Company: SFB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027702
Chunk: 511

Company: STIFEL FINANCIAL CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 3
Chunk 511
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2024

    2023

    2022

    Branch offices

    389

    398

    398

    Financial advisors

    2,229

    2,278

    2,242

    Independent contractors

    113

    108

    102

    Total financial advisors

    2,342

    2,386

    2,344

39

Year Ended December 31, 2024, Compared With Year Ended December 31, 2023

NET REVENUES

For the year ended December 31, 2024, Global Wealth Management net revenues increased 7.7% to a record $3.3 billion from $3.0 billion in 2023. The increase in net revenues is primarily attributable to increases in asset management revenues and transactional revenues, partially offset by lower net interest income.

Commissions – For the year ended December 31, 2024, commission revenues increased 14.3% to $508.7 million from $444.9 million in 2023. The increase is primarily attributable to a increase in equities trading and mutual funds revenue.

Principal transactions – For the year ended December 31, 2024, principal transactions revenues increased 16.4% to $243.6 million from $209.3 million in 2023.

Transactional revenues – For the year ended December 31, 2024, transactional revenues increased 15.0% to $752.4 million from $654.2 million in 2023 as a result of a increase in client activity.

Asset management – For the year ended December 31, 2024, asset management revenues increased 18.2% to a record $1.54 billion from $1.30 billion in 2023. The increase is primarily attributable to higher asset values and strong fee-based asset flows. Fee-based account revenues are primarily billed based on asset values at the end of the prior quarter. 

Client asset metrics as of the periods indicated (in thousands):

    December 31,

    Percentage Change

    2024

    2023

    2022

    2024 vs. 2023

    2023 vs. 2022

    Client assets
     
    $
    501,402,000

    $
    444,318,000

    $
    389,818,000

    12.8