew more than 2% from the prior month, while treasury deposits declined 3%. The company expects second-quarter investment banking revenue to increase 25% to 30% from the second quarter of 2025.
*this image is generated using AI for illustrative purposes only.
Stifel Financial Corp. reported a 16% year-over-year increase in total client assets to $579,678 million as of May 31, 2026, driven by market appreciation and solid advisor recruiting. Fee-based client assets rose 20% to $238,727 million during the same period, excluding the sale of Stifel Independent Advisors, LLC. The company expects second-quarter investment banking revenue to increase 25% to 30% from the second quarter of 2025, supported by increased capital raising activity.
Ronald J. Kruszewski, Chairman and Chief Executive Officer, highlighted that loan balances rose more than 2% from the prior month due to robust demand in fund banking. Treasury deposits declined 3% in May, primarily due to the timing of inflows and outflows by corporate clients, though the company anticipates strong growth in the second quarter and beyond.
Selected Operating Data (Unaudited)
The following table presents selected operating data for the periods indicated:
| Metric | 5/31/2026 ($) | 5/31/2025 ($) | 4/30/2026 ($) | % Change 5/31/2025 | % Change 4/30/2026 |
|---|---|---|---|---|---|
| Total client assets | 579,678 | 501,357 | 568,887 | 16% | 2% |
| Fee-based client assets | 238,727 | 199,078 | 232,400 | 20% | 3% |
| Private Client Group fee-based client assets | 208,755 | 173,557 | 202,919 | 20% | 3% |
| Bank loans, net | 23,932 | 21,204 | 23,409 | 13% | 2% |
| Client money market and insured product | 24,967 | 25,827 | 25,038 | (3%) | (0%) |
| Treasury deposits | 10,805 | 6,155 | 11,116 | 76% | (3%) |
Notes
(1) Total client assets and Private Client Group fee-based client assets as of May 31, 2025, include $9.3 billion and $4.4 billion, respectively, of client assets from the Stifel Independent Advisors business that was sold on February 2, 2026.
(2) Includes Smart Rate deposits, Sweep deposits, Third-party Bank Sweep Program, and Other Sweep cash.
(3) Includes Other Bank deposits and Third-party Commercial Treasury deposits, which represent Venture, Fund, and Commercial deposits at Stifel Bancorp and third-party banks.
How sustainable is the current pace of advisor recruiting given the competitive landscape for wealth management talent?
Will the surge in investment banking revenue continue into the second half of 2026 if capital raising activity normalizes?
What impact will rising interest rates have on net interest margins given the robust demand in fund banking?
17
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
